Friday, December 11, 2009

Foreign Exchange and Trade Services

Foreign Currency Travellers Cheques

Travellers Cheques are a safe and easy way to protect your money when you travel. You can encash them only when you need to, and only against your signature, unlike cash which can be stolen and misused by anybody, immediately. Loss of Travellers Cheque can be reported anywhere in the world by making a single phone and the pre-fixed amount on the cheques are made refundable.

Travellers Cheques are offered in major currencies like USD, GBP, Euro, CAD, AUD and JPY. These are available in various denominations to suit your needs. At present HDFC Bank offers American Express Travellers Cheques which are widely accepted at Merchant Establishments and Financial Institutions across more than 200 countries.

Foreign Currency Cash

Foreign Currency Cash is a convenient way of meeting personal expenses along your journey, paying for taxis / internal travel, food expenses etc.

You could avail of Foreign Currency Cash in USD, GBP, EURO, AUD and CAD from our branches offering Foreign Exchange facilities.

Foreign Currency Demand Drafts

You can now avail of our FCY DD facility to make payments for various purposes like:
* Payment of University fees abroad
* Making a gift remittance to a friend or relative
* Payment of application fees for various exams like TOEFL , GMAT etc.
* Payment for medical treatment abroad
* And all other permitted purposes as per the RBI guidelines.
FCY Demand Drafts are issued in seven currencies like United States Dollars (USD), Great Britain Pounds (GBP), EURO, Japanese Yen (JPY), Australian Dollars (AUD), Canadian dollars (CAD) and New Zealand Dollars (NZD).

Foreign Currency Cheque Deposits

You can directly deposit your foreign currency cheques, foreign currency demand draft and Travellers Cheques in to your saving or current account. HDFC Bank will then have the cheques sent for collection and the funds will be credited to your account in Indian Rupees. We accept cheques of various currencies like USD, GBP, Euro, JPY, Australian Dollars, Canadian Dollars, UAE Dirhams, Hong Kong Dollars and Swiss Francs.

Please follow the simple guidelines below to enable faster processing
a. Ensure that your
* Account Number and Name are correct and clear on the payin slip
b. Make sure the Cheque / Draft is countersigned in case of an alteration
* In the payee's name
* In the date
* In the amount
* Or over-writing on the signature
c. Ensure that the amount entered in words and the figures are written correctly.

Please note that Cheques drawn in one currency payable in another country where currency is different will take a longer period to realise and would attract charges of various correspondent banks as per their own tariff schedule over which we do not have any control. For e.g. A cheque drawn in USD payable on a bank in Singapore or Cheque drawn in GBP payable on a bank in South Africa or Cheque drawn in USD payable in Canada.

Cash to Master

Often, foreign ships travel through India and dock their vessels at various ports / harbors in the country. One of the major requirements during such temporary stays, is that of FCY Cash that has to be made available to the Captain of the Ship for covering Crew wages or for other expenses on board the ship.

These requirements are usually met through a facility called "Cash to Master". To collect this cash, the master of the ship has to approach the branch with his passport and a duly filled up application form. This product is available only in United States Dollars, Pounds Sterling and Euro Currencies.

Forexpoint - Non HDFC Bank Account Holders

Now foreign exchange facilities can be availed by customers who do not have accounts with us at any of our branches transacting in Foreign Exchange. You can buy FCY Cash, TC's and FCY DD's from any our branch and also encash your TC's and Cash at our branches (available at select branches only).

Foreign Exchange can be availed against payments by Cash, Cheque or Pay Order/ Demand Draft. A maximum of Rs. 49,999/- (as per Indian Tax Laws) will be accepted in cash and any amount above Rs. 49,999/-, against a Pay Order or Cheque after clearance of the same. You need to carry the required Documentary Proof for issuance of Foreign Exchange.

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