I have savings account in India with SBI and HDFC. I want to know the fee of both the banks for depositing the $300, $500 and $1000 checks. If you know the fee then please help. I also want o know where can I see the exchange rate used by both the banks and where they display it online?
well hip... once i got a check of $25 from Adbrite. And i got 716 Rs in my account. It will take 25-30 days to clear.
I need a reply from a person who knows exactly the fee to deposit US$ check in these two accounts. I asked in my local SBI branch the charges to deposit US$ check and they said that US$ check could only be deposited in their head office.
Its better to transfer from paypal then asking for checks... Indian banks usually charge more for check clearence..
Banks collect commissions in the range of Rs.2.50 or Rs.3.50 for Rs.100 or so... This is the best and trustworthy currency converter online I am using, http://in.finance.yahoo.com/currency. Mostly HDFC bank displays on all of their branches.
It will take 24 business days if its cross country check but if its at par (which will be in INR generally so if your check is in USD it wont be at par) then it will take 2-3 business days
Check processing is a kinda farce. time consuming.. need patience and in the mean time.. u lose or gain rates. but. Its a worst thing in these electronic days...