How To Deposit A Check Of Foreign Currency In Inr ?

Discussion in 'Payment Processing' started by Arbaz987, Feb 8, 2013.

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  1. #1
    Hi guys,
    I got a check from Escrow.com yesterday which is in USD dollars. I am a complete newbie so can anyone here guide me on how can i deposit the check in my bank account.

    I have a Savings account in HDFC bank. Can anybody help me with the procedure involved?

    Thanks.
     
    Arbaz987, Feb 8, 2013 IP
  2. natj

    natj Well-Known Member

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    #2
    Deposit it at the bank counter (NOT the drop box) along with the pay-in slip filled out as usual -- check details, USD amount, etc.

    You will also need to submit a declaration form (the bank will have a copy) to declare the source of funds and your own details. It's an RBI-required mandate without which the bank won't accept the check.

    Once done, your check should clear in about 30-40 days.
     
    natj, Feb 8, 2013 IP
  3. Arbaz987

    Arbaz987 Peon

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    #3
    The check will take 30-40 days to clear !!!!
    And how much will be the fees deducted ?
     
    Arbaz987, Feb 8, 2013 IP
  4. contentexpress

    contentexpress Member

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    #4
    250 to 400 INR. more depend on the collocation. IMO

    Regards
     
    contentexpress, Feb 8, 2013 IP
  5. Pitu

    Pitu Active Member

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    #5
    ICICI take 360/INR from me last month .
     
    Pitu, Feb 24, 2013 IP