Encash check in US dollars

[drsel]

Which bank would have the lowest fees for depositing a check in US $ 50

 

[Chiraggyl]

Sell it to local vendor they will give good price

 

[drsel]

Sell it to local vendor they will give good price

But check is in my name how can they encash the check?
Pay to the order of "my name"
No mention of bearer anywhere

 

[drsel]

Cheque is different from the cheques in India

 

[m4b]

Cheque is different from the cheques in India

different words but same meaning no?

 

[RAMESH BABU N]

Some Unauthorozied & illegal chaps/shops accept/purchase cheques/currency n give local currency. And, they usually have their own bank accounts in obscure/small/coop banks which turn a blind eye to many strict rules of RBI and send such items for clearing to a big bank by giving the needed authorizations (which are exactly not correct). Such small banks want some forex collections business at any costs. And, big banks do not want to bend forex rules. Such forex customers want the best possible rates.

However, it is always safer n better to deal directly with big bank's AUTHORIZED FOREX BRANCHES (category A, B or even C type of forex branches). Rural branches do not directly purchase such cheques/currency and they forward them to their service/Cat-A branches on collection basis.

 

[drsel]

I am in a big city with all types of banks.
which bank will take the lowest charges or should I try to give it to a forex dealer

 

[RAMESH BABU N]

For such a low value trxn, it hardly matters. Any bank can do it. Why go to a non-banker ?