Electronic Cheque Clearing System (ECS) emerges as a result of the continued effort of the Bank of Thailand to develop the country's cheque clearing system. The ECS has been in operation since July
16,
1996. This is operated by the electronic cheque clearing House (ECH) of the Bank of Thailand. The ECS has been developed and used in Bangkok and metropolitan areas. Members of the ECH will connect online with the ECS located at the Bank of Thailand's Electronic Clearing House (ECH). The cheque data will be sent online to the ECS by the headquarter of the sending bank and the physical cheques will be sent to ECH by
7.00 p.m. in the same day for sorting and cross-checking with the cheque data received earlier. With the ECS, working hours for cheque depositing is now longer so customers can deposit cheques at any banks in Bangkok and metropolitan area for same day value at any time from
8.30 a.m. to
2.30 p.m.
For faster and more efficient provincial cheque clearing system together with a more flexible cash management for member banks including reduction costs and settlement risks, the BOT has improve the provincial cheque clearing process in order to reduce cheque collection period by
expanding the clearing centers’area of coverage to all districts within the province and its nearby. In addition, computer system has been utilized to increase its efficiency while settlement is being done at the BOT’s headquarter by ECH instead of BOT’s representative at the provincial treasury.
Improvement of the inter-provincial cheque collection system (B/C) in order to reduce the cheque collection period by sending the cheque to the headquarter for exchange at Electronic Clearing House in Bangkok.
ECH will calculate the net position of each member bank while settlement will be done through BAHTNET.