ECS Rejected by Bajaj Finserv? Here’s How You Can Solve This Problem

ECS Means

Electronic Clearance Service (ECS) is an electronic way of moving funds from one bank account to another. It is used by financial institutions to make payments such as salary, pensions, dividend interest, and loan EMI deductions.

You must first let your bank know that you want to use an ECS mandate. Your bank account and branch information can be found in the ECS mandate, among other things. The maximum amount that can be deducted from an ECS user’s account might be limited. You must submit a signed ECS mandate, basic KYC information, and a voided check when making an easy EMI purchase on the Bajaj Finserv EMI Network.

Steps to download digital Insta EMI Card

If you are already a customer of Bajaj Finserv, you can do the following to get the digital Insta EMI Card:

  • Step 1: Access the App Store or Google Play Store and download the Bajaj Finserv application.
  • Step 2: Enter your registered mobile number to log in.
  • Step 3: Enter the OTP you were sent on your mobile device.
  • Step 4: Click “Know More” to acquire your Insta EMI Card in digital form. 

With this Card, you may instantly shop for more than 1 million+ products in 3000 cities.

Why was my ECS Rejected by Bajaj Finserv?

  • If you have supplied a failed ECS mandate a predetermined number of times, banks have the right to cancel your account.
  • In reality, banks would combine the failed ECS mandate with the bounced cheques and determine the proper course of action 
  • In India, writing cheques and then returning them due to inadequate cash is a criminal offense.
  • Sometimes ECS mandate is also get rejected due to a mismatched signature.
  • After three occasions of a failed mandate, the bank would in this scenario withdraw the ECS mandate facility. The bank will then go ahead and rescind the mandate. 

It is crucial to keep in mind and write down all of the ECS mandates that have been provided. Some of these, like paying utility bills, are highly critical obligations that must be followed. Be cautious and make sure you have enough money in your bank. In order to avoid forgetting, it is advised to preserve a record of all such mandates that have been given to the bank. The law has recently been much stricter for repeat offenders.

Read Also: What Advantages & Disadvantages come with having an Insta EMI Card?

Here’s how you can solve this problem

Follow the below-mentioned steps to solve the issue.

  1. Visit the Bajaj Finserv Customer Portal.
  2. Click that while you are on the “Quickpay” tab.
  3. Select “Change/Swap Bank Account” by moving downward.
  4. Switch to the appropriate bank account and wait 45 days for the ECS update
  5. to the area for online payments
  6. If any amount is owed on an overdue payment or an EMI, you should pay it off before the 25th of the month it is due.
  7. Visit EMI Advance.
  8. Select your appropriate debit or credit card and proceed with the transaction.

Insta EMI Card Application Process

Through online resources like the Bajaj Finserv website or app, you can apply for the Insta EMI Card. The entire process is digital, and the approval takes about 30 seconds. Another option is to apply for the Insta EMI Card at one of the 1.2 lakh+ partner outlets spread throughout 3,000 Indian cities. 

Insta EMI Card application Process for New Users

  • Step 1: Go to the ‘Apply Now’ link on the EMI Network Card page.
  • Step 2: Select your occupation, input your registered mobile number, birth date, and name as it appears on your PAN Card.
  • Step 3: Click on “Check Your Offer” and Type in the OTP sent to the registered mobile phone.
  • Step 4: Once verified, input your gender, full name, PAN, email, and area PIN code on the screen.
  • Step 5: Click “Proceed” And Pay ₹530 (inclusive of taxes) to activate your EMI Card.
  • Step 6: For the e-mandate process to be completed, provide your bank information and OTP.
  • Step 7: To use your Card and receive special Insta EMI Card offers and advantages, click on the “Submit” button.

 Insta EMI Card application Process for Existing Users

  • Step 1: Visit the Bajaj Finserv website and log in.
  • Step 2: To determine your eligibility, select your occupation, input your registered mobile number, your date of birth, and your name as it appears on your PAN Card.
  • Step 3: To check your pre-approved offer click on “Check Your Offer.”
  • Step 4: To begin the application procedure, simply click the provided link.
  • Step 5: Pay the annual charge of 117 (taxes included).
  • Step 6: Once you’ve made a payment, a confirmation will be sent to the registered email or mobile number.

An electronic version of the conventional Insta EMI Card is the Digital Insta EMI Card. You can use the pre-approved loan, which has a maximum amount of Rs. 2 lakh, to buy almost anything, including LED TVs, household appliances, groceries, and gym memberships. By following a few easy steps, you can get the Digital Insta EMI Card.