Foreign Currency Cheques/DDs - Others

Send money to an Axis Bank or any other NEFT enabled bank account/ beneficiary in India

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a. Foreign Currency Cheques/DDs: Avail Indian Rupees against cheques/Demand Drafts issued by any bank, in any currency denomination
b. Hyperlinks- Foreign Currency Instruments and Schedule of Charges
1. Axis Bank offers a foreign currency instrument collection service for Non-Resident Indians (NRIs), allowing them to convert foreign currency cheques and demand drafts into Indian rupees.
2. NRIs can submit cheques or demand drafts in foreign currency issued by an overseas bank at any Axis Bank branch in India. The equivalent amount in Indian rupees will be credited to the beneficiary's account.
3. There are three distinct schemes available for Foreign Currency Instrument Collections, depending on the currency and the country where it's payable:
4. Final Credit Scheme (FCS): Exclusively for USD currency. Under this scheme, the drawee bank clears funds before crediting them, ensuring confirmed credit and payment without recourse to the customer.
5. Cash Letter Scheme (CLS): This applies to currencies like USD, CAD, AUD, GBP, and *EUR (only payable in France & Germany). Here, the funds are credited provisionally, and the payment is subject to recourse to the customer.
6. Direct Collection Scheme (DCS): This scheme is for all FCY Cheques/DDs not eligible for FCS & CLS. Subject to specific terms and conditions, these instruments are sent directly to the drawee bank for collection. The credit received is final and non-reversible, with no recourse to the customer.
7. The beneficiary bears all additional charges except those by Axis Bank. We either deduct these charges from the realized amount or recover them from the customer's account if the cheque is returned unpaid.

• All charges in addition to Axis Bank charges are to be borne by the beneficiary which are adjusted from the realized amount or recovered from customer’s account in case if the cheque gets returned unpaid.
• For a detailed Schedule of Charges, please refer to the provided hyperlinks.