Electronic Cheques Clearing Unit (ECCU)

 

In 2007, the Electronic Cheque Clearing Unit was launched, significantly improving upon the existing cheque clearing services to allow cheques to be collected on the same day at the bank level. In 2023, the ECCU was upgraded, unlocking more features to banks and increasing its operational efficiency. The ECCU operations are governed by the Central Bank of Jordan Law, the Electronic Transaction Law, and the rules, instructions, and regulations governing the work of Electronic Clearing in Jordan. 

Benefits

banks

For Banks

The Electronic Cheques Clearing Unit (ECCU) is revolutionizing the way cheques are processed. Its fully electronic solution is equipped with advanced communication capacity, allowing for the accurate transmission of information and reducing processing time.

The Electronic Cheque Clearing Unit is the perfect solution for banks to decrease transportation and manpower costs, while eliminating cheque loss and fraud risks. This system works during working hours and allows for cheques to be sent at any time, no matter the volume. Furthermore, the ECCU verifies the financial position of the issuing bank, ensuring the safe and efficient transfer of funds. Plus, its archiving and reporting capabilities have been improved, making it easier to monitor and improve data analyses.
customers

For Customers

Financial customers can now enjoy the convenience of same-day cheque deposits! Thanks to its accelerated processing time, cheque amounts can be credited to the beneficiary’s account on the same day, depending on the depositing time. Moreover, customers can be informed of the cheque's acceptance or rejection right away. These services have been a game-changer for cheque payments in Jordan, leading to higher customer satisfaction, more confidence in cheques, and an increase in cheque usage and acceptance in the past decade.

ECCU in Numbers

0
688.00
K
Number of Cheques
0
3.77
B
Value of Cheques (JOD)
0
22.80
K
Number of Returned Cheques

Last updated: 1/11/2023