Electronic Cheque Clearing (ECC)

What is Electronic Cheque Clearing?
ECC is an image-based electronic cheque clearing and settlement system. The original paper cheques are scanned to create images and presented electronically...
Mon, 30 Sep, 2019 at 4:03 PM
ECC is carried out for which currencies?
ECC is carried out for: Nepalese Rupee; US Dollar; EURO; Sterling Pound; and  Other currency approved by NRB.
Mon, 30 Sep, 2019 at 4:05 PM
Why does bank stop payment order cheques?
If any inward cheque clearing cheque has match with the stop pay list which is defined and updated by the Paying Member. Paying Member will return the chequ...
Mon, 30 Sep, 2019 at 4:05 PM
What are the cheque transaction limits for ECC?
NRB has defined following ECC transaction limits: All cheques with amounts equals to NPR 200,000,000.00 shall be sent through the Regular or the Express C...
Mon, 30 Sep, 2019 at 4:07 PM
What does Regular Electronic Cheque Clearing mean?
Regular Electronic Cheque Clearing refers to the clearing of cheque up to NPR 200 million in case of NPR cheques and up to 2 million in case of USD, GBP and...
Mon, 30 Sep, 2019 at 4:07 PM
What does High Value Electronic Cheque Clearing mean?
High Value Electronic Cheque Clearing is clearing session for presentment of high value cheques of above 200 Million to 300 Million in case of NPR and above...
Mon, 30 Sep, 2019 at 4:08 PM
What does Express Cheque Clearing mean?
Express Cheque Clearing is clearing session of short duration of 2 hours for cheque presentment, response from paying bank and NRB settlement. It allows Ban...
Mon, 30 Sep, 2019 at 4:08 PM
What is the validity for cheque?
The cheque with date of issue that exceeds 180 days from date of cheque or time period specified on the cheque is considered as stale cheque. The stale cheq...
Mon, 30 Sep, 2019 at 4:09 PM
What types of cheques can be presented through clearing system?
Local cheques: The cheques that are payable locally.  Outstation cheques: The cheques drawn on other banks at outside valley other than local clearing. C...
Mon, 30 Sep, 2019 at 4:10 PM
Does customer get refunded in case of paying member does not reply during stipulated time on the express clearing cheques, and fees for clearing the express cheque have already been collected by the Presenting Member from the customer?
Yes, the customer gets refunded because they do not receive the service. The system will calculate the refund amount automatically. The amount shall be reco...
Mon, 30 Sep, 2019 at 4:11 PM