Annual Conference for ACH Service Kicks off Today in Cairo

Egyptian Banks Co. For Technological Advancement (EBC) will be holding its first annual conference for Automated Clearing House (ACH) today with the participation of a numbers of the banks’ electronic services officials.

EBC will provide Automated Clearing House which represented in COR-PAY for paying the companies’ debts and ACH-CREDIT for the individuals’ debts.

The numbers of banks which apply transmitter and receiver services through ACH reached 9 banks, in addition 4 banks apply only receivers services along with 6 banks are currently in testing for applying fresh services, Mohamed Kamel Bayoumi Managing Director of EBC said.

Bayoumi further explained that 20 banks in the banking sector have not yet reached for a decision regarding applying ACH service till now.