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Home / Finance / Banking / What is eCMS account ?
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What is eCMS account ?

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0 2022-10-20T19:38:23+00:00

Hey,

Many organisations get a corporate account for their business use. It helps them keep a track of finances and ensure all transactions are conducted by the same account. A friend of mine has an eCMS account. I will share with you the eCMS full form in the paragraphs given below. 

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What is eCMS virtual account?

It is an online payment service that is offered to large corporates that have a fixed set of customers. Dealers, investors and policyholders are common customers. The account is specially tailored for institutions/ corporations.

How does it work?

To use the account, organisations will need to register with the bank. Financial institutions or banks assigned a unique prefix to each corporate account. Each eCMS account holder will get a virtual account number for their use. that is Corporate prefix + Dealer Code, or Corporate prefix + Policy Number. Keep reading what is eCMS account.

Funds can be transferred when a virtual account is added as a beneficiary. Since I use HDFC, I will share with you the steps to add eCMS as a virtual account beneficiary.

  • Open the HDFC NetBanking website or application

  • Enter your Customer/User ID and click Continue

  • Enter password IPIN, Verify Secure Access ID, and Click Login

  • Select the Fund Transfer button.

  • Click ‘Request’ from Sidebar, 

  • Then, Choose to Add a Beneficiary from drop-down

  • Click Go on Transfer to eCMS Account(Virtual Account)

  • Fill in details like Add Beneficiary Account Number, Add Beneficiary Name, Emails ID

  • Lastly, click on ‘Add’.

If you have any more questions about the eCMS full form, leave them in the comment section below.

Read more :

What is corporate subscriber in NPS?

What Is Corporate ID In PNB?   

What is corporate tax in India?    

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