USD cheque to Indian bank!

is it possible to deposit a USD check with indian bank (like ICICI) and cash them. I am getting a small amount and its first time for me. Please anybody guide me what should i do when i enter icici bank.

any advice/help much appreciated!

 

Yes you can deposit your USD check in your ICIC (for example) Bank account. They will cut around RS 100 (differs bank to bank) as collection charge of cheque. It will take around 7-10 business days to get your check amount in your bank account deposited.

 

Yes u can deposit in any Indian bank,it takes 20-30 days to clear USD cheque.

 

Well, me too getting a USD check first time this month. So, this query helped me too , I hope the banks wont take more than a month to clear the cheque.

 

do i need to fill up any special form or like that with ICICI or i just deposit the check in the cheque box. i am little afraid that check would be lost

 

No special form,just deposit like your normal cheque.

 

We are living in a connected world now and international finance is commonplace and clearing foreign checks is not a big issue.

There are two kinds of US$ checks. One which is drawn on a US Bank in the US and one which is drawn in the country where you are located. The first type of check would need to be sent back to the US to get cleared and should take about 4 working weeks to clear. The second type would be cleared in a bank in your country and should clear in the normal time frame to clear normal checks.

Since foreign checks would not show up in your bank statement until it is cleared, it might be a better idea to deposit the check by queuing up at the counter so you can a copy of the deposit slip for verification. Here in Singapore if I deposit the check in the quick check deposit box, the bank will send me a letter to state that they receive my check and would send it for clearing in the US.

 

Oh dude,50% ? that is too high,i am depositing my affiliate checks every month and i can confirm that they only deduct 75-200 INR.Ya its around 20-30 days to clear as i said before.

 

I would think the charges would vary from bank to bank. If the US bank is the same bank as the one you deposit the check in or if it is an affiliate banks, the fees would be much lower.

I am not sure about India but here in Singapore, fees for clearing US checks is usually a variable sum which is typically include local fees of between S$10 to S$50 + $5 (postage) + US$15 to US$20. The bank should advise you on the fees before you deposit the check and if they don't ask them about it. I remember there was once when I tried depositing a check, the bank officer told me that it would not be worth clearing that check since the fees are higher than the dollar amount on the check and I would need to pay extra fees and get nothing back.

If you have not receive the check as yet, make sure that you accumulate as high an amount as possible so that you would get something back after the check clearance. And if possible, opt for some other payment means where the fees would be lower and that you get the money much faster.

 

Time taken to clear will be around 20-30 days as said above. Charges depends from bank to bank some bank charges around Rs.200. In my case I provided a photocopy of check signed by me.

 

i also deposit a USD check in my bank,and i am in Pakistan, but now 23 days gone, and i did not get my money in my account, but in last month its clear in 15 days but now it take too long, don't know why:|

 

It happens sometime usually it took around 17 days for me to clear the check...