NACH Debit Collections

Automated Mandate and Transaction Information Processing Capability

At a Glance

Improve your cash flow by ensuring timely collection of your receivable with National Automated Clearing House (NACH) Collection. You can now pull funds from payers’ accounts against outstanding invoices, with extended cut-offs for same day clearing. DBS has an Automated Mandate and Transaction Information Processing Capability.

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What is NACH Debit?

NACH Debit is the product of NPCI to provide a better & efficient Mandate based debit services to the banks. It is an advanced version of ECS Debits. Following are the key features of the NACH Debit:

  • Automated processing and exchange of mandate information electronically with well defined timelines for acknowledgement/confirmation.
  •  Each mandate needs to be accepted/authorized by the debtor bank before the User can initiate a transaction
  • Each mandate is uniquely identified by Unique Mandate Reference Number (UMRN) which makes tracking of multiple mandate details easier for customers.
  • Defined and agreed SLA’s to be implemented-provide Governance model and defined timelines for mandate processing.
  • Enable the usage of standardized Mandate Forms.
  • Mandate repository containing Mandate details to be maintained for the purpose of validating mandate UMRN available on the NACH transaction files, at the time of NACH transaction processing.
What are the benefits of NACH Debit to GTS Customers?

The benefits of NACH debit are as follows:

  • Pick-up service for mandates from customer premises
  • Best in class cut-off of 12.15 pm for same day transaction processing
  • Three clearing sessions with intra-day credits to customer’s account to enhance customer liquidity
  • Transaction file upload through IDEAL / IDEAL Connect using UFF / Fixed length file format
  • Competitive pricing on Mandates (INR 10 per mandate) and Transactions (INR 2 per transaction)
  • Capability to migrate NACH Mandates from X bank to DBS
  • Advising capability to both Corporates and Payors for successful and failed transactions
  • Training session by DBS to Payors or B2B Customers
  • Supports both Off-Us and On-Us Transactions
  • Central control on receivables. Sales and GTS Customers can focus on it’s core competency
  • No hassles around cheque deposit and follow-up
  • Improved and efficient over Post Dated Cheques (PDCs) and Pre-Signed Blank Cheques (PSBCs)
  • Standardization and digitization of mandates
  • Reduced operational cost for GTS Customers and it’s customers
  • Complete audit trail of the mandate during its lifecycle
  • Flexibility of mandate on amount & frequency
  • Simplification of the mandate acceptance and recording process
  • Unique identifier number allocated to each mandate (UMRN)
  • Payor can focus on it’s core competency
Which are the fields to be captured on the Mandate form?
  • UMRN - UMRN is a Unique Mandate Reference number allocated to each new mandate created in NACH Debit. It is auto generated by the NACH system during mandate creation. UMRN is mandatory for every transaction and even during mandate amendment and cancellation.
  • DATE - The date on which the mandate was filled by the payor.
  • SPONSOR BANK CODE – This would be auto populated and thus the Payor need not worry to fill this information
  • UTILITY CODE – This would be auto populated and thus the Payor need not worry to fill this information.
  • NAME OF UTILITY/BILLER/BANK/COMPANY – This would be auto populated as ‘GTS Customer Name’ and thus the Payor need not worry to fill this information.
  • ACTION – By default this is ticked as ‘Create’ for now.
  • A/C TYPE - It is the type of account held by the Payer against which the mandate is being issued (for e.g. Savings, Current, CC, Others).
  • LEGAL ACCOUNT NO. – Payer’s bank account number.
  • NAME OF THE DESTINATION BANK WITH BRANCH - Name of the Payer’s Bank and its Branch Name.
  • IFSC/MICR CODE - IFSC/MICR Code of Payer’s bank. The user can enter both the values
  • Amount in words.
  • Amount in figures, similar to the amount mentioned in words.
  • CONSUMER REFERENCE NUMBER (Reference 1) - It is the reference number that has been allotted to the Payer by GTS Customer. This has to be validated by the GTS  Customer before handing over the mandate to DBS
  • SCHEME/ PLAN REFERENCE NUMBER (Reference 2) - Scheme/Plan reference number under which the Payer is authorizing the User institution to debit his/her account.
  • FREQUENCY - It refers to the frequency of transactions.
  • DEBIT TYPE - This would be auto populated and thus the Payor need not worry to fill this information.
  • Telephone number - With STD Code, of Payer / 10 digit mobile number of Payer.
  • Mail id of Payer
  • PERIOD - Validity of mandate with From and To Date. If definite end period is not provided then Until Cancelled has to be ticked.
  • Names of customer/s and signatures as well as seal of company (where required).