Andhra Bank

Lock Box Facility

DEPOSIT SLIP
Cheque should be drawn in favour of ' ANDHRA BANK' only

UNDERTAKING LETTER
(in case you are availing this facility for the first time and crediting your own account)

NRIs in USA can now send the remittances by way of cheques without any delay. NRIs need not send the cheques all the way to India for collection. They can get the cheques realized in USA itself .It saves the time for sending the cheques to India and again sending the cheque back to USA for collection.

It is a revolutionary new way of sending money to India at a marginal cost. It costs less than the wire transfer. Again, it is faster than the present system of cheque collection. NRIs can now deposit their personal cheques in a local Post Box of Bank of America in USA and get proceeds credited in Indian Rupees in Andhra Bank Account in India very fast.

Thus, NRIs have the following advantages under "Cheque Mail Box Facility"

Fast Money Transfer	It is easier than the present system of collection of cheques, Which is taking almost 20 days. It avoids the to and fro Transit of instruments, thereby saves lot of time.
Easy to Send	Customers can post a cheque from the comfort of their home.
Wide Network	Customers can transfer the amounts to accounts in any of 1410 branches (as on 31st Dec 08) in India
Exchange Rates	We give the best exchange rates in the Industry.

All You have to do is

Draw a cheque on any of the Local Banks in USA in favour of "Andhra Bank"
Down Load the Deposit Slip from the site "Deposit Slip" icon and fill it up. Take a print out and attach your cheque
If you are sending the cheque for the first time through this facility to the credit of your own account in our Bank in India, please down load the Undertaking letter also and fill it up and send it to the branch where you have an account. This is only one time formality when you are availing this facility for the first time.
Mail it either by "First class mail" or By Courier through " Fedex, DHL" or Local courier to the address give below:

IF YOU PREFER TO SEND THE INSTRUMENT BY "FIRST CLASS MAIL"	IF YOU PREFER TO SEND THE INSTRUMENTS THROUGH COURIER
Andhra Bank(Mumbai) P.O.Box 841810 DALLAS, TX 75284-1697 USA	BANK OF AMERICA LOCK BOX SERVICES, LOCK BOX 841810, 1950 N. STEMMONS FREEWAY, STE 5010, DALLAS, TX 75207, USA.

How it Works

The cheque sent by you will be presented in Local clearing by Bank of America on our behalf .
A provisional credit will be given to our account after two business days.

The Credit will be processed by our International Division at Mumbai and passed on to the beneficiaries account as mentioned in your Deposit Slip after a cooling period of 12 days from the date of credit to our a/c with BOA.

What is "Cheque Lock Box" facility?

The remitter in USA hitherto has been sending the cheques to India for collection and in turn, the banker is sending the cheque back to USA for realization. The Cheque Lock Box Facility avoids this transit time. The Customer can simply fill up the Deposit slip and send to Local “Bank of America Post Box”.

What is the eligibility?

The person to whom the amounts are being sent (beneficiary of remittance) should have complied with Know Your Customer (K Y C) Guidelines of the Bank and have an account with our Bank.

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