e-NACH: for Convenient and Secure Direct Debit from IPPB account

In today's fast-paced world, managing finances efficiently is crucial. Keeping track of due dates, remembering to write cheques, and physically visits to branches is time-consuming and inconvenient.

Many of us juggle multiple recurring payments for utilities, subscriptions, loan EMIs, insurance premiums and more. Traditional methods like cash payments or cheques can be cumbersome and error-prone. Missed payments can result in late fees and disrupt essential services.

IPPB, with its commitment to financial inclusion and technological innovation, offers e-Mandate facility as a secure and automated solution to streamline all your recurring payments through NACH (National Automated Clearing House) powered by NPCI (National Payments Corporation of India). e-NACH eliminates the need for manual interventions, ensuring timely payments and peace of mind.

Benefits of e-NACH with IPPB:

• Convenience: Schedule and automate your recurring payments, ensuring timely payments and avoiding late fees.
• Security: Eliminate the need to carry cash or manage multiple cheques.
• Transparency: Receive real-time transaction notifications for better tracking of your finances.
• Simple: Easy to set up and manage through your IPPB account.

How to Use e-NACH with IPPB:

1. Registration: Contact the Merchant/ Corporate/ Collection Agency who accepts e-NACH payments and initiate mandate registration request. You will need to provide your IPPB account details and mandate the amount and frequency of payments.
2. Authorization: Register the mandate with Merchant/ Corporate/ Collection Agency using Aadhaar authentication process. After successful registration, bank will also send the alert to the customer.
3. Payment Processing: Merchant/ Corporate/ Collection Agency will raise collection request with bank through ACH Debit on due date as per mandate registered.
4. Cancellation of Mandates: Customer has to approach their Merchant/ Corporate/ Collection for cancellation of any registered mandate.

List of Corporates live on e-NACH –

Please refer section Live Corporates in eSign on NPCI Portal -  https://www.npci.org.in/what-we-do/nach/live-members/e-mandates

Charges –

Charges for availing NACH Debit Services are as follows -

Important Note:

• Always ensure you are dealing with a trusted biller before authorizing e-NACH mandates.
• Review your e-NACH mandates regularly and revoke any that are no longer required.

Want to simplify your recurring payments? Sign up for e-NACH facility today!

For more information, visit your nearest Post Office or IPPB branch/ Banking outlet or contact our contact centre 155299 or 033-22029000.