• Latest
Easier Cheque Processing with ECACH

Easier Cheque Processing with ECACH

9 years ago

Nawasa: EOI – Geotechnical investigations, Testing, Reporting and Design

4 mins ago
Grenadian Dentist to be inducted into Pierre Fauchard Academy

Grenadian Dentist to be inducted into Pierre Fauchard Academy

8 hours ago
Artwork commemorates forgotten figure in UK Black history

Artwork commemorates forgotten figure in UK Black history

1 day ago
Prime Minister Hon. Dickon Mitchell out of state 

Prime Minister Hon. Dickon Mitchell out of state 

1 day ago
Ensure safety of children this carnival season

Child Month 2023

3 days ago
Grenlec Community Partnership Initiative Call for Project Proposals

Grenlec Community Partnership Initiative Call for Project Proposals

3 days ago
New National Party 2020 Christmas Message

Soaring fuel prices: A testament to governmental disconnect

3 days ago
25 students benefit from Republic Bank Scholarship and Bursary Programme

25 students benefit from Republic Bank Scholarship and Bursary Programme

4 days ago
World Maritime Day 2023

World Maritime Day 2023

4 days ago
GCCU Ltd Vacancy: Member Service Representative

Grenville Cooperative Credit Union Vacancy: Systems Administrator

4 days ago
Edinburgh Napier University to visit Grenada

Edinburgh Napier University to visit Grenada on 2 October

4 days ago
PRC Donates To TAMCC

Short-term courses November 2023 in China

4 days ago
NOW Grenada
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
NOW Grenada
No Result
View All Result

Easier Cheque Processing with ECACH

This story was posted 9 years ago
20 January 2015
in General News
2 min. read
Share

The Eastern Caribbean Central Bank (ECCB), in collaboration with commercial banks in the Eastern Caribbean Currency Union (ECCU), has initiated the Eastern Caribbean Automated Clearing House (ECACH), a project that will modernise the cheque clearing and settlement system between banks.

The ECACH will allow for more efficient and secure electronic processing of cheques and settlements between the banks in the ECCU.

The ECACH will be rolled out in Grenada on 22 January 2015 at participating local banks. The ECACH was successfully launched in St Kitts & Nevis on 25 September, and Antigua on 12 November 2014.

The new system will allow for the electronic exchange of the cheque image, which differs from the traditional clearing process which involves a manual exchange of the physical cheque.

The ECACH will offer customers the benefit of having their cheques settled within a shorter timeframe. In addition, cheques drawn on a commercial bank in one participating country but processed at a commercial bank in another participating country will be cleared in the same timeframe as cheques drawn and processed at commercial banks in the same country.

With the new system, customers will have to ensure that sufficient funds are available on their accounts to cover all cheques at the time they are issued.

Countries all around the world have already moved or are moving towards electronic forms of cheque processing. This move by the commercial banks in the ECCU will ensure that the ECCU clearing system keeps pace with global trends.

The table below outlines the roll out dates for the other participating territories.

Country Launch Date
Dominica 4 February 2015
Saint Lucia 18 February 2015
St Vincent 4 March 2015
Anguilla 18 March 2015
Montserrat 18 March 2015

For more information please click here.

NOW Grenada is not responsible for the opinions, statements or media content presented by contributors. In case of abuse, click here to report.
Tags: automatedbankchequecibccurrencyecacheccbeccuelectronicmoderntransaction
Next Post
Permaculture: Overcoming Climate Change

Permaculture: Overcoming Climate Change

Comment on post Cancel reply

Please enter your valid email address.
Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

© NOW Grenada. All Rights Reserved. Published by Aqua Design Inc. | Terms of Use | Privacy Policy

No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us

Copyright NOW Grenada

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in . Visit our Privacy Policy | Terms of Use.

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Visit our Privacy Policy | Terms of Use.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.