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Cheque Box facility to send money to India
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Remitting money to India has always remained a tedious process. It took a long time for the money to reach the beneficiaries. But things have changed now.
HDFC Bank provides you access to a unique remittance facility via a cheque payable anywhere in the US and Europe - the Cheque Box.
Cheque Box is a low-cost remitting facility that provides for fast, safe and efficient transfer of funds to any HDFC Bank customer or for booking of a fixed deposit, through a central cheque collection system based in the US and Europe.
All you need to do is fill in a deposit slip specifically designed for the Cheque Box, which can be downloaded below, then attach a cheque payable in the US or Europe and mail the deposit slip to the following local mail box depending on the currency you have chosen. (cheque should be in favour of HDFC Bank)
The address for USD and Euro Cheque Box are as under:
For US$
HDFC Bank Ltd
P O Box 8500-53383
Philadelphia, PA 19178-3383
For Euro
ABN Amro Bank Germany
C/O HDFC Bank,
OPS-GTS cheques LBx
P.O.Box 10 01 38
60001 Frankfurt
Germany.
Our Correspondent Bank in the US and Europe will collect the money on a daily basis. The cheque will be sent for local clearing on the following working day, and HDFC Bank upon getting the credit advice shall credit the beneficiary's account held with us as per the instructions on the Deposit Slip.
Clearing Timings for cheques payable in US Dollars : 6 International working days for cheque payable in NewYork and 16 international working days for Non-NewYork from the date of lodgement at clearing house.
Clearing Timings for cheques payable in Euro : 8 International working days for cheque payable in Germany and 18 international working days for Non-Germany from the date of lodgement at clearing house.
How do I get the deposit slips?
Advantages:
- Direct Credit to beneficiary Account/Fixed Deposit
- Saves the cost and time of mailing cheque to India
- Lower cost as compared to a Swift Remittance
- Efficient Mechanism to transfer funds to India
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