Lock Box Facility
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.
- How it works?
- Rates and Charges
- 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.
- 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 service avoids delay in realization,and additional cost on account of bank charges, postage etc.
- No additional charges on account of bank charges, postage etc.
- Lock box 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
- Please draw a cheque from your bank account in USA. (The cheque is to be drawn in favour of "The Federal Bank Ltd.") - Download the application form and take a print out.
- Duly filled form shall be attached with your cheque and shall be sent to the mailing address
- If sent by Courier :
BANK OF AMERICA LOCK BOX SERVICES
LOCK BOX 847330
1950 N, STEMMONS FREEWAY
DALLAS , TX 75202
- If sent by U S post :
FEDERAL BANK Ltd.
P.O.BOX 847330, DALLAS TX 75284-7330
- Bank of America : USD 2.5 per Cheque
- Federal Bank : Rs 110 per cheque