What is e-NACH & e-Mandate?
Just curious, e-NACH is an abbreviation, right?
Yes, e-NACH stands for Electronic National Automated Clearing House.
Sounds promising, tell me more...
E-NACH and e-Mandate are easier ways for merchants and their buyers to handle all recurring payments like telephone bills, insurance premiums, utility bills, SIPs, school fees etc.
For instance, if you are signing up for an insurance plan through an e-Mandate, you can schedule all your premium payments through a simple online process at the start of the insurance period, instead of manually keeping track and making individual premium payments. No more pesky reminders or late fees!