My son has taken up a job in the US and will soon send me dollar cheques. Will I have to open a separate account to encash them, or will my savings account have the facility?

Aruna Balwant, Noida

In these days of better technology, it is simpler for your son to use an electronic remittance facility and send the money through electronic transfer so that it can directly be credited into your savings account in Indian rupees. He can electronically remit money from any of the Indian banks having international branches, or can use the SWIFT facility if he has his account with a bank that does not operate in India. It takes one to three working days for the funds to get credited into your account, which will be faster than the time it takes for a cheque to reach you and then get into clearing, and crediting into your account.

olmdesk@outlookindia.com