ECC - Electronic Cheques Clearing System

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ECC - Electronic Cheques Clearing System 

 

Electronic clearing is the process of exchanging information, which includes data, images, and codes of cheques by electronic means through Electronic Clearing Center at the Central Bank of Jordan and determining the net balances resulted from this process at a specific time.

The Central Bank of Jordan provides the service of cheques clearing for licensed banks in accordance with the Central Bank of Jordan Law No. 23 of 1917 and its amendments in paragraph (B) of Article (37).

The Central Bank started providing manual cheque clearing services up to July 1997 then moved to automated clearing up to July 2007. Afterward, this service moved further into the great shift of providing electronic clearing and the implementation of collecting cheques on the same day at the banks level started as of 4th of November 2007 based on the time of the cheque deposit.


Benefits of implementing Electronic Cheques Clearing System:

For Banks

For Customers


Legal cover for the system’s operations:

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