• Latest
Easier Cheque Processing with ECACH

Easier Cheque Processing with ECACH

7 years ago
Joint approach to fighting gender-based violence

Joint approach to fighting gender-based violence

6 hours ago
CHORES Returns to Grenada in October

CHORES Group returns to Grenada

6 hours ago
International Day for Biological Diversity 22 May

International Day for Biological Diversity 22 May

1 day ago
Claims of coronavirus at SGU designed to create fear and panic

Covid-19 update: Grenada Dashboard 20 May 2022

1 day ago
Cambridge GCE Registration Period

Commonwealth of Learning Skills for Work Programme

3 days ago
St Mark Women in Action graduate from UNDP WOW Programme

St Mark Women in Action graduate from UNDP WOW Programme

3 days ago
Calypso Workshop for Students

Division of culture completes 3-day calypso arts workshop for schools

3 days ago
China donates to RGPF to help protect officers from Covid-19

China donates to RGPF to help protect officers from Covid-19

3 days ago
World Metrology Day 20 May

World Metrology Day 20 May

3 days ago
Claims of coronavirus at SGU designed to create fear and panic

Covid-19 update: Grenada Dashboard 19 May 2022

3 days ago
Digital Tourism Opportunities

PM launches Grenada’s National Cyber Security Incident Response Team

4 days ago
Kingdom of Morocco Scholarship announcement

Kingdom of Morocco Scholarship announcement

4 days ago
NOW Grenada

Main Header Ad 468x60

  • 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

Article Header

Easier Cheque Processing with ECACH

This story was posted 7 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.

Home Sidebar NP 300x250

© 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 settings. 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.