Best answer: Can I deposit USD in Indian bank?

Every Indian bank can accept and clear a USD currency check. However, some branch personnel is not aware of the process. So they can revert to you with an answer that you can’t deposit other currency checks in your savings account.

Can I deposit US dollars in Indian bank?

Yes, one can deposit check any currency cheque in his or her bank account. … Once cleared by the source bank the amount will be converted to Indian rupees. The forex rates are pre-set by the banks for conversion. Finally, after the conversion, the INR amount will be credited to your bank account.

How do I deposit foreign currency into my bank account?

How to Deposit Foreign Currency Into a Bank Account

  1. Find a place to convert your foreign currency to U.S. dollars. …
  2. Sell your foreign currency to the buyer of your choice. …
  3. Deposit your dollars to the bank account of your choice.

Do banks accept foreign currency?

Best Place to Exchange Currency Before and After Traveling

Credit unions and banks will exchange your dollars into a foreign currency before and after your trip when you have a checking or savings account with them. … It’s a good idea to call your local bank first to see whether they have the currency you are seeking.

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How do I deposit money into my dollar account?

To deposit money in your FCNR Fixed Deposit, you can:

  1. Transfer funds from abroad in a freely convertible foreign currency.
  2. Present foreign currency notes/travellers cheques brought in by you or Joint NRI account holder during a visit to India.
  3. Directly remit the amount to us through wire transfer/telegraphic transfer.

What banks will convert currency?

Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, offer the added benefit of having ATMs overseas. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

Can I deposit foreign currency at an ATM?

If the machine will let you withdraw US dollars, yes. Otherwise no. You can always get some deposit slips (they’re in your chequebooks, if you have cheques) and put a deposit slip and the money in an envelope, and deposit them either with a teller (free) or in the night deposit slot (if they’re closed).

Where can I exchange currency for free?

Your bank or credit union is almost always the best place to exchange currency.

  • Before your trip, exchange money at your bank or credit union.
  • Once you’re abroad, use your financial institution’s ATMs, if possible.
  • After you’re home, see if your bank or credit union will buy back the foreign currency.

Does Walmart do currency exchange?

Does Walmart Accept Foreign Currency? Generally, Walmart does not accept foreign currency, however, you can pay for your purchases at Walmart using a credit card issued from a bank outside of the U.S.

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What can I do with leftover foreign currency?

Here’s What You Can Do with Leftover Foreign Currency

  1. Using it to Pay Part of Your Hotel Bill on Vacation. …
  2. Shopping Duty Free. …
  3. Donating to Charity. …
  4. Exchanging It. …
  5. Saving it For Another Time. …
  6. Exchanging it for Bitcoin (or Another Cryptocurrency) …
  7. Regift Leftover Coins as a Quirky Souvenir. …
  8. Using SoFi Money®

Do Indian banks accept foreign currency?

Exchange foreign currency in Indian banks

With the foreign currency in hand visit your bank where you hold an account. For example, if you are an SBI bank account holder, you can exchange foreign currency in SBI.

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