Handling of ECS Returns - ECS Suspense Account (SOL ID+0098).

5. Handling of ECS Returns

1. ECS Outward credit might get returned due to incorrect other bank account number or account already closed.

2. Nodal office (Chennai GPO) will credit the ECS return amount to Outward credit ECS Suspense account (SOL ID+0098) of concerned CBS Post Office. Account Number will be updated in the reference number field on next day immediately after receipt of ECS returns.

3. Customer will visit concerned PO in case the amount is not credited in other bank account. Concerned POs will regularly check credits in ECS suspense account (SOL ID+0098).

4. If any ECS is returned and credits if available in ECS suspense account (SOLID+0098) concerned Post Office will intimate the depositor reason for non credit of ECS through mobile number available with Post office requesting customer to attend Post Office for collecting maturity value as cash if maturity value is below Rs.20,000/-.

5. If the maturity credits are above Rs.20,000/-, amount to be credited into Postmaster Cheque office account (SOL ID+0340) from ECS Suspense account and to be paid as Postmaster cheque . In case of Sub Office they will collect the cheque from their respective HO.

6. PO will use CTM menu for debiting ECS Outward credit of their SOL and pay in Cash if the amount is below Rs.20000/. If the amount is above Rs.20000/-, PO will use CXFER to crediting from ECS Suspense to their 0340 account for paying through cheque.

7. Post office should pay Cash or Cheque ONLY if ECS return amount is available as credit in ECS Outward credit Suspense account (SOL+0098).

 

 

 Source : CBS Manual (corrected upto 31.12.2021) Page No 402