Foreign Currency Cheque Collection
Foreign Currency Cheque Collection
You can directly deposit your foreign currency cheques, foreign currency demand draft in to your saving or current account. We will have the cheques sent for collection and the funds will be credited to your account in Indian Rupees
Features and Benefits:
Choice of Multiple Currency:We have an arrangement to collect Cheque in 14 foreign currencies which are payable in your respective locations, namely USD, GBP, EUR, CAD, SGD, NZD, HKD, CHF, SEK, NOK, AED ,SAR, ZAR, DKK, JPY, MYR, OMR, THB, LKR
Click hereto find out Turn Around Time for FCY cheque collection
Note:
- The Card Rate prevailing on the date of credit to customer account would be the applicable exchange rate
- In addition to the above mentioned period, date of credit to customer account would include transit time to correspondent bank
- Cheques drawn in one currency payable in another country where currency is different will take a longer period to realize and would attract charges of various correspondent banks as per their own tariff schedule over which we do not have any control. For e.g. A cheque drawn in USD payable on a bank in Singapore or Cheque drawn in GBP payable on a bank in South Africa or Cheque drawn in USD payable in Canada.
Click Here for Guidelines to enable faster processing
Click Here for the List of Our Correspondent Banks
Return of Foreign Currency Cheque/Instrument:
Foreign currency cheque/instrument sent for collection to the Payee bank through Correspondent Bank located outside India can be returned by the Payee bank even after crediting the proceeds to depositor's account after cooling period, for whatsoever reason including but not limited to "insufficient funds", "account closed", fraudulent cheque" etc as per prevailing clearing rules / laws related to cheque collection in drawee countries.
In case of such cheque returns, the Payee bank recovers the amount of returned cheque, thus credited earlier, by debiting the HDFC Bank's Nostro account. HDFC Bank has the right to debit the depositor's account to the extent of returned cheque amount immediately (at the prevailing exchange rate) along with charges and interest from the date of credit of proceeds till the date on which amount is recovered from the depositor.
