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Can I deposit dollars in Indian bank?
Yes, one can deposit check any currency cheque in his or her bank account. The process for clearance is longer than the Indian bank to bank clearance.
Can we transfer foreign currency to Indian account?
NRIs can send money directly from their bank account abroad to the recipient’s bank account in India. This is called the Wire Transfer of funds. In Wire Transfer, usually, it takes up to 48 hours for the money to get credited to the beneficiary bank account.
Can I deposit USD in NRE account?
An NRE Account or Non-Resident External Account offers you this facility. Here, your money is converted into Indian Rupee or INR at the time of deposit. This means that you can deposit money in any foreign denomination, e.g. US Dollar and withdraw it in Indian Rupees.
Can I have a US dollar account in India?
A resident of India can open, hold and maintain foreign currency accounts in and outside India. A person resident in India can open a foreign currency account in India with an authorised dealer. It is opened, held and maintained in the form of a current or savings or term deposit account.
Which is the best way to send money to India?
6 Best Ways to Send Money to India
- Online Bank Account Transfer (ACH Transfer)
- Online Transfers.
- Wire Transfers.
- Cashier’s Checks, Money Orders, and Bank Drafts.
- Money Transfer Companies.
- Email Money.
How can I transfer money from us to NRE account in India?
Here are the steps to transfer money from USA to India: Step 1: Open a DBS Treasures NRE account. Step 2: Log in to your local savings account in USA and choose international funds transfer, remittance or a similar option. Step 3: Enter your mobile number or Customer ID.
Can NRI open USD account India?
NRIs can maintain bank accounts in India in the form of rupee or foreign currency accounts. The latter can be maintained only with RBI authorised dealers or banks. NRIs can maintain the following types of accounts: Non Resident (Ordinary) Rupee Account (NRO account)