Cheque Lock Box (Web-based Cheque Transfer)
Would you want us to call you?
What is Cheque Lock Box?
- An online money transfer service through which you can send money to India by mailing a foreign currency cheque–drawn on any local bank–to a PO Box in your country.
- Funds reach your beneficiary in India 3 to 4 working days after we receive the cheque- reducing transfer time substantially.
- All you need to do is attach a printed form from our Web site along with the cheque. You don't even need to have an ICICI Bank account to send the cheques.
Know more >>
- Fast money transfers –the recipient gets the money 3 to 4 working days after we receive the cheque.
Know more >>
- No limit on the amount that can be remitted.
- Easy - you can post a cheque from the comfort of your home.
- Easy money transfers into ICICI Bank accounts with over 2500 branches.
- Online tracking of the status of your funds.
- Competitive exchange rates.
- EUR 2 charge (inclusive of service tax @ 12.36%) for amounts of EUR 800 or below for electronic credits into ICICI bank accounts.
- No remittance service charge applicable for higher amounts.
- Service tax will be levied on the converted gross INR amount in accordance with the Service Tax (Amendment) Rules, 2012 of the Government of India w.e.f. 1st April 2012. Please click here to know the slab wise service tax structure. This charge would be deducted from the amount to be paid to the beneficiary. For FCNR deposit requests involving currency conversion, there will be a nominal charge of USD 1 (or equivalent of the deposit currency) for FCNR deposits, deducted from the FCNR deposit amount.
- Login with your Money2India login id.
- Select 'Cheque Transfer' as transfer mode.
- Select your receiver or add new receiver where required.
- Enter details such as cheque date, cheque number, cheque issuing bank and transaction amount.
- Select your purpose of Remittance from the given options.
- Select your cheque lockbox location and click on 'Next' button to proceed.
- Once the details are confirmed and submitted by clicking on 'Initiate Transfer' on the next page, you will be provided with a unique Tracking Number (e.g. M2L12345678) along with instructions to complete the transaction.
- Confirm the transaction details and print the instruction sheet along with PO Box address tag.
- For cheques in US and Canadian dollars, ensure that you write the M2L tracking number against the Memo field on the face of the cheque.
- The cheque is then placed for clearing locally in your country.
- The amount is credited in rupees to your beneficiary ICICI Bank account / term deposit after ICICI Bank receives the cleared funds.
- For large amounts, provisional credits may be provided, with a debit freeze on the beneficiary account for a few days.