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Foreign Currency Cheque

Foreign Currency Cheque

The foreign currency cheque or draft sent to your YES BANK account in India now gets credited faster than before!

Foreign Currency Cheque

Send / Deposit a foreign currency cheque or draft for credit to your YES BANK account in India at any YES BANK branch.

YES BANK will send the cheque overseas for clearing and credit your account.

1) Cheques sent for collection under the secured collection method which entails a faster turnaround time; will be immediately credited in your account on sighting the funds in our Nostro account

The above will be applicable for;

  • For USD, Cheques greater than USD 50 but less than USD 350,000

  • For GBP, Cheques where the amount is equivalent or greater than GBP 250

  • For all other currencies like EUR/AUD/CAD/SGD, irrespective of the amount

For the above cheques immediate credit in your account on sighting the funds in our Nostro account.

2) Cheques sent for collection under cash letter facility shall be credited as follows

  • USD cheques for New York Clearing - 6 international working days after sighting the funds in our Nostro account

  • USD cheques not payable under New York Clearing - 21 international working days after sighting the funds in our Nostro account

  • For GBP, Cheques where the amount is below GBP 250- 10 international working days after sighting the funds in our Nostro account

Note:

  • USD denominated cheques can be sent under the Cash Letter facility if specifically requested by the customer.

  • For all other currencies (except USD) and cheque below GBP 250 all cheques shall be send for collection under secured collection.

  • Service charges as defined in the applicable Schedule of charges as amended from time to time would be levied. The conversion rate applicable would be the applicable card rate/rate provided by treasury as on the date of credit to the customer account.

 

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