basunivesh@gmail.com
Recently NACH was made compulsory for your any payment, which is recurring in nature instead of a current ECS mandate. This applies to your SIP of Mutual Funds, Utility Bills, Insurance Premiums, Credit Card Bills, or any payment, which you feel recurring in nature.
Note:-Refer our latest post “How to cancel or stop ECS NACH mandate?“.
From 1st May, 2016 you have to use this facility to give auto instruction of debit from your bank account. ECS mandate will go off completely for banks, which are live on NACH. Hence, first let us understand what is NACH (National Automated Clearing House). Refer this NPCI circular for the same.
National Payments Corporation of India (NPCI) created this wonderful video of understanding this facility in a simple way.
I tried to explain the same from this below image.
You notice that here customer means you. NPCI (National Payments Corporation of India) is an organization, which meant to consolidate and integrate the multiple systems with varying service levels into nationwide uniform and standard business process for all retail payment systems. The other objective was to facilitate an affordable payment mechanism to benefit the common man across the country and help financial inclusion.
What is the difference between the ECS and NACH?
# In case of ECS, the process is manual. Hence, takes more time or verification issues. However, in NACH it is defined workflow, which reduces the time.
# In case of ECS, you will not get a unique mandate registration reference number. However, in NACH you get it and can be used for future reference.
# In case of ECS, the possibility of higher rejection ratio. But due to less paperwork in NACH, rejection ratio is less.
# Settlement of payment, usually takes 3-4 days in ECS. But in case of NACH it will be settled on the same day.
# There is no such dispute management system placed in ECS. However, in NACH it is well set and can be resolved issues easily.
# Registration of ECS usually takes around 30 days. But in NACH it is just 15 days.
Who are the participating banks?
These are the live banks for which NACH is mandatory to adopt from 1st May, 2016. All core banking enabled banks are soon going to be part of this facility. Currently, all major banks are part of this NACH.
Few other features of NACH facility are as below.
- Your NACH may get rejected due to an incorrect bank account, folio number or other incorrect details. It also gets rejected if the investor’s bank is not participating in NACH.
- You can stop NACH at any point of time by submitting the cancellation form.
- The default NACH mandate will be up to 31/12/2099.
- You can mention the frequency, amount and the date of last debit. Also, can alter it at any point.
- You can register as many NACH as possible. There is no such limit.
How typical NACH application form looks?
Below is the same NACH application form which from 1st May, 2016 will be applicable to all your ECS transactions.
Hope I cleared doubts regarding NACH mandate, which will soon replacing ECS.
I want to take a personal loan of 10,000 from Snapmint.
The period for loan is 5 months.
Installment amount is Rs. 2168 per month for 5 months.
First EMI deduction will start from 01 – 04 – 2024 but in the eNACH it is showing final collection date of EMI as 30 – 04 – 2026. Details are below. Kindly guide me.
Occurrence
RCUR
Recurring Frequency
ADHO
Mandate Amount
10000.00
Amount Type
Maximum
First Collection Date
2024-04-01
Final Collection Date
2026-04-30
Dear APS,
Better to avoid such loans.
Thank u so much
608|Bank Restricts Dublicate request. mandate not registered_not maintaining req balance| rejected by NPCI now what can i do how to solve this issue
Dear Ruksana,
It is unclear reason. Approach the bank.
Due to an insufficient funds ENACH is dishonoured 4 times in this financial year I got a message from SBI that e-NACH facility will be stopped, my doubt is e nach facility stepped means regarding new loans obtaining enach or already existing loans already e nach , and after this my existing loans had enach it will continue???? I mean automatically emi cut in my bank account
Dear Kbs,
Check with mandate was stopped with your bank.
Can the EMI amount mentioned in Home loan sanction letter be different from the amount mentioned in the ENACH submitted online?
Dear Danish,
MUST NOT BE.
Dear sir!
I had taken a personal loan in mobikwik with nach mandate.i can emi in mobikwik app. after few emi is completed.then in mobikwik they are adding some extra charges with out any reason.so I can stop the paying emi’s.lenders can’t contact me.and also there is no response for emails.
Unfortunately I had check the bank account which is given to mandate.i can’t use the account from long time.it having -20,000 balance. So i leave the account and the account is linked with my aadhar only.then i noticed that due amount is occurring by nach mandate.In further there is any problem from it to me.please help me to resolve the issue.
Dear Sai,
No option but to approach the bank and opt for closure.
Applied loan for 2 years but e mandate showing end date 30 years
Hi , I had 500 in my account on date of EMI of rs 4527 was required, nach was returned due to insufficient balance but also 500 was debited. And next again I received nach of 4527, where did my 500 go and not just it even any money I credit it is vanishing same way??
Dear Jameel,
Check immediately with your bank.
applied loan for 3 years but NPCL showing 30years in agreement . They are telling its new rule ?why it is
Dear Dinu,
I don’t know any such rule.
I have cancelled my NACH in Kotak which was for insurance. I got message on due date that the payment was failed due to Mandate not exists and NACH bounce charges will be charged. As I have cancelled already will I be charged with bounce charges?
Dear Suman,
It is illegal to charge so. Better to be in touch with the bank immedaitely.
Hi i hold the account with idfc and NACH was enabled. Manytimes requested to disable but it was not disabled. because of this amount got debited from other back account and credited to IDFC every month end. so i requested to close my account in idfc and they did. Even after that amount debited from other account. But since idfc account is already closed, will the amount returned to my other account. what will be the solution. How can i disable this in future since account is also not there.
Dear Sornaraja,
If the NACH mandated account already closed, then how come the amount will get deducted?
Dear customer, your mandate of ACCRETIVE CLEANTECH FINANCE P ending with UMRN SPCB0000122has been rejected due to insufficient balance -SPCBL
What to do ?
Dear Arjun,
Manage the balance.
Hello sir,
Can my CIBIL score get impacted after cancellation of E-NACH?
Dear Prabhanjan,
No.
Is there a deadline to get the physical NACH registered? For example, if I get a physical NACH signed from the customer today but I dont get it registered till next year, will this physical NACH get registered or it will become invalid and I will have to get a new Physical NACH?
Dear Manjul,
May I know the logic for such delay in registration?
Sir, after dishonoured NACH mandate on due date, can life insurance company has right to levied the insurance premium by auto debited amount from my account while account has sufficient balance. Kindly intimate the rules about it please. Thank you.
Dear Brindaban,
Can you elaborate the issue?
Sir, I have a SBI Life Insurance policy which is yearly mode. On 22nd August was due date to auto debit for this poliy renewal but on that day my account had insufficient balance. On 31st August while my account credited salary amount, policy renewal amount automatically debited from my account. Has any rule for it. Kindly intimate please.
Dear Brindaban,
This must not happen usually. Check with insurance company.
I have given nach for an account number and it started debiting and after few months i have transferred the same account to other branch.will it affectmy nach deduction as ifsc code has changed?
Dear Anil,
Yes, it may affect. Hence, better to check with the new branch.
I have not taken loan from one organisation. But it’s add to my account. Last month they detected amount from my account. Is there anyway to cancel this unauthorised nach in my account.
Dear Gokul,
Complain with the bank immediately.
I have paid NACH mandate fees but failed fess was refund or not
Dear Bollineni,
In many cases, NO.
Sir
If E mandate last collection date was expires, is there have any possibility for amount deduction from my bank account?
Dear Abdul,
Whether you checked with the bank?
Cheque/NACH dishonoured in Acc XXXXX362668 for 3 times in FY due to insufficient funds. Chq/NACH facility may be stopped in event of another such dishonour.-SBI..(what should I do if they stop Nach facility)
Dear Mohammad,
You have to re-register.
Sir mere father ka jis account mei pension hota hai us account mei insufficient funds ki wajah se NACH/CHEQUE facility ko stop kr diya gya hai,toh poochna yeh tha ki pension
hone mei koi dikkat aa skti hai kya sir?
Pls reply
Dear Wali,
No issue with pension credit.
Cheque/NACH dishonoured in Acc XXXXX767134 for 3 times in FY due to insufficient funds. Chq/NACH facility may be stopped in event of another such dishonour.-SBI
Iska kya matlab huya, kuch tention lekeki jaturat hai ya nahi??
Dear Vaibhav,
It means the ECS was defualted 3 times due to insufficent funds. If you do so again then the mandate will be cancelled.
Sent from my iPhone
On 18 Jun 2023, at 12:49, Lakshmi Gayatri wrote:
?
Hello sir,
My axis bank account has tied to Aditya Birla Finance LTD loan account for direct debits in March, 2020. so, the first month’s debit was done directly from the bank on 05 Apr, 2020, From May 2020, though I maintained enough balance regarding that corresponding amount, it hadn’t been debited. Later, the loan representative from Aditya Birla Finance Ltd, has been approached and mentioned that due to technical issues from their end at that time, I was asked to make the payments to the account details provided by them. Since then there was no auto debit from their end and I am directly depositing to their bank account till now.
Recently when I have gone through my statement, I noticed that there are huge charges levied on the name of ECS/NACH charges and maintenance charge which has gone to negative balance of around Rs. 24,000/- and some change in my axis bank account and the same charges in my Aditya Birla finance ltd which is around Rs. 38,000 on the name of instrument return charges. Can both the banks do charges on my account? Is it legal or Illegal?
Could you please suggest me regarding the same??
Thank you
Dear Lakshmi,
Bank charged may be you have not cancelled NACH (which is your fault). But Bajaj Finance charing is completely wrong.
Hello sir my emi due date is 5th of every month. I want to know at what time my account debit. Is nach time is fixed?
Dear Chetan,
Contact the banker or the lender.
Hello sir,
My insurance company has issued a nach with my account. I have filled the forms as well for auto debit. Now the insurance company says that nach is rejected so I have to make the payments manually.
Is this a normal thing or any scam?
Dear Raj,
If the NACH is canceled then why do you have to worry to pay manually?
My dividend from HCl technologies got rejected and when asked the company said that it was rejected due to “Participant not mapped to the product – NACH CR PRESENTATION / AG01”, my KYC is updated and I’ve given correct bank details.
Can you tell the reason why it’s being rejected
Dear Kamal,
Better check with the bank.
Hi Sir,
My sip deduction date was 5th March and I top-up my account on 5th March at 9:20 am. But my SIP payment rejected and the reason was insufficient balance. Also Axis Bank fine rs 500 for each of my failed sip. When I contacted bank they told me to maintain balance one day before th sip date. Do axis Bank charges me illegally as I have sufficient balance on that specific date?
Due to this I am planning to stop my sips, pls suggest.
Dear Nitu,
It is your bank issue. Better you prove them that you have enough balance on that day and what they charged is illegal.
Hi sir,
I have opted for an EMI for 18 months tenure but while opting for e-Nach the end date is showing 36 months tenure from the start date. Is this safe/fine? Kindly assist.
Dear Abhishek,
Better to check with lender.
Sir,
I took an educational loan and while doing NACH validation, I got a mistake while entering the transaction password. But after that while I was trying to again mandate,the message invalid user credential message is showing. What can I do to solve this problem.
Dear Archana,
Approach the bank.
Hi, I had got processed and approved of a loan from lender snapmint, but due to some issues. I made sure that the cancellation of the product was done, and they also had refunded the money back of what the downpayment made by me. However, the ECS NACH which was signed virtually with the help of a debit card will be cancelled as well? Or will it be affecting with EMI to be paid, since refund was being done and product was cancelled? Please help me clarify on the same.
Dear Vivek,
Approach the bank to cancel it immedaitely.
Sir my mother’s have home loan in icici bank. I also co applicant in this account. My salary account in hdfc bank. I created mandate for ECS in icici bank favour of hdfc bank salary account. Icici gave me a letter of rejection my ECS and reason saying that Account holder’s name mismatch with CBS. BOTH banks are nothing to say about this problem. I am in trouble. What’s the name mismatch me or my mother. Give proper solution to me. So I can deduct home loan EMI in my hdfc salary account.
Dear Vipul,
It is the responsibility of ICICI Bank to respond with clarification. Let them accept or reject with valid reasons.
Sir, IDFC Bank made an illegal NACH request without the consent of my spouse in her SBI savings account and luckily due to insufficient balance a fine of ?295/- was levied by SBI.
When I raised the complaint with IDFC, they silently transferred the fine amount of ?295/- within 3 days.
However, what IDFC did was illegal and had caused a lot of mental harassment for both of us.
I feel that compensation should be provided for such an act to ensure it does not happen again with me or with anyone else.
Where should I approach for such illegal acts by well known IDFC Bank? Kindly help.
Thank you.
Dear Abhishek,
Approach the banking ombudsman.
Hello sir,
I have cancelled my NACH as I am unable to keep sufficient funds due to loss of pay, I am paying the EMI amount manually, I have informed lender not to present the NACH still they are presenting it, will it be issue for me, if the it bounces? Will any legal action will be there if it bounced more than two times even after informing?
Dear Sheetal,
If they present and dishonored, then the bank will charge a penalty. Request your provider at first to cancel it.
hello have applied for personal loan for online loan app ans already signed nach and received confirmation from bank about the e-mandate but still have not reveived the loan amount will emi get deducted on day of emi plzzz
Dear Sanoj,
Contact the lender.
Hi sir I had enrolled in educational course for the intial payment they made EMI option which will be auto debiting after few days i dint like the course so i discontinued and requested the course people to cancel my EMI but they told we cant cancel the EMI. So i gone to my bank and cancelled the auto debit option but the EMI is still active will this damage my cibil score and also what problems will I face if this becomes serious
Dear Arjun,
You have to approach the organization which lent you the money for this course.
Sir, I took a loan for 4 years but the NACH mandate was given in the form as 10 years
Amount was also 1 lakh instead of actual emi of 9300
Why banks have extra year’s and extra amount in the NACH forms
Dear Kavish,
By default they do it. You have all rights to restrict.
Hi sir,
NACH mandate of my Lic policy is rejected by my bank due to Data miss match with image. What is the meaning of this message?
Dear Nithya,
Hard to predict. Better to check with your branch.
Hi,
I have an ecs of a premium for date 6th quarterly. For this month account did not had enough balance. There is a ecs attempt showing in the transactions. On 8th (after 2 days) I maintained the balance and requested to run the ecs again.
Will I be charged for any NACH charges?
Thanks in advance.
Dear Prashant,
Yes.
Hi this is regarding ECS bounce charges with ICICI bank. Actually I have home loan from PNB HFL and till October 2022 my ECS was setup with Citi bank and every month my EMI got deducted with no issue. last month I have changed my bank from Citi to ICICI NRO and I submitted the updated ECS document to PNBHFL where I have mentioned that next month onwards please deduct my EMI from ICICI bank and after whole process I got message from ICICI that my ECS has been setup and I thought my EMI will be auto deducted from icicic on time but I got call from PNBHFL that your ECS for this month got bounce , then I checked with ICICI customer care they said check with your ICICI home branch .I contact the home branch but they said we can see your ECS has been setup but they are not telling me why my ECS got bounce and I have enough fund too in my account. As my ECS got bounce so PNBHFL recovery department tried to recover that amount from cheque but that got bounced too and when I cheque with ICICI they said they never get any request from ICICI now both bank are not giving me any concrete reason and they already charged 1500 rupees as a bounce charges but I have funds in my account and with CiTI bank this never happens so I don’t know what to do please help
Dear Reshu,
It is an issue with ICICI. Check with them.
Hi, I availed a quick loan from a app. They tried doing ECS for 23times in a day but I am paying by cash to a executive. Can I cancel NACH from bank. Please suggest I am getting scared what if they talk payments after me clearing the dues.
Dear David,
Better to approach the bank.
Sampati Securities presented NACH on 13/10/2022 more than 150 times in a day , is there any legality of presentation that many number of times
Please make a note & provide suggestion
Dear Srinivas,
Surprising for such harsh process. You can raise an issue with bank.
Hi, I’m taking a 0% interest loan for a medical procedure from Liquify Loans.. the amount is 2L and emi come to 16,666? for 12 months.. During the application, they’re asking me to agree to a NACH of 1L that to weekly. Is this legal? should I agree? Please reply soon.
Dear Mandar,
Usually, they do so.
Hi Sir
I have failed to maintain emi amount in the bank account at the time of emi date . But after a few days NACH has charged 4000 rupees as dishonored charges .is there anyway that we can get them back or what to do ..please suggest me
Dear Ashok,
Please check with your bank.
Hi Sir,
Actually I have Personal Loan in ICICI and emi debiting from HDFC bank .. But this month fund was not available on the time of emi day ..fir that HDFC is charging 1100 for non maintaing of balance emi day … And also ICICI also charged bounce charges.
Please help to understand whether this is right …?
Dear Basavaraja,
Sadly YES.
My loan due date is 3rd of each month and my make sure that my account has money in it around morning 2nd of each month but still cheque bounce charges are applicable on me, why is this happening?
Dear Yadav,
Raise an issue with your bank.
My Nach is returned due to insufficient fund and only charges has been Debited will the Nach amount will get deducted or not?
Dear Kavya,
If there is no balance, then how can the deduction happen?
Hi Sir,my bank balance is -1300 and my nach debit is getting rejected again and again. Could – balance be a reason. What minimum balance I am required to have
Dear Ranu,
Check with bank.
Hello sir,I am taking loan from mobikwik,I have done all the step but nach setup is getting failed again and again. My bank balance is in -1100. Could this be a reason
Dear Ranu,
Check with the bank.
Indiaabulls asked my to fill out a NACH form that has the entire home loan amount mentioned, though I have already paid more than hal the loan.
Are they supposed to put in the entire Loan amount.
Dear Joy,
I have replied to your email.
Dear BasuNivesh,
Hi sir I am working in a insurance company where I asked my sales person to collect mandate from customer to improve Ecs live percentage, after that my sales team started questioning me as saying customer premium amount is 104500 but you are getting 115000 pre approval then how will customer will accept for nach.
Kindly clarify me why nach is getting extra amount approval and is the only company where I am working is doing this or all the insurance company norm is same .
Dear Surendar,
Check with your company policy structure in this regard.
I tried to set up NACH a few times but it failed. There were hefty charges added to my account it’s in negative balance of 3000. If i try again(after correcting mistake) will the bank reject it because of the negative balance?
PS – thanks for your content.
Dear Kalyani,
I have replied to your email.
Hello sir am i supposed to fill entire loan amount or just monthly emi amount in amount section? As my loan is 83 thousand which has 12 months emi of ru 6917. Which amount am i supposed to fill. If i were to fill 83 thousand then can they deduct 83 thousand every month
Dear Ranu,
Replied to your email.
Hi sir,
My term life insurance’s premium is automatically debited from my account each month and it has been approved via e-nach. If I miss a premium payment for one month due to non availability of fund, will the amount be debited automatically whenever there is fund available in my bank account.
Dear Anonymous,
NO.
Sir, In mobikwik actually I want to take a loan 60,000 instant loan at 2.75intrest but NACH was showing the start date 18-08-2022 and ending time 31-12-2099 can tell me why it was showing like that …..
Dear Shiva,
By default, they mention that. But be cautious before being in such a trap called INSTANT LOAN.
Hi sir,
I have education loan disbursement going on with one nbfc and they sent me a link for nach e-mandate and it is not working..showing error as “your e-mandate registration is rejected with reason[608- bank restricts duplicate request.account not in regular status], aadhar seeding is done for the bank and i have no idea what might be the issue. Could you please help me
Dear Keerthi,
Approach the bank.
Sir, my loan offer is activated in Mobikwik, bank is also verified. Last step is left of nach singing but it is failing.. what could be the reason for this please tell me. and solve my problem.
Dear Gautam,
Check with your bank.
Hello Sir. Recently I have started 3 SIPs. There have been 4 deductions of 118/- each in the name of NACH charges. Can you clarify why have there been 4 deductions?
Dear Shivansh,
These are bank charges. Better you check with them.
Hello sir,
Sir I had applied for a loan of Rs78k and it was approved and now the loam distributor is asking for each auto debit ,but due to some personal reason i am not able to take that loan , and my amount also not get disbursed so can I cancel my loan .
Dear Saurabh,
Yes.
Hi Sir , Still how many months NaCH get deactivated , where customer continues bounce happen more than 2 months..
In that case , need to take again new NACH or not req..
For ecs also , same query .. what need to do ..
Please help
Dear Rammohan,
I think it depends on product to product like for what purpose you have given NACH mandate.
Sir, my sanction letter has come for ? 10000 loan but I have not completed the e-mandate, then will this amount come in my account or will it not come.
Dear Suraj,
Sorry..I am unable to understand your question.
Sir I can apply a loan of 120000 on 23 may And on direct debit page it show start date 23 may 2022 and end date 31 December 2099 and also it show maximum deducted amount 100000 why ??
Dear Parth,
It is the highest mandate which they by default opt for.
sir, e mandate was done prior to approval of loan and i done it and then loan got rejected but i recieved below sms from my hdfc bank
Alert!HDFC Bank Mandate reference no: HDFC7022205220017315 issued to INNOFIN SOLUTIONS PVT LTD with value Rs. 28740.00 and frequency ADHO is received today for processing.
sir amount is not recived in my account, will bank get it cancel automatically.?
Dear Shivansh,
Better you cancel it.
Is it safe to enter atm card pin for ECS Mandate Process??
Dear Pratik,
I am not sure which bank will ask for this. Better to avoid.
Sir, I apply for 18 month tenure for loan, but NACH mandate showing emi start date showing 19/05/2022 and end date showing 03/05/2025 3 years period?
Why?
Dear Padmakar,
Contact your lender immediately.
Hello ji
Plz tell me how to search UMRN number on my account
Dear Ganesh,
Approach the bank.
Dear sir,
I confused period time and until cancel.a box show ?or×.what I fill-up.
Dear Sidhartha,
Contact your bank.
My nach dishonored due to insufficient fund. When will be the next debit date
Dear Rijo,
Check with bank.
If I couldn’t able to get loan and rejected will the nach still be applicable and deduct the amount from my account ?
Dear Manzoor,
NO. They can’t.
Hello Nivesh,
I have opted for a loan of 75000 but the nach document maximum amount shows 1lakh.
Is it that my loan is 1lakh or 75k.. if i Sign the document will the emi be debited for only 75k if paying on time.
Can you please help me with this query? Thank you.
Dear Yashwanth,
EMI will be as per schedule but the maximum amount of deductible is mentioned.
Sir I took loan from CRED APPLICATION and nach mandate was signed but this month my account didn’t have the sufficient balance so I recived a msg that NACH is initiated
Does this come under criminal offense
Dear Akhil,
It depends on the agreement you have done with Cred.
Sir what is the maximum amount in e nach.will it debited from my bank accouny
Dear Akarsh,
It is based on how much mandate you have given.
NACH for rs 20k will b presented on 7 oct, maintain ur balance to avoid penalty “… Wat does it mean?
Dear Shalini,
You have given the mandate to deduct. Hence, the bank is informing you to maintain the balance.
Cheque/NACH dishonoured in Acc XXXXX210793 for 4 times in FY due to insufficient funds. Cheque/NACH facility is stopped. Please contact Branch immediately.-SBI from where it can resolve
Dear Arpit,
Approach the branch.
Sir I am trying to activate eNach for my LIC HFL LOAN, however error is comimg as “Account type in mandate is different from CBS”. Plz help how to activate.
Dear Avineesh,
Approach the bank.
Dear Basavaraj,
My wife got sms from ICICI saying NACH mandate for (lender name) has been set up. Whereas we had gotten the mandate cancelled since the matter is in consumer court (lender is an NBFC which deducts emi from wife’s icici account). And then we never asked icici to set up the mandate. How can icici just set up the mandate without us instructing them or without our authorization. Any idea?
Dear Nilay,
If you have not signed any NACH, then you have all rights to cancel the same by approaching the bank.
If I took the 30k loan then I can return at a time 30k once???
Dear Sushmitha,
It depends on what type of loan you took.
Mistakenly I signed wrongly on nach mandate different from my bank account, is it a crime or will that come in fraud
Dear Faimeed,
NO.
Hi,
What are the NACH charges, in case cheque bounce
Dear Naveen,
It changes from bank to bank.
Nach can be approved for cc limit account of Indian overseas bank
Dear Nikhil,
Can you elaborate more?
What is the nach charges and period of the charges?
Dear Dipen,
It differs from bank to bank.
When I am trying to register NACH for SBI account through loan app, I am getting error as “Mandate not registered_not maintained required Balanc” how to resolve this. Please suggest
Dear VLN,
Approach the concerned bank.
Hi, is NACH registration can rejected if customer not maintain twice of EMI amount? Simple what amount should be maintain to activate NACH? PLs clarify
Dear Neeraj,
There is no such rules that one must maintain twice of EMI. However, you have to maintain the balance on the deducting date.
Sir my mandate amount is more than my monthly EMI of LIC home loan why??
Dear Abhishek,
Ask LIC in this regard.
How to cancel NACH Mandate and stop ecs
Dear Arpita,
You have to approach the bank or the institution to whom you submitted the NACH documents for deduction.
I started an SIP for mutual fund of Rupees 1000pm. Rupees 115 are deducted from my bank account in the name of Mandate Charges. Is this amount deduction normal?
Dear Nitin,
NO. Check with your bank.
I have purchased bajaj pulsar,recently
One month completed sir, now i was recieved this message, DearCustomer, Mandate registration- UMRN SBIN00000000 for Rs .00 issued to INDUSIND BANK CFD REJECTED-Drawer Sign Differs.Please present again-SBI.
It is better to change my sign or i can go for another bank account .please approach me sir,is there is any problem if it takes time,
Thank You sir
Dear Bhavani,
Update with your sign which is in bank also.
Is NACH charge mandatory in every EMI?
I have a loan in TATA and EMI debited from Axis but every month bank is charging 25/- for each EMI.
Dear Kumar,
It depends on bank.
Hi , I have a mandate with a company . I had promised the company to pay through EMI’s and they signed a mandate with me . The date of first EMI approached but my bank account had insufficient balance due to which there was cheque bounce . And now , I want to stop the mandate . If I stop the mandate through my bank , will I have to pay the first EMI ?
Dear Vipul,
Yes.
Sir,I have a PPF account with sbi and I have salary sb account with HDFC.Can we setup nach for auto debit.If so,pls let me know the process
Dear Chaitanya,
Yes, you can. Contact the bank.
I have initiated a mutual fund monthly SIP Plan. The mutual fund organization has initiated a ACH debit mandate. Does this debit mandate mean that money will be deducted from my account? Or it is just for registering to the bank that this mandate is generated?
Can you please help with this.
Dear Juhi,
It will auto debit.
This author is kinda stupid. If we had to check with the banks for all the reason, then why the hell will people waste their time and read your blog. If you don’t have the complete idea of this mandates, then close your blog about the mandates. No use of simple replying as “Check with your Bank” in all the comment.
Dear Varun,
Thanks for your kind words 🙂 If you give authorization and share your personal information, then I can resolve your issues. But sadly I am neither a bank nor authorized to act on behalf of you. I hope you understand and have a simple commonsense 🙂
Sir,
Everytime I try to do a mandate registration for my bank account, it always says registration failed.
Are these possible reasons,
1. Little different name in form and bank account name?
2. Aadhar not being linked to bank account.
Dear Praneethvikram,
Name mismatch may be the reason.
Does date of mandate makes any difference in the interest amount.
Dear Uttam,
Can you elaborate more?
Hi,
Is there any alternative in ENach acceptance by customer other than Net-banking.
Why NPCI, couldn’t find any alternative on this. Because most of the people having bank account doesn’t have internet banking. Which also makes physical madate form was live in the industry.
My point of view was with the help of OTP from customer registered mobile number with bank can we authenticate madate to th EMI’s. If possible kindly suggest.
Dear Santhosh,
As of now, NO.
i was making an E mandate the amount is showing 25000 and end date is also showing 100 years my bank is bank of baroda , I have started an sip of 1000pm
Dear Priyanshu,
What is your actual doubt?
Hello Sir, I applied to for a loan from Upwards landing company. I signed eNACH and but before disbursement of loan my application got rejected. My Question is… Should I worry about the signed eNACH or should I take some action to close it. My account is in State Bank of India. Please help.
Thank You
Dear Pradeep,
Request them to give you bank the NACH signed form.
Sir I have taken loan from hdfc bank and nach mandate is from axis bank and I used to pay my emi before due date from my icici account , but now axis bank is charging me with nach and cheque return charges of more than 30000,Please let me know how can I get a waiver of this charges.
This charges did not reflect in my statement so I was unaware of these charges.
Dear Arun,
Approach the bank.
My nach facility has been stopped , can you please explain me what will happen?
Dear Abhiram,
Approach the bank to find the reasons.
In emandate form, the start date and end date is showing up as 2021 to 2031 where the loan tenure which is poted is for 4 years. Please explain.
Dear Sujatha,
You can modify the dates before submission.
I availed a loan from Indusind and payment is done through ecs. For two months there is delay in payment later I paid loan amount along with ecs return charges directly to Indusind branch. Now In 0my bank savings account ecs return charges was debited.
My doubt is whether both the lender & bank will charge for Ecs.
Dear Anish,
Banks can charge. Lenders can also charge if it is in their rules.
1. I have multiple SIPs in Zerodha , do I need to create separate e-mandate for each SIP? Or just once e-mandate with assigned frequency “As an when presented” would work?
2. Through net-banking I had confirmed the e-mandate and yet my AMC SIP installment failed stating the reason of insufficient balance. However, the bank account had sufficient balance. When I reached out to the bank regarding this, they said we don’t have any access to NACH information and only the other party (Zerodha in this case) has to initiate an enquiry. Please guide me .
Thank you
Dear Pallavi,
Yes, check with Zerodha.
I have taken Housing loan from Axis Bank , Now Pre-Emi is about to deduct from my account but Axis msg me that your emi will be deduct within 3 to 4 days & also sent a msg that your NACH mandate rejected by your bank for the reason M003,
But I visited to bank today morning and checked the Signature, showing no differ between nach sign and account holders sign, what to do? Pls guide me (can I make repayment with the help of Net banking/M banking or wait for the next NACH mandate)
Dear Manish,
Check with your bank for the reasons for rejection at first.
HI,
I have a loan with Bajaj for which ECS mandate was taken along with a canceled cheque. For almost 15 months ecs was cleared and later received communication that ECS mandate rejected.
But suddenly after few months today my bank sent a communication that NACH registration is done with higher threshold whereas i never signed a NACH registration form.
How is it possible
Dear Vinay,
Approach Bajaj Finance.
Hello sir, I have taken personal loan from mamba finance and I am paying them emi before due date from another bank account, but now I came across that my axis bank account have rs 17000 deducted and I have penalty from NACH and cheque return chargers from NACH, please help what should I do now.
Dear Rakhi,
Check with the organization with which you took loan about which bank mandate you have provided. Accordingly, you can take a call.
Hi I have taken loan in icici bank but I have cleared it 3 years back,now I received a message regarding cancellation of mandate umrn , please tell me whether I should cancel it now or as I have already cleared the loan should I just go off
Dear Rohith,
Approach the bank and why it is still LIVe when you already cleared the loan long back.
Sir
If I don’t sign the mandate registration form and upload it in the website will the money be debited from my account?
Dear Archishman,
If it is not signed, then NACH can’t be registered.
Hi, I have submitted the NACH with LIC for monthly auto debits. Now, i want to cancel the NACH, however LIC is saying that you have opted for monthly payments, hence NACH cannot be cancelled. Is it true
Dear Naveen,
You can cancel with Bank. There is no such statutory rule that NACH is mandatory for monthly policies.
Hi ,
My account has dedicated with 25k. O forgotten for what it is deducted. I don’t remember for which purpose I have mandate. I have UMRN number and Transaction number of 25K.
How I should find for which mutual fund/Loan/ any…this amount is deducted?
Thanks
Dear Praveen,
Approach the bank.
What happens if somebody has registered NACH in Bank B for a Credit Card issued by Bank A to debit its total due amount whenever the bill is generated and due to any reason the person pays the amount before the due date through any other mode, then will the bank account B still be debited with full amount?
For example
Mohan has credit card from RBL Bank.
Now he gives a NACH mandate to debit total due amount from his ICICI bank account.
1. Suppose Bill of Rs 1000 is generated.
Due to some reason he pays the due amount of Rs 1000 through any other mode like paytm or google pay before the due date. Then his ICICI account will still be debited or not as the amount has been already paid.
2. Suppose Bill of Rs 1000 is generated.
Due to some reason he pays the partial due amount of Rs 600 through any other mode like paytm or google pay before the due date. Then his ICICI account will still be debited with complete Rs 1000 or only Rs 400 balance be debited as Rs 600 has been already paid.
Dear Lovish,
1) ICICI will debit the amount and pay it. However, your credit card bank will readjust the additional paid amount during the next cycle.
2) ICICI will debit Rs.1,0000 and the remaining Rs.400 will be adjusted by credit card bank during the next cycle.
I want to cancel NACH MANDATE of my sip . What should I do .payment is deduced by bd bse limited
Dear Chandan,
Approach the Bank.
Dear Sir,
I have account in axis bank and I have applied online for some loan amount which I never got now for first time the amount has been deducted automatically then I checked the charges are for ecs while I got in detail it is mentioned in that I have taken loan of 1,00,000 inr in November month but I haven’t got that and in month of January the amount has been deducted from my account of 7840/- can you just help me in that…
Dear Nitin,
Approach the bank immediately and complain.
If any co-operate bank is not debit the amount on the due date for 3 to 4 months from customer account even if co-operate bank is authorized as per the eNACH process.
1. what happens to the eNACH it is still valid and the co-operate bank still authorized to debit the money?
2. Any rule of NPCI will get violated?
3. Co-operate bank can debit the money from customer’s account whenever they want until the max limit as per the eNACH form?
hello my name poonam nyayanit my nach charges decuted amount 10000 without any intimation
direct charges cut please help this issue my all amount returned my situation very critical
Dear Poonam,
Approach the bank to cancel it.
Sir I want to cancel Indiamart emandate subscription as it doesn’t bring me any customers. How can I cancel? If I go to bank will they ask the other party’s consent.kindly reply me . Thank you
Dear Raji,
Refer my post “How to cancel or stop ECS NACH mandate?“. To cancel the NACH, other party consent not required.
I have a Sbi car loan and NACH to united bank account about 2month after disbursement. Only cph mms charge rs118 deduct once. But i have got no information about NACH status till now. How can i check NACH status by mobile banking and where?
Dear Amit,
Approach the bank.
Sir,
I have taken home loan from CANFIN for which monthly NACH is deducted from AXIS bank. However, AXIS has started charging Rs. 25/- plus GST on monthly basis effective August 2020. This I feel is completely illegal as one time NACH payment has already made by me in 2016 against said home loan.
Pls advise, what should be next course of action. I have been writing on monthly basis to AXIS but every month they are deducting for NACH.
1. Should I approach another bank with NACH mandate
2. Do I have to again pay for one time registration for NACH for changing the bank account
3. Whom should I approach against this illegitimate deduction by AXIS. AXIS modal officers aren’t responding
Thanks
Dear Vandana,
If they are not heeding your complaint, then simply raise an issue at next level. Why to move to another bank?
Hey i have dhani subscription plan . In previous month they deduct 5 times more money through NACH its been almost a month they are not responding so i cancel nach through bank .but today i received a message
We are unable to process your ECS request from A/c XXXX4393 for Rs. due to PAYMENT STOPPED BY DRAWER. For more details please visit your nearest branch-Kotak Bank
So my queries is will bank charge any charges for this bounce?
Dear Pawan,
Yes, obviously they charge.
Hi Vandana,
I am also suffering the same.
is this resolved ? Can you please share your experience resolving this ?
Hi,
The emi for my home loan in lic hfl got debited on 5th dec,2020 but on 8th dec,2020 it got deducted again.In app, it is showing for 5th and 8th.The nach for home loan was completed before this month.
Any suggestion?
Dear Sudipto,
It is an issue with LIC. I think they presented twice. Approach them to resolve the issue.
is NACH presented repeatedly ? When I signed my NACH form, I enforce the frequcy monthly. So can lender present NACH repeatedly ? what RBI rule ?
Dear Gajana,
If you mentioned monthly, then they can’t present more than once in a month.
Sir I have E nach mandate of india mart paid service but after 1 month subscription I want to cancel it on due date. I said them to cancel they did not do want to cut money from my account but transfer my money from my account. Now they are not cancelling my E mandate. What I can do
Dear Rohan,
You can cancel it by approaching the bank.
Hi Rohan, did you got your account unsubscribed? Iam having the same problem.
i want to issue ach mandate towards my car loan in hdfc from CC account in SBI. Can it be possible?
Dear Apoorva,
Yes.
Hi,
Nice Article. I have Birla Sunlife Insurance. because of misinformation by agent my auto debit facility got registered. 5 th December is the premium pay date. I put application in bank as well as ABSLI however they are taking long time to process. Bank is SBI they checked in their computers and told me that there is no mention in system. ABSLI tells me that your NACH looks cancelled but may be debit from your bank or card. No such instructions I have given to anyone .there are any other way to cancel NACH? Previously also in one such instance even after giving the application putting request for cancellation they debited. So this time I cleared my account. However money is sweeped from my flexi FD however couldn’t be debited now. will this get debited? One account is active. How many times they attempt, is it continuous process? How to save myself from this misery
Dear Biju,
Better you apply for cancellation with HDFC and make sure that all NACH mandates related to it get canceled.
Hey, is there any charge for failed
e-mandate registation? Kindly reply.
Thank You.
Dear Sameer,
NO.
Hello sir. My nach registration got rejected due to signature mismatch. Can I pay the emi online in advance without being concerned about nach registration rejection.
Dear Anshul,
Check with the bank where you have loan.
Hi, nice blog first of all. you have vast knowledge in the subject.
My query. I set up E mandate from SBI to Zerodha Coin (Mutual funds) to deduct funds for my SIP. Now I closed my SBI and wanted to set the NACH from my Citi.
I approached Zerodha first they suggest I need to visit SBI Branch. At SBI the request should come from Zerodha to stop it as the NACH was setup online. But Zerodha replied NACH to be released by SBI only.
Is there any other contact or fourm to approach for the same.
Dear Srinivas,
Submit NACH cancellation to Zerodha and once it is done, then update with new.
Sir, i have taken PL from an NBFC, in previous month i.e. sept, one ECS is returned due to insufficient fund on 2nd, I made the payment on 26th Sept, along with next month’s emi, though bank has again presented ecs in oct and collected emi of Oct twice. And also they keep sending ecs for several times in a month and i am bearing bank charges against its return. Is there any option so that i can stop/cancel NACH mandate and bring its payment on my control?
Dear Surendra,
Approach the NBFC for the same.
Dear Sir,
i have a policy with TATA AIA and that premium are getting debit from my HDFC account basis auto Debit.
i want to stop this auto facility, request needs to send to TATA AIA or HDFC Bank
Dear Sarvesh,
You have to send the request to TATA. If they not process, then the bank.
I have send the request to my bank, as TATA AIA office is not available at my location, but now Bank is asking some NOC from TATA to process this request please advise what can I do
Dear Sarvesh,
Rather than physical visiting, why not you call to customer care of TATA AIA?
Mandate Registration- UMRN SBIN0000000049468092 for Rs 28,500.00 issued to LIC OF INDIA received today.In case of any
Sir,the above message I received today..NACH registration status that I was applied while purchasing LIC Policy..at that time I paid my first installment by cash which was 23759..Now the Registered message show that the amount is 28500..Sir,I want to know the why it is more..
Dear Avinash,
Check with LIC.
I have emi of hone loan from HDFC linked to sbi ac and I have changed sbi branch from delhi to jodhpur and also changed IFSC will it effect my emi
Although my term insurance from nach got deducted with same condition
Dear Govind,
Yes, I think.
My home loan got cleared and I have got no dues certificate as well but still bank sent emandate for payment and as my account was not having sufficient balance EMI does not got deducted but NACH charges got deducted.
NACH charges got deducted due to bank mistake as they have not cleared emandate.
Is there any way to get these nach charges back as it was bank mistake who don’t cancelled emandate.
Dear Monika,
It is an issue with the bank where you had home loan. Approach them and you have every right to refund the charges.
Dear Basavaraj,
I want to check that, my last Emi from LIC is X amount, and for the next subsequent month, it will be Y amount. So, can you please guide me what amount will be deducted from my bank automatically, whether it will be X amount or Y amount. NACH was signed already.
Dear Animesh,
Usually, the NACH mandate does for the maximum amount the LIC can deduct. If your first month EMI is X and next month it is Y, then the limit is usually more than X and Y. Hence, it will continue as long as they hit the maximum amount mentioned.
I have purchased a policy last year with payment through my debit card (was not informed if NACH is applicable on it or it is under automated payment). This year i ported the policy to other company (this year premium to new company). But I was charged for NACH of a big amount supposedly for the premium of previous company. Is there any way to cancel and revert the deducted NACH amount ?
Dear Atul,
Definitely, it is a wrong thing what that earlier company did. You can approach the earlier Life Insurance company and ask them to revert the premium. At the same time, request your bank to cancel the NACH with immediate effect.
Respected sir…
I have applied for loan, the bank has given me the loan amount and issue me in the form of cheque but they did not handover me the cheque and telling that u r not eligible for loan due to some of the documents are not correct and and asking me to pay some amout for cancellation and i have paid the amount in my loan ac generated. But they are not cancle my loan and they send mandate to my bank. Now what I do, i m confused .. Is the emi is deduct from my account or not
Dear Ankit,
Why not you approach the bank and cancel the mandate?
I received below message after registering for NACH( mutual fund SIP investment):
NACH mandate registered on acc xxxxx on date xx/xx/xxxx for payment of Rs. 1 lakh towards xxxx Broking Limited. under reference no xxxxxx.
Dear Gaurav,
So what is your doubt?
Hi sir, I want to cancel my nach mandate in Citibank can I do it on online
Dear Gnanasekhar,
It depends on what reason you want to mandate the NACH. Check with the concerned.
Hi sir !! ankita here!! Sir i have applied for loan of 15,000 in Loan giving apps..Now they asked for nach..The nach they provided has maximum amt to be 15,000 and date frm 15/08/2020 to 1/12/2099 ..Sir does it mean that in every month 15,000 will be debited frm my acnt???sir this is all confusing..Please help me..Should i sign nach?
Dear Ankkita,
They deduct as per EMI schedule but they are just mentioning that in case of your default, they have a right to withdraw up to Rs.15,000 (which is your loan amount).
Dear Sir,
How to cancel nach / ECS for my LIC premium of ?5846 which is debited as monthly from my SBI account. I have mailed it to LIC but no response. I even contacted sbi branch and mailed to NACH House SBI Head as I came to know abt email add ecs.ccpcmum@sbi.co.in. but they informed me to fill the nach cancellation mandate form. I don’t know where to find that. Kindly reply.
Dear Amit,
The same NACH form has an option to cancel it. Use the same and submit to SBI.
Sir, how to know UMRN no. For My nach ??
Dear Amit,
You usually receive the SMS or contact the bank.
Thanking you for your Nobel efforts.
State Bank India , Branch code 02002
Randomly debited from my account every month @Rs 1000/ since how long don’t know ,now Noticed that INVESTMENT INTERMEDIAR ,CMP CENTER HYDERABAD.
How can I stop such debit from my Account & will get back my debited amount to credit in my account
Dear Chittaranjan,
Why you kept silent and why not immediately complain with the bank?
Hello sir,
Whether my account gets debited with the premium amount as NACH mandate was submitted while purchasing the policy.
And I have paid the premium in advance for this year.
Please comment
Dear Ashwini,
If you already paid, then there will not be any NACH auto-debit.
Hi sir,
I did a LIC policy for which the second quarterly premium is due this month. Can I do NACH in this policy paying the current due in cash.
Thanks.
Dear Vaibhav,
For this month due it is not possible.
Dear Sir,
Due to NACH my half salary is getting into closing balance if i cancell it can i use my closing balance to effective balance and what will happen if i cancell the NACH
Dear Bharath,
I don’t know for what purpose you provided the NACH, then how can I suggest something blindly?
Sir,
I want to cancel NACH which have given to Bajaj finserv
Moratorium applied still they are hiting account and it’s has gone to 9000 minus due to charges.
EMIs are less than charges
How to cancel
Dear Shobha,
It is the fault of Bajaj Finservices. Approach them or cancel the NACH with the bank.
Ive applied for a personal loan of the 450000 for 60 months and the monthly EMI’s are supposed to be 10900. Today i was asked to make NACH mandate registration and the set amount mentioned was 1,00,000 as the max amount and the first collection date was on 2-Jul-20 to the last one being on 2-12-2030.
The bank said that they will deduct the first EMI from August. This is all really confusing. Does this mean that 1,00,000 will be deducted from my account every month. Please help me with this.
Dear Vanessa,
It is the maximum amount they can withdraw but it does not mean every month they withdraw Rs.1,00,000. It is as per EMI schedule.
Hello sir,
How many times can I be charged for Nach return in a month…..last year in a month I was charged 5 times and next month 7 times then again 5 times in the following month….isn’t their any predefine frequency on which it works…..
Dear Rahul,
Charged in the sense the banker? Can you elaborate more?
Sir,
Yes bank deducted 1855 Rs for NACH Return without intimating me in the month of april,I don’t know how much amount can bank deduct they deuct 400,200,69 like that within 15 days i was so disturb because i put the moeny for EMI and they deduct or NACH please sir tell me how much amount can bank take and how, help me please
Dear Arbaz,
Approach the bank.
Hi Sir,
I have a PL on HDFC.My first EMI was scheduled on 06/04/2020.But it was deducted on 07/05/2020 instated of 06/05/2020.Whenever i checked it on HDFC internet banking there is no transaction for 07/05/2020 amount(NACH-DR- HDFC BANK LIMITED).It shows 0.00 for 06/04/2020 and 06/05/2020.Due to COVID-19 pandemic situation HDFC loan department is closed.What can i do.Please suggest me.
Dear Manas,
Approach the bank.
Hi Sir, I have a loan from Lendingkart and I have opted for moratorium now. But my account is getting debited ?295 for ECS/ACH Return Charge again and again for at-least 5 times this month. All ECS is requested by Lendingkart. I got an email from Lendingkart that my request for moratorium is approved. Now today, 3 ACH/ECS (from Lendingkart) is successful in my account and almost all balance is gone. My EMI with Lendingkart is ?25243 and today’s deduction was like 12000+, 3500+, 2000+.
Why is it like this? What can I do?
Dear Joseph,
Approach the bank and apply for cancellation or contact the Lendingkart.
Sir mera accunt ko band stop kardijye please sir bhut paise katta hai sir humlog to gareeb hain gareeb ka paise leke kya kroge sir please cancel kardijye sir
Dear Md,
Approach the branch immediately.
Hi
I registered for Byju course with nach. Pan card details were not shared by me. Only account details and nach mandate was signed. Will cancelling the nach affect my cibil if no pancard details were shared?
Dear Kamalnath,
NO.
Hii Sir,
Plz tell me about the meaning,Mandate with UMRN SBIN0000000046552583 for Rs 1,00,000.00 issued to BSE LIMITED CREATED.In case of any issues please contact branch…
Dear Gobinda,
I think you submitted the NACH to BSE. Hence, either contact the BSE or the Bank.
Mandate Not Registered_ not maintaining req balance : Throws this error on doing e-nach what it means?
Dear Gaurav,
You have not managed the balance for the auto deduction amount. Hence, the NACH canceled.
For stop nach BSES
Can bank stop these service ?
Dear Sonu,
Yes.
How do i check the status of my nach scheduled payment? Generally the debit happens on 15 or 16th of the month from my account but this month it hasn’t been debited till 19th. Could I know if it has failed through some link.
Dear Masum,
Check with the bank.
UMRN SBIN7012303200017959 of E-MANDATE SBI REQUEST ID TM01010957 OF RS. 35000 IN A/C XX2345 IS ACTIVE. In case of any issues please contact branch
UMRN SBIN7012303200017961 of E-MANDATE SBI REQUEST ID TM01010953 OF RS. 10000 IN A/C XX1647 IS ACTIVE. In case of any issues please contact branch
hello sir i got this message yesterday i dont understand what is this.i just started sip plan through the policy bazar and its about 3057 rs per month but why this message to me please help me sir
Dear Aditya,
Check with Policybazaar.
How I can cancel/stop mandate with UMRN (SBI) which I have given for purchase of extramarks education app. I want to cancel/stop this mandate
Dear Satinder,
Approach the Bank.
Dear Customer Mandate reference no: HDFC0000000012107869 issued to BAJAJ FINANACE LIMITED with value Rs. 50000.00 and frequency MNTH is received today for processing. In case of any issue please get in touch with your branch.
Please clarify sir .I didn’t filled any NACH form to Bajaj Finance
Dear Dharani,
Approach the bank for cancellation.
i want cancel my ecs online mandate i went to bank my banker ask me give me UMRN AND UTILITY CODE FOR MANDATE AND NACH NUMBER HOW I GET THE DETAILS PLEASE HELP ME.
MY BANK ICICI BANK
MY DEBTOR. BAJAJ ALLIANZ LIFE INSURANCE
Dear Mohamed,
I replied to your email.
Hi Sir,
I applied for personal loan, and as a part of instant disbursement I registered NACH Mandate, which was successful.
The loan amount is not yet disbursed, so is there any possibility that bank can deduct amount, as mandate registration is successful ?
Dear Sudeep,
No, they can’t
Sir maximum amount filled by bse star mf is it right??
Dear Abhishek,
Can you elaborate your doubt?
Sir ,
I have invested in a sip through a broker , for which money is being automatically deducted from my bank account through Nach. Now I want to cancel the said Nach. But I have not received a proper response from my broker regarding the cancellation. Please advise.
Dear Suguna,
Approach the mutual fund companies directly.
Cheque/NACH dishonoured in Acc XXXXX for 4 times in FY due to insufficient funds. Cheque/NACH facility is stopped. Please contact Branch immediately. How do i reinstate the same.? From which bank do i have to follow, my bank or lender’s bank ? And how do i proceed with the issue.?
Dear Arjun,
Lenders.
How can I cancel the NACH in my account
Dear Rupshan,
Either approach the bank or to whom you submitted the NACH.
I just received this msg
Dear customer,
Mandate reference number ANDB7000000003854890 issued to SNAPMINT CREDIT ADVISORY PVT LTD E SIGN with value 1387 and frequency As & When Presented on a/c No. XXXXXXXXX3068 authenticated by you has been submitted in NACH system. If you have not submitted this document please approach your bank branch immediately
I didn’t buy anything from them i jus checked over there why the asking for emi??? Can i. Remove this inquiry from My system
Dear Inderjit,
Approach the bank and cancel it immediately.
I also got similar message which is “Mandate with UMRNSBI0000000046062054 for Rs 20,000 issued to LIC HOUSING FINANCE CREATED. In case of any issues please branch”.
First thing is I don’t understand what is the meaning of this message and the second thing I have never done such transaction in which I will pay 20,000 to the LIC. Please help me.
Dear Anirudh,
Do you have any housing loan with LIC? If not, then approach the bank and cancel the same.
hello sir
i applied for loan through INDIA LEND and got approval form PAYSENSE after submitting documents and NACH form i did not recieved any amount till yet…i am afraid if they deduct EMI without disbursing loan ..pleasr help what to do
Dear Jatin,
Approach the lender.
Hello sir, is NACH mandate to transfer the PF
Dear Kaveer,
Can you elaborate your doubt?
Hi sir,
My NACH has been rejected 4 times in this FY so NACH has been stoped. What I do how can I enable it again.
Please help.
Dear Kanwar,
You have to re-register.
Where I have to re-register whether with the Bank where i have Account or with the lender who gets EMI.
Dear Kanwar,
Through lender.
Hi sir,
Amount has been deducted from my loan provider a week prior to the due date and it mentions NACH on the statement. But I never filled any nach or ecs form. I contacted the bank provider and they say that the ECS request has been submitted. Any idea on this. Please help.
Dear SK,
Then bank can say from whom they received that NACH and accordingly you can request for cancellation.
There is charges every month for the ecs and it’s keep on increasing, how to avoid it
Dear Dhanshekar,
Approach an entity to whom you have signed a mandate.
why nach mandate amount and installment amount is different
Dear Samal,
Nach Mandate amount is maximum and installment is your actual deduction.
what will happen if nach payment is on Sunday
Dear Pritam,
It will be deducted on the immediate next working day.
Sir I received a message saying like the below mentioned. I’m a little worried about what it is as I have never registered for anything as such
ACH Debit mandate registered for Rs. 50000 /- in A/c No.***** for BAJAJ FINANACE LIMITED with UMRN No.********. Please help me
Dear Megana,
Approach the bank and request for cancel.
I was looking for a instant loan n during the registration I was asked to register with NACH and there was Amount of RS 5500, so what is that it also mentioned the expiry date of one year from today so can you explain will I be able to charged for the registration or what does that amount indicate
Dear Abhijeet,
I am not sure what you are pointing with respect to Rs.5,500. But I think it is your EMI. Expiry date means the said NACH is for a year.
IS NACH APPLICABLE IN ABROAD AS WELL?
Dear Santosh,
NO.
Hi sir, i have recieved below message from my bank can you please assist me with this
Dear Customer,Your NACH mandate for HDFC BANK LIMITED has been declined due to reason – Amount in words and figures differ on 07-NOV-19.Please contact the biller where you had submitted the mandate.
Dear Goutham,
What assistance do you need? The message is clear.
Sir i have a doubt.. suppose my premium date is 23 oct but due to low balance it lapsed and 295 ach return charged. If i dont pay premium till 23 Nov and so on will bank keep on charging for ach return every month. Btw i dont want to continue my lic policy. I was being fooled by my family member
Dear Deep,
It is up to your bank to charge on NACH. Hence, better to be in touch with bank for charges related.
Hi,
I received a message saying, ‘Dear Customer Mandate reference no: HDFC** issued to IDFC FIRST BANK LTD with value Rs. ** and frequency MNTH was rejected due to the reason ‘Data Mismatch With Image – Payer Name’ received today for processing. In case of any issue please get in touch with your branch.’ what does this mean and am I supposed to be worried??
Dear Akshay,
Yes, better to check with your bank immediately.
Dear Customer,
Mandate egistration-UMRN SBIN5000000036798417 for Rs 1260.00 issued to IDBI BANK LTD received today.In case of any issues pls contact branch.
With Regards,
Assistant General Manager,
State Bank of India
61076,NATIONAL AUTOMATED CLEARNING HOUSE
Mujhe ye mail aya but mene nach ke liye form filup nhi Kya h mujhe ye payment stop krna h branch se bola gya idbi Bank se hoga…plz help acs ecs return ke karna mere account se kariban 700 RS debit Kar liye gye h…
Dear Mohan,
Check with the bank itself.
Is it possible that NACH mandate is updated in one bank and amount get credited to other bank?
Please kindly let me know.
Thank you
Dear Yogesh,
The bank you updated and the amount to be credited must be same.
my sbi account debited with nach of lic.i have not any lic policy.so why debited my account two-three per month.how do cansel of it.
Dear Hitendra,
Request for cancellation with your bank.
my NACH service is stopped due to cheque bounce how it start again please clear
Dear Jiwan,
You have to re-register for the same.
Sir I have received this message from my SBI BANK
Cheque/NACH dishonoured in Acc XXXXX412523 for 4 times in FY due to insufficient funds. Cheque/NACH facility is stopped. Please contact Branch immediately.
Now how to I reopen my check facility…? Please tell me sir
Dear Pranjal,
Contact the branch and request for fresh NACH registration.
Same issue with me too. Branch manager of SBI is saying they can’t help contact corporate office. Where is this corporate office and how to contact them?
Dear Rochak,
Ask them than me.
Dear I have LIC NACH i want to cancell my mandate NACH.I have account with SBI bank.i have approched sbi bank branch for the cancellation for mandate NACH. they said to contact LIC. what to so sir?
Dear Sunil,
Yes, give the cancellation request to LIC.
And LIC would say contact the bank. Very incompetent government employees.
Dear Kishan,
Sadly YES.
Why CC Cash Credit Accounts are Not Getting Approved BY NPCI Rejection Reason “Mandate Registration Not Allowed For CC Account’
Dear Sujay,
CC Accounts are meant for a different purpose and hence the rule.
I want to cancel my nach.. please help me.. how to cancel my nach through netbanking. please help me its very urgent
Dear Shashti,
You can do so by approaching the bank (not through net banking).
I cancel loan from nbc company. But they had registered Mandate Registration: umrn today. I also not received amount from them. How to cancel this before it starts.
Dear Thanigai,
Approach the bank for the same.
Sir,
Nach mandate cancelled by mistake from mobile banking.
Will it update by self or i have to upload nach again.
Or will any extra have to pay.
Dear Sumit,
You have to apply again.
Sir,
Can i apply for NACH mandate which cancelled by mistake to my bank or to the institution from where i have taken loan.
Dear Sumit,
It is better to apply for NACH with the institution from where you took the loan.
HI MY NACH/ CHEQUE SYSTEM HAS BEEN STOPPED BY BANK . CAN OTHER AMOUNT LIKE PF / SALARY CAN BE CREDITED IN MY ACCOUNT.
Dear 6,
It depends on to which your bank details are linked. How can I say these?
Sir,I got message of a mandate value which shows high amount than the actual emi amount of my loan.why ??
Dear Vivek,
Because they mentioned the maximum limit they can be allowed to withdraw.
Sir you mean it is risky to give NACH mandate to such lenders
Can I stop this mandate by contacting my home branch
Dear Babu,
I am not saying risky or what. But I am saying, be careful why giving mandate.
Is there any technical difference between ECS and NACH? Or is it just change in name? I see no difference between these two except registration/payments becoming faster(although it does specify how it is becoming faster)
Dear Pratik,
New version is NACH.
I took Card swipe machine for my business and gave NACH mandate for it . They are now deducting unnecessary charges .Now I want to stop it.The company people are only available via call centre. What should I do ?
Dear Kumar,
Approach the bank and cancel the NACH.
My bank is PNB and Pos supplier is First data sevice (ICICI joint venture) . My bank branch says it is unable to do anything. First data service has no physical office , only call centre no. and mail I’d.
Dear Kumar,
Let PNB give in writing that mandate is not possible for them to cancel.
Hi… Thanks for the article. Most of your articles help me get a clarity on insurance and banking things.
One doubt: Is NACH mandate compulsory when I start a long term insurance policy ? Or am I still allowed to go in the website and pay online premium myself ?
Dear George,
There is no mandatory thing. You can pay the premium as you wish.
Thanks Basavaraj 🙂
Hi, i am doing my personal finance buz…and taking chq from cusomer as emi. Can i use NACH?… IF yes than how it work on every month.
Dear Atul,
Let your customer submit the NACH with you and then you have to submit to the respective banks.
Hi sir.
How to apply for cancellation ??
Dear Sarita,
Contact the branch for the same.
Is there any way to get the UMRN money back which has been dedicated from my Sbi bank ?
Dear Akshay,
I think you are asking for the refund where the money is debited from your account right? Sadly NO.
Hi Sir,
Once the NACH form is signed by a person and given to the company to whom the amount is to be paid, can the person go to bank and ask them not to process the payment to the company mentioned in NACH form, will the payment process be stopped by bank..
Dear Jaya,
YES.
How do I cancel my NACH Mandate that I submitted for a loan? The loan was rejected. What is the procedure to cancel NACH Mandate?
Dear Aakash,
Approach the bank.
why my mandate amount is registerd with Bank more than my actual
EMI amount?
Dear Amita,
Check the same to whom you provided this (Banker where you received the loan).
Sir o online app I have applied for loan. They asked me to sign the nach copy and send. I sent it. Soon after I sent the signed copy they rehected my loan. Is there possibility that they submit it in my bank. Can I cancel that application.
Dear Abhilash,
Check whether the NACH is registered or not with your bank. If not, then no need to worry. If it is registered, then apply for cancellation with bank.
Respected sir.
Mene apna form submit kiya hai PM SYM yojna m. Jisme 1st installment submit kr di h lekin aage ki installment account se auto debit krwani hai..jha pr mandate form upload krna tha vha par galati se photo upload ho gyi hai..or form successful submit ho gya hai..lekin jb mandatory form rejected hoga to mjhe kya krna pdega..kyuki PM sram yogi maandhan yojna m mandate form dobara upload krne ka option nhi aa rha hai.. so pls agr apko pta ho to btana plsss
Dear Subhash,
Contact the bank to find the reasons.
What happens if I paid loan emi in cash on time in nbfc bank but given nach mandate to lender. ? Should I have to pay bounce charges?
Dear Chetan,
Yes, because your NACH transaction failed right?
IN NACH form their is a Tick option of As & When Presented option in Frequency . kindly tell us what is the proper means of this options
Dear Bhupinder,
It means whenever the institution submit the request for fund to be withdrawn from your account bank can accept it. This is what the meaning is.
Contacted branch but of no use..they gave a user code which is india ideas i.e. billdesk
Payment getway …but for whom for which could not be traced!
Pls help
Dear Satyasis,
Try to identify the recent financial transactions of your’s or to whom you provided any documents.
Got this message
Mandate Registration- UMRN ……. for Rs 6,000.00 issued to IndiaIdeas received today.In case of any issues pls contact branch
Now I don’t remember any mandate registration recently. Is there any way to track online by UMRN,who and for which is going to get paid?
NACH facility start my company but process not found plz help
Dear Badal,
I am unable to understand your comment. Can you elaborate more about your doubt?
Sir,
My mother has received a message that mandate registration-your umrn sbi issued some amount to hdfc it has rejected- invalid frequency. What does it means?
Dear Srujana,
I think someone registered for NACH. Also, it is rejected. But still, better to cross check with bank regarding the details.
Sir,
I have took two Wheeler loan from hdfc bank.
Today i got a msg thAt Mandate registration- UMRN SBIN0000000023931728 for Rs 4,722.00 issued to HDFC BANK LIMITED REJECTED-Drawer authority to opera.Please present again.
What does it mean? And what i need to do now.
Hope i find the answer Your answer will be appreciated .
Dear Pankaj,
Check with your bank for the same.
Nach rtn charges how to stop sir
Dear Anil,
You can’t as it depends on bank.
I think I’ve asked you baseless question. Its okay Sir, Sometimes we have to find answers ourselves. By the by thanks for you reply on April 21, 2018.
Dear Khirod,
Please repeat your question.
Sir I apply plot loan in lichfl but they delay to sanction so plot owner cancel deal I request lichfl cancel my loan but they have issues cheque in favour of owner and mandat umrn present in bank I received msg
Can I cancel my mandat umrn
DearAmrika,
Yes, you can cancel it. Approach the bank for the same.
Dear Sir,
This is Khirod again with another concern.
I got a question to ask; Whether checking CIBIL score for free online (once in a month or on a regular basis) hurts Credit Scores? Sir Last night a good friend of mine who is an advocate himself had asked me this question and I wonder who should I ask for! I would really be glad if you clear my doubt on this as last time with the help of suggestions I’ve cleared all my loan dues and almost checked thrice my Credit Score online.
Thanking You
Khirod Maharana
Sir i have taken a loan from indiabulls for 1 lack and emi for same is 4802. I am paying the emi on time but i recieved a mesage from my bank of some UMRN and rs 5763 in favour of IVL FINANCE. What is that sir.
Dear Hitesh, Not sure what it is. Better to check with your lender.
I got a message fro hdfc that ach debit mandate is registered for 30474 in my ac for hdfcltd with umrn no.XX
I do not know what is that for > have a personal loan from HDFC for 1 lac and Instalment is 3406.
Please suggest
Sharad-Cross check with your bank for the same immediately.
I received similar message today. Did you check with bank. Any idea please
Sir,
My NACH form rejected twice by my Bank now I’m paying EMI manually since a year (every month in time). However still they are saying I’ve an overdue of more than 5000 rupees.
Is this going to affect my CIBIL score?
Khirod-Yes, if there are dues in EMI then it will affect your credit score. Hence, better to check the reasons for NACH rejection and how the dues left.
Thank you for your reply Sir.
Sir,
September 2017 I had taken loan from LIC and from November, 2017 to till date I am repaying each month through my cheque. .
every time my Canara Bank msg says “Drawer’s authority to operate account not received”. Again I will go to LIC and in this process I have signed 3 times in NACH forms. Every month i am getting a msg from LIC reminding me to pay my repayment.
I placed a complaint with LIC and i got a reference no. I had sent several mails to my bank and LIC. recently i got a msg from LIC giving some UMRN no. and asked canara bank to check the status. Now i am requesting my bank. They are telling there is no information for them.
But UMRN no. says CNRB……….. means it is given by canara bank only.
could you please help me what should i do next.
Anu-I think it is issue with Bank.
thank you very much for immediate response sir. I have been requesting my bank to check the status so that i can repay without any problem.
Hi,
I have created a NACH mandate Form a particular company but now i want to cancel it, I have filled the cancellation Mandate Form, my question is to whom should I submit this cancellation form to my bank or to the company in whose name i have created. submitting the Cancellation form to the company if they dont abstain from taking the cancellation form than what should I do?
Kainat-You have to submit it to the company in whose name you have created.
If they refuse to take the cancellation form What to do?
Balu-Why they REFUSE?
I hv received an email which states UMRN failure notification.. reason is drawers signature differs.. so now wat is the procedure? Wat is umrn?
Evangeline-It is due to signature mismatch which you signed on NACH form to the Bank data. Hence, you have to re-register once again for NACH.
If rejected due to signature mismatch do we have to relaunch mandate at bank or company issuing mandate e.g. loan provider?
Dear Smriti,
Yes.
Sir
Lic premium payments,NACH mandatory is compulsory for monthly premiums? Our agent told me”lic allows quarterly, half yearly, yearly premium payments in any mode like cash, net banking etc, but monthly premiums through only NACH” IS IT true? Please give me suggestions..
Balu-Not mandatory. It is for his convenience he is saying so.
Thanks for your suggession,one more doubt sir,
Can i remove NACH mandatory at any moment i meant after paying 2 or 3 premiums?
Balu-Yes, it is purely your decision.
I taken money from wallunt but I want to take money again it showing low balance in my wallunt and nach rejected by my bank Plz help sir i want money urgent Plz help me
Dear Vinay,
Approach the bank.
Sir,
With purchase of SIP through MF Utilty PayEezz will I be provided with URN of Fund Houses? If so, do I need to Add Biller details of AMC’s in my mandate account? If no, how do I go about it?
Alo-To register initially you no need to provide URN.
Hello sir,
This is a nice article.
I have a personal loan, Dec 5th 2020 is my first emi date. And I enabled NACH for auto payment. I have sufficient balance(30*emi) and my loan bank(Incredible) said insufficient funds and SBI said didn’t received any request. Now Incred charging me for that and I don’t know exact issue.
Please suggest me to whom I need to contact to resolve my issue.
Thanks in advance.
Jeevan
Dear Emmpati,
Better you resolve the issue with the lender as they are the one who did wrong.
Hello sir,
I have planned to buy a mobile using card less emi (zestmoney.in).
On the registration process, they asked me to enter the netbanking user id and password in their page to check for transaction details so that they can verify the income level in my account.
Is it safe to enter the netbanking user name and password details?
Does all other card less emi options ask netbanking details?
Shree-Never do that. Instead, let them ask for a hard copy of the past transactions.
What is mean about these messages yaar being very busy in corporate work non bank replied by customer care no. Earlier I transferred my personal loan balance from HDFC to ICICI with emi from SBI
Pls see below message
Dear Sir,
We have instructed our bank to remit Rs. 23075 to your account by NEFT towards 72010534160400000021-TP022720105179279297-CLAIM
Dear Sir,
We have instructed our bank to remit Rs. 19064 to your account by NEFT towards 15320034170400000032-TP022153200179292171-CLAIM .
Mandate registration- UMRN SBIN0000000018474821 for Rs 5,69,040.00 issued to ICICIBANKLTDRAOG REJECTED-Drawer Sign Differs .Please present again
Pravin-It is your hard earned money. If you are so busy, then NONE CAN PROTECT YOUR MONEY or YOU. Take time and be in touch with your concerned BANK.
Dear Mr.Basavaraj,
I have registered a NACH mandate to pay my SBI home loan from citi bank account. Generally how many days does it take for the registration process ? Is there any way to know the status of registration process.
Thanks in advance
Harsha R
Harsha-It will be registered within 15 days or so. Check with your banks for the same.
My EMI would be Rs 1800/- for sanction loan of Rs 35000 and they are telling me to sign NACH of Rs 35000/- what should i do
Hitesh-It is up to you and your bank.
ACH Debit mandate registered for Rs. 35000 /- in A/c No.XXXXXXXXXXXXXX for LIC Housing Finance Ltd with UMRN No.HDFCXXXXXXXXXXXX.
My actual EMI amount is around 30500, why is the amount of the message more than actual EMI? Is that the maximum amount that can be transferred from bank to loan account?
Please explain.
Lokesh-Check with Bank.
Ach mandate charges 59 is one time or every month?
Vikas-Not every time. If they are charing, then contact your bank.
My EMI IS 17061 WHICH WILL START FROM NEXT MONTH FOR PERSONAL LOAN BUT I RECEIVED MSG FROM MY BANK ACH DEBIT MANDATE REGISTERED FOR RS 25000 PLEASE TELL ME NOW THEY WILL DEDUCT 25000 RS FROM MY ACCOUNT IF YES THEN WHAT I SHOULD DO
Mahesh-Check with bank.
I got the massage twice , you nach mandate ********* for HDFC has been setup under ICICI bank with different Nach number . Is there any issue ? I had applied for the the loan from HDFC bank ..
Deepak-I am not sure why two NACH were set up. Check with HDFC Bank for the same.
Sir my premium of lic is 14735 but i recieved nach mandate registration message from sbi bank for rupees 17700 hows so? Please help
Santosh-Usually they round it off. If you don’t want that mandate but want to set it to exact premium amount, then you can cancel it and re-register it.
mandate with UMRN SBIN………..XXX for rs 15000/ issued to union bank of india created on 30/1/2018.
what does this mean. But amount deducted on 01/02/18 is 17720/.
17720 is the current emi which is to be reduced to 15000. This has not happened.
Sundar-Check with your lender and bank.
checked with sbi, based on that , a mail highlighting was sent to sbi. This will be forwarded to clearing house. which is the clearing house and their site address?. will thereversal happen
,
Sundar-NPCI is the clearinghouse.
Mandate with UMRN XXXXXXXXXXXXXXXXXXXX for Rs 1,00,000.00 issued to BANYANTREE SERVICES received today.In case of any issues plz contact branch
Please tell me what is UMRN means… i donot have transaction of 1 lac… to Banyan tree services…
Saket-Whether you have given auto deduction from your bank to the concerned firm, if so this is in this regard. If not, then contact the bank immediately and cancel it.
Hi Saket,
I too got this same message today. I called my branch but as usual no response. What did you do in your case? please advise.
Mandate with URMN SBINXXXXXXXXXXXXXX for Rs 30,00,000.00 issued to BSE Limited Created. In case of any issues please contact branch.
I got this SMS from AD-CBSSBI.
I do not what it is and 59.00 Rs is deducted with ACH CHARGES. Please help me understand and how can i revert it
Regards,
Raghavendra
Raghavendra-Whether you submitted ECS (NACH now) form to anywhere? If not, then contact the bank immediately for the details.
Dear Sir ,
Please tell me what is the meaning of above sms , I have also received same .
Dear Tayan,
What doubts you in above SMS?
Mandate with UMRN XXXXXXXXXXXXXXXXXXXX for Rs 50,00,000.00 issued to BSE Limited CREATED. Bank also debited Ra 49/- for this. I never going to do 50 lac transaction. Please sugeeste how to revert this mandate
Kishore-Use the same above shared NACH form and can modify it.
Dear customer,your security NACH mandate towards Loan ***** has been sent for registration to your bank vide **************************. Please request your bank to register the mandate . Mandate will be presented only if the EMI is not paid.
Can you please explain what should I do??
Prachi-I don’t think personally visiting the bank and informing about NACH mandate is required. However, it is still better to inform to your bank about the same.
NACH facility available is Baroda rajasthan khetriya gramin bank
Anil-Check with Bank.
Hello sir my account is in Peerzadiguda branch from my a 2950 rs has been Dr Debit why
Dheerandhar-Not sure what you are questioning?
I have problems by the third party
That customer from Nach services he told I will provide loan
But he had taken my documents with that by one application he had send by camden technology issuing loan but after sending my bank statement from my account he had kept consumer loan as I am getting problem with this person
Thanking you sir to stop Emi by the Third party
I am doing NACH payment to an NGO through HDFC Bank. Now, I want to cancel NACH. How do I cancel/withdraw NACH payment? What is the process? Please help.
Noor-Use the same NACH form and apply for cancellation.
Hi, Thank you for your help. Is there a way to to do the same in online?
Noor-NO.
Okay. So I need to approach the NGO, fill the cancellation form and submit.
Sorry for bothering you.
Noor-Yes.
Signature, account number, & name verify or direct debate happens.?
Dinesh-Direct DEBATE?
Without verification how can they directly debate from our account.?
Dinesh-That is DEBIT not DEBATE. They verify your original documents while doing KYC. If not done, then you can raise the complaint.
I filled one nach form but done wrong signature.
Since the debit happens.
That’s not fair.
Dinesh-Then you can question the bank.
Sir
I TAKE A PERSONAL LOAN BY INDIABULLS .AND SIGN A MANDATE IN FAVOUR OF INDIABULLS.BUT I RECIVED A ALERT MASSAGE BY MY BANK THAT Mandate Registration- UMRN SBIN00000000XXXXXXXX6 for Rs 2,632.00 issued to AXIS BANK received today.In case of any issues pls contact branch.SIR HERE SHOW THAT MY BANK ISSUE MANDATE REGISTRATION TO AXIS BANK .BUT I TAKE LOAN INDIANULLS.SIR I AM NOT UNDERSTOOD.PLEASE SOLVE MY QUERY.WHAT NAME SHOW IN MY ACCOUNT STATEMENT WHEN EMI DEDUCTED.
RSM-I am not sure of why Axis came into the picture here. Contact the branch of SBI immediately.
Recently I bought an insurance policy from future Generali and they gave me an offer that we are crediting 4lacs business per month in your account and you get 4% commission. So my question is this,that after this can I pay tax for this.
Darshansingh-I am not sure about this. Can you elaborate the more?
thanks for reply but my problem is same . let’s have one more issue if you don’t mind . If I am getting nach mandate msg from sbi so , can they have right to deduct money from my account.
Darshan-YES.
Hi i had applied for nach mandate for my lic policy… i got a confirmation msg dat my further premium will be deducted from my bank account but my premium hv nt got deducted wht do i do?
Hi,
I took loan from HDFC and now applied for NACH which must be paid by CENTRAL BANK OF INDIA. When NACH form was came to CBI then it got rejected due signatue differ. And CBI charged ?250 +?45 for mandate reject charges.
Now my query is when mandate is rejected then how bank can charge such amount. And for your information till now 7 or 8 cheques are cleared from CBI aginst EMI payment for this home loan.
Please suggest.
Praveen-I am not sure about charges. Check with your bank as it is bank specific.
Mandate Registration- UMRN SBIN00000000×××××× for Rs 22,000.00 issued to LIC HOUSING FINANCE received today.In case of any issues pls contact branch.
My normal deduction amount per month is Rs.15,758/- for loan amount for LIC HFL but i recived above message from sbi.
Plz, reply me soon what is the meaning of above message.
Ashish-May be they set a higher limit to avoid future registration. Check with them for the reason.
I have denied to sign nach which was a very high amount than actual loan.
Can the creditor use nach to withdraw money from my account if I have not signed it.
They are sending me nach e-signed emails as I denied to sign the nach.
Paras-I am not sure why they are forcing you to sign the NACH more than your loan. Discuss with the bank for the same.
I took a person laon for 1 lack but creditor is asking to sign a nach form for 3 lacks
Please suggest
Paras-Never do that.
Thanks Basavaraj
mandate registration: UMRN :sbin000000xxxxx fro Rs 1500 issue to LIC of india received today. in case of nay issues please contact branch.
i received above message from SBI ,for auto deducting for LIC , but my premium amount is 1141 .00/-. but in messagge its 1500. what is the reason.
Pavan-May be they mentioned the maximum limit.
Thank you so much Basavaraj. 🙂
The Loan account is in by brother’s name but the EMI debit account is in mine.The first EMI got rejected due to “Payer name mismatch” I contacted the bank that provided the loan and they asked me to submit the ACH mandate form.Can you please let me know if I submit it , will it get rejected again due to Payer Name mismatch ?
Also,Is the Loan account name permitted to be different from the debiting account name ?
Abhishek-I am not sure how bank suggesting such things. The money should be payable from the person on whose name the loan is sanctioned.
Thanks for the info Basavaraj. When I applied for the loan they said that loan can be in my brother’s name but EMI can be deducted from my account.Now because of their error I have to go to their bank every month and pay manually.Is it possible to change the payable account to my brother’s name ? . HDFC is a terrible bank , this is the last time I would be associated with them for anything !
Abhishek-I am not sure about how they change. But this is the mistake actually.
Today rs 59 deducted from my sbi account as ACH charges.. for what i donot know …..but in 11 sept i invest 1000 in a mutual fund by online(through etmoney) …for this money deducted… plz tell sir…or it deducted every month or not
Alok-As per my knowledge it is one-time charge. But confirm the same with the branch.
I am buying 3 SIP’s from ‘Aditya Birla Money My Universe’ online portal which will cost 3000 per month.
While filling OTM form instead of selecting amount as ‘3000’ and frequency as ‘monthly’, they have selected amount as ‘100000’ and frequency as ‘As and when presented’.
Just wanted to know is it fine??
Or is their any issue??
Nishit-It may be because to use the same registration for your future investment. However, cross check with them for confirmation.
I have applied for loan cancellation, but NACH is mandate by bank, can I cancel from my saving account bank.
Hitesh-Yes you can at any point of time.
I have a loan with axis bank and i have emi deduction from canara bank but i received msg from axis bank saying that my bank has rejected NACH mandate form kindly let me know what should be done.
Nidhi-Try to identify the reasons for rejection from Axis Bank. It may be due to signature mismatch or error in filling NACH form. If you are unable to identify the reason, then no option but to submit it once again.
my frencise company seeks payment through ECS, But my bank (Indian Overseas Bank) has charged some amount from my current account with a detail written “ECS/NACH transaction charges” for the current transaction. nothing was charged previously for my ECS’s. can you help me what is this for?
Raj-You have to check with your bank with respect to NACH registration charges.
Hi,
Thanks for explaining. I took a home loan from HDFC housing last month and selected SBI bank account from where the EMI will be deducted. Just got a confirmation that ACH Mandate Registered. And an amount of Rs 59 deducted from my account. Just want to know that will these 59 be deducted on every EMI or is it one time charge only.
Thanks
Rohit-No, this will not be deducted every month. It is in my view one-time registration charges levied by your bank.
Hi, I have taken a loan amounting Rs. 3 lacs from Citibank and the EMI of Rs.9963 will be debited from my HDFC saving account. I got a sms from HDFC that my ACH mandate has been registered for Rs. 40000 and provided me the UMRN reference number.
Just wanted to check what is this 40000. I have tried reaching citibank and hdfc they don’t know anything.
Thanks
Rics-I am not sure about Citi Bank. But HDFC Bank must have the information. If it is not related to you, then request for immediate cancellation.
what is this nach .i have done 7 sips for each sips they deduct RS 115 without any reason. I dont know why they deduct for sign verification charges.
Sanchin-It is not the issue with NACH, but with your bank. Check with your bank for charges.
I invested lump sump amount 150000 rs. in one of Mutual Funds.
I provided a cheque of the required amount.
After few days, I see that, 57.50 rs is deducted from my bank account with justification as ‘ACH MANDATE CHARGES CREATE 00057.50 MF Utili’. Is it proper?
Dhruv-Usually banks charges for this and you have to check this with your bank.
Hello
I just wanted to know whether we can do the NACH Process completely digital without any intervention of wet signature.
If we can do this in any way just need to know.
Shubham-NO.
If I transfer my pension account from one SBi branch to another SBI branch will there be any issue with auto debit
to various Mutual funds.
Prabhakar-I think so if they change the account number. Check with bank.
December 5, 2016 at 6:53 AM Mahesh-They can provide you UMRN number.
who will provide umrn number ?????????icai ,,their banker , or nach or my banker ??????????please be specific inyour reply
Mahesh-The financial institute to whom you submitted the NACH form.
[[[ 1 ]]]PLEASE REPLY TO MY MAIL DATED 10TH MARCH 2016 FOR ENROLLMENT BY PHYSICAL FORM OR BY ELECTRONICALLY ALSO CAN BE DONE ????? [[ 2]] WHAT DETAIL ARE GIVEN FOR REGISTRATION OF NACH MANDATE AND BY WHOM IT IS TO BE GIVEN TO CUSTOMER ?????
Mahesh-Enrollment should always be gone through financial institutes like MF or any other institutes.
[[[ 1 ]]]PLEASE REPLY TO MY MAIL DATED 10TH MARCH 2016 FOR ENROLLMENT BY PHYSICAL FORM OR BY ELECTRONICALLY ALSO CAN BE DONE ????? [[2]] AFTER COMPLAINTS TO HIGHER AUTHORITY , MY NACH MANDATE WAS SENT BY ICAI THROUGH THEIR BANK TO MY BANK ON 30TH AUGUST 2016 AND IT WAS REPORTED BY MY BANK AS REGISTERED BUT NO REFERENCE NUMBER PROVIDED INSPITE OF REMINDERS TO BOTH ICAI AND MY BANK.WHO IS SUPPOSED TO PROVIDE THE DETAIL OF NACH REGISTRATION AND WHAT DETAILS OTHER THAN REFERENCE NUMBER SHOULD BE GIVEN TO US FOR RECORD AND FUTURE CHANGE ???????
Mahesh-They can provide you UMRN number.
Dear customer your security NACH mandate towards loan .. has been sent for registration to your bank vide UMRN… Request your bank to register the mandate .. what do you mean by this
Sunil-It is the NACH registration process.
Dear Sir,
What are the charges for the NACH Mandates, My Bank ( AXIS ) has deducted 130 rs per Mandates of SIPs, also deducted 1000 rs for a common mandates for a Online Purchase services.
Viralkumar-It depends on your bank. But it must not exceed the charges applicable to services like RTGS and NEFT.
I faced the same issue. SBI bank has also deducted rs 59 for ACH mandate charges.
Kunj-Check with your bank for charges.
this was the message i got from bank “security NACH mandate towards loan vide UMRN has been rejected by your bank due to drawers signature mismatch” , after debiting 2 months of my EMI from the bank, just before third month i got this message. Will my EMI debit this month will get affected due to this? the message i got just two days before third month EMI due date. How to resolve it? pls guide me
Ramasamy-Yes, ECS may not be there for this month. Hence, better to contact bank and resolve the issue. But I surprised how after 2 months processing, suddenly signature mismatch issue arisen.
please ask to your finance company they debited your 2 month EMI through Cheque. & processed NACH rejected recently.
WHAT IS TIME LIMIT FOR CREATION/REGISTRATION OF NACH DEBIT MANDATE FORM ??????
I HAVE GIVEN NACH DEBIT MANDATE FORM TO I.C.A.I. MUMBAI FOR PAYMENT OF YEARLY ASSOCIATE MEMBERSHIP FEES ON 26 TH JULY 2016 BUT THEY HAVE STILL NOT REPLIED TO MY E MAIL REMINDERS WHETHER SAME IS SENT FOR REGISTRATION ???? .TO WHOM WE HAVE TO COMPLAIN AS EVEN THEIR PUBLIC RELATION OFFICERS ARE NOT REPLYING??????
Mahesh-It hardly takes less than 15 days. You have to contact to ICAI only.
# There is no such dispute management system placed in ECS. However, in NACH it is well set and can be resolved issues easily.
THIS IS AS PER YOUR ARTICLE.
I HAVE REQUESTED FOR NAME ,ADDRESS AND E MAIL ID OF THE CONCERNED OFFICIALS.
YOU HAVE STATED THERE IS WELL SET DISPUTE MANAGEMENT AND CAN BE RESOLVED ISSUES EASILY .
Mahesh-Yes, it is well settled and process implemented. Using the UMRN number, you can direct be in touch with Bank (if they know what it is).
NACH is being rejected specially by nationalized banks because of Signature Mistakes.
Cheque Clearance is Ok but NACH is rejected by the same Bank.
Something Strange.
Yogesh-There are huge rejections and its going to be multiplying as the day passing. Let us wait how they resolve it.
Hi,
Please help me as to when Settlement file runs on which all days and which all days it is closed.
i am making an application in which settlement needs to be done through NACH and RTGS calendar to be followed so wanted to to know what all day Settlement process runs and what all days it does not.
Saksham-As of now, there is no such information.
Dear Basavaraj
On 7th you asked me as to why I need the NACH form and immediately I replied that I need it for payment of BSNL bills. But till date there is no news from you. Since it is mandatory from 01.05.2016, I am unable to trace the link in Google. There are many links pertaining to Mutual Funds by various respective AMCs.
Please help me out as my banker says that you have to bring a hard copy of NACH to proceed further. Trust you will do the needful.
Thanks
RK Bhuwalka
Bhuwalka-Sorry for missing that. Your requirement is paying of BSNL Bill from your bank account right? If so then your bank will provide that. Check with bank.
Thanks a lot Basavraj…..for your valuable info In the above NACH form all the details are manadatory or only mobile number, & sign is enough
Vijay-The mandatory fields are explained in above video. You have to fill all such fields.
Dear Basavaraj
In this article, you have not give link to download NACH application form nor I am able to trace it. Please let me have the link.
Thanks
R K Bhuwalka
Bhuwalka-For what purpose you need this NACH form?
I need it to submit to BSNL for monthly payments of telephone bills. Please send the form or the like as per your convenience.
Thanks.
RK Bhuwalka
Hey, we are currently running a well funded Fin tech start up. There are a couple of questions i’d like to ask. Could you please call me on the number 7338297365.
Akshay-You can raise your doubts either here or in the Blog Forum.
I applied for loan but bank did not disbursed the payment. But they registered the NACH with my bank and I got sms as below:
Dear Customer,Your NACH mandate for INDUSIND BANK CFD has been setup under the Mandate no.××××××× on 3rd Feb 2020…
What does it means? If I did not got loan money how can they set up? Can I cancel this with the help of my bank?
Dear Vivek,
Better to request for cancellation of NACH immediately.
Highest number of rejections in NACH are due to signature mismatch. It is not really efficient.
With UPI coming in . mandate management should become easy and replace inefficient paper based mandate systems
Venkat-Let us wait.
I took a loan from shubh loans INR 25000 for 12 months after 7 months I got a top up for 1L.20K.
After deducting 5 months EMI they credited 1L Rs to my account . I have signed a foreclosure form.
Now they are deducting both the EMI from both the loan amounts for 25000 and 1.20L.
Kindly suggest plz as shubh loans team is not responding to Phone call and to emails.
Dear Yogesh,
Approach the bank and request for cancellation.
Hi Basavaraj,
Enrollment for NACH has be done by filling up the physical form or can be done electronically as well?
Very lucid article, Basavaraj but I do have a couple of queries to ask:
1) What happens to the existing ECS Mandates? Effective 1/5/16, will banks refuse to honor the debit ECS transactions, be it for utility bill payments or Loan EMIs?
2) Will there be any written intimation given by the banks to their customers who have executed Debit ECS mandates of the proposed change in process? Ideally they should.
3) Which are the banks which are presently LIVE on NACH and at what intervals is the list updated for incremental banks coming into the fold? Where would this data be available?
Regards.
Manoj-1) They will continue as usual. But fresh registration will be stopped.
2) As I said, existing ECS will continue as usual. Fresh ECS will not be accepted.
3) I think around 900+ major banks and co-operative banks already LIVE. So you no need to worry.
Thanks for the informative article.
Do we need to convert the existing ECS to NACH or will it be done befault.
Sushila-You have convert. It will not be converted by default.
very pertinent and relevant information kindly disseminNate to all collegEs and schools and b schools aS WELL
Roy-Pleasure 🙂
So for Mobile and Internet Bill will payment will be mandatory through NACH ? I know Telecom and Internet provider charge more when you are on roaming also we have seen Electric bill is false, if they deduct money whatever they claim it will be huge issue for us.
Abhi-From 1st May, 2016 ECS will go off and NACH be in picture. If you not comfortable with their charges, then better to pay it than opting for NACh (which will be automatic payment).
Thanks Sir for prompt response. If I can talk about my exp , one should never Opt ECS/NACH for utility bills, For home loan ,personal loan it is okay wherever fix amount is .
Abhi-It depends on many things and each technology have it’s own positive and negative points.
Hi sir, this is hemanth.
Today i have registered amazon pay later and bought some electronic item which is around 8000/- and I got this message below message …Can you please let me know what is this message and why it is 15000/-
——–
NACH mandate registered on acc XXXXXX15XX on 25-AUG-2020 for payment of Rs. 15000 towards ICICI BANK LTD under Ref. No CITI702XXXXXXXXXXX
Dear Hemanth,
As per me, Amazon buying in no way related to this mandate. Contact the branch for further details.
Thanks Basavaraj first of all ,u have shared with us such info which till not being shared by anyone else !
Shivani-Pleasure to see your comment too 🙂
I want to cancel NACH MANDATE (BSE LIMITED)in paytm through groww of 3 sip .Iwant to cancel it .Whome should i contact
Dear Chandan,
Refer my latest post “How to cancel or stop ECS NACH mandate?“.