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CODAM S.A. also accepts this form of electronic payment.

What is an ECHEQ?

An ECHEQ is a form of online payment where money is electronically withdrawn from the payer’s account and deposited into the payee’s checking account. ECHEQ processing is somewhat similar to paper check processing, but faster.

The crediting terms are the same as for paper checks (48 hours when clearing between banks is required). It should be noted that ECHEQs, as is the case with traditional checks, continue to pay the tax on bank credits and debits.

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