Federal Bank Introduces An easy remittance route for our NRI patrons in USA
Ever faced delays in sending funds to your bank accounts in India? Here is a smart solution! Now you need not send your personal Cheques all the way to India for your fund transfers or go in for an expensive wire transfer. Instead, opt for Lock Box Services
What is Lock Box?
Lock box is a value added service provided by Federal Bank, in association with Bank of America, This service avoids the delay in getting realization of your US$ personal cheques. Hitherto your personal cheques were to be first sent from USA, all the way, back to India and these instruments had go back to USA for presentation in clearing for realization of funds. Now you can deposit your personal cheques in a local Post Box of Bank of America in USA and get credits in your Federal Bank account in India very fast. Lock Box services avoid delay in realization, and additional cost on account of bank charges, postage etc.