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. Final Credit Scheme (FCS)- Available only for USD currency.
Can I deposit a USD check in India?
Every Indian bank can accept and clear a USD currency check. … So they can revert to you with an answer that you can’t deposit other currency checks in your savings account. If any bank’s any branch gives you such a response, visit the main branch in your city to deposit the foreign currency check.
How can a foreign cheque be cleared in India?
Cash Letter Arrangement (CLA): In this process Indian banks send the cheque to their foreign correspondent banks in the respective country. When the amount is credited by correspondent bank, it is credited to the account of the presenting bank in that country which is known as NOSTRO accounts.
Can I deposit International cheque in any bank?
U.S. banks will accept an international check. However, most have the same policy. 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.
How long does a US dollar cheque take to clear?
I was advised that dollar cheques can take four to six weeks to clear, as for some reason they have to go back to the issuing bank.
Can I deposit a foreign currency cheque?
But you can deposit a foreign currency cheque in an account you hold with an Indian bank and get it converted to rupees. … Banks charge processing fees for the foreign currency cheque collection service, and the fees are subtracted from the final amount deposited into the beneficiary’s account.
Does US bank accept international checks?
Yes, we accept checks drawn on a foreign bank or issued in foreign currency. Simply take it to your local U.S. Bank branch to be deposited.
Can you deposit a US cheque online?
With Mobile Deposit, there’s no need to go to the branch or ABM. Instead, you use your smartphone or tablet to take a picture of your cheque and deposit it into your chequing or savings account.
Can I deposit a US check into a Canadian bank account?
Some Canadian banks will accept checks in U.S. dollars through in-person deposit with a teller or an automated teller machine, or ATM. Or your institution may require that you speak with a representative to cash a U.S. dollar check while in Canada.
How long does an international check take to clear?
In most cases, you can expect funds from a check to be available within two business days. Circumstances such as international transfers, available funds, poor standing with the bank, and the amount of funds being transferred can affect the clearance time.
How do I deposit a foreign currency cheque?
If your bank does accept foreign cheques, you’ll usually need to pop into a branch to pay it into your account, or send it to your bank in the post. Cheques have to go through a clearing process, where the amount written on the cheque is transferred between the sender and receiver’s accounts to settle the payment.
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.
How can I deposit my US Treasury check in India?
Please submit your cheques along with a signed Indemnity Letter cum deposit slip to the nearest branch. Please ensure that instruments are deposited at ICICI Branch in India with proper acknowledgment in the specified deposit slip only. Do not deposit instruments in drop boxes.