Question: Can I deposit a foreign currency cheque in India?

Customers can deposit foreign currency denominated cheque/DD issued by overseas bank to any Axis Bank branch in India to credit the beneficiary account by the equivalent amount. … In this scheme, the FCY cheque/other instruments are directly sent to drawee Bank without any intermediary for collection.

How do I deposit a foreign currency cheque?

If you are a beneficiary of a foreign currency cheque, you must deposit it in your account; your bank’s foreign currency cheque collection service will process it (by sending it to the bank of origin for realisation) and credit the Indian rupee amount to your account.

How can I cash a foreign cheque in India?

How to Encash a US Dollar or a Foreign Currency Cheque?

  1. Cash Letter Arrangement (CLA) Cheques presented by customers are sent by the presenting banks in India to their correspondent banks (CBs) in USA for domestic clearing. …
  2. Direct Collection Arrangement (DCA) …
  3. Final Credit Services (FCS) …
  4. Check-21Facility.

Where can I deposit a foreign cheque?

According to Barclays bank, if you want to cash a foreign cheque, you’ll need a local account. If you have an account in the UK, you are one step closer to getting your cheque cashed. But the cash won’t be immediately available. Instead, at a local bank branch, you will deposit the foreign cheque into your account.

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Do banks accept foreign checks?

U.S. banks will accept an international check. Banks will present the check for payment on the foreign bank and will not deposit the funds until the foreign bank has payed the U.S. bank. … The U.S. bank may also have a limit on the amount of the check and may charge a fee.

Can I deposit foreign currency in my bank in India?

You can open a Resident Foreign Currency (Domestic) Account with a bank in India and deposit foreign exchange earnings repatriated to India through banking channel.

Can I deposit International cheque in any bank?

Can I deposit a check from a foreign bank or issued in foreign currency? Yes, you can.

Does SBI accept foreign cheques?

For Foreign Currency Cheque return, SBI charges Rs 500. It will also have the add-on amount to be paid for postage, courier, SWIFT charges and Foreign bank Charges are levied in accordance to respective currencies.

How long is a foreign cheque valid for?

In most cases, you will be able to withdraw the money after 20 calendar days. However, in some cases it may take longer to clear the cheque.

Does nationwide accept foreign cheques?

Nationwide will no longer accept any foreign cheques. Most banks will for a fee of around 0.25%. … It necessitates a foreign cheque being sent by post or courier by the beneficiary’s bank to the payer’s bank overseas – where the decision to pay or not to pay is made.”

Does HSBC accept foreign cheques?

We may, at our discretion, credit a foreign cheque to your account without waiting for it to be paid.

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What can I do with a foreign check?

Sign and endorse the foreign check. When depositing the foreign check, write the check number on the back of the deposit slip. The bank will cash the check at the current exchange rate. A processing fee may also be applied at this time depending on bank policy and the value of the foreign check.

Can I deposit a foreign check into my Chase account?

Can I process foreign currency checks through Chase QuickDeposit? No. Chase QuickDeposit is only for checks payable in U.S. Dollars and drawn on banks in the United States.