Wow congrats for the cheque! Dont exactly know even i will be depositing my first cheque 2moro. Lets hope for the best. By the way laxmi did you ask the bank how much is the transaction charges. If its less in HDFC then ill deposit in HDFC or else ICICI.
Why not just ask at your bank when your deposit it? I'd be interested to know what the transaction fee is (from USD to INR). In Australia, my bank charges me $10 AUD to bank any cheque made out in USD.
Ing Visa Clears On The Same Day Of Any Cheque Which Is Above 95k. I Think This Is Because I Have A Good Rapoo With My Local Banker Or Something And About Charges In India Are Not That High As 10aus $ It Is Bit Cheap
All the banks has to go through same RBI channel. But the processing days varies between banks based on how fast they process the check. usually it takes more time when you deposit first time. I would deposit in citi bank if i were you. But best palce to get an answer is the bank.
I get my check cashed in 1-4 days by a process called "discounting". Here the banker will pay the customer the check amount up front in cash and have the check transfered to their name. The banker gets some commission in between, i.e, he will charge some percentage of the check amount plus the usual charges such as currency conversion, check collection charges etc. I am charged around 250 INR for a 15000 INR check.
Hi Laxmi, My congrats to you on getting your cheque form Cj. I am also a Cj member. But didn't make any gains. If you can kindly PM me the ways to make some bucks from Cj.