A comprehensive study on interpolation schemes used in overset grid techniques is here presented. Based on a literature review, numerous schemes are implemented, and their robustness, accuracy, and performance are assessed. Two code verification exercises are performed for this purpose: a 2D analytical solution of a laminar Poiseuille steady flow; and an intricate manufactured solution of a turbulent flow case, characteristic of a boundary layer flow combined with an unsteady separation bubble. For both cases, the influence of grid layouts, grid refinement, and time-step is investigated. Local and global errors, convergence orders, and mass imbalance are quantified. In terms of computational performance, strong scalability, cpu timings, load imbalancing, and domain connectivity information (DCI) overhead are reported. The effect of the overset-grid interpolation schemes on the numerical performance of the solver, that is, number of nonlinear iterations, is also scrutinized. The results show that, for a second order finite volume code, once diffusion is dominant (low Reynolds number), interpolation schemes higher than second order, for example, least squares of degree 2, are needed not to increase the total discretization errors. For convection dominated flows (high Reynolds numbers), the results suggest that second order schemes, for example, nearest cell gradient, are sufficient to prevent overset grid schemes to taint the underlying discretization errors. In terms of performance, by single-process and parallel communication optimization, the total overset-grid overhead (with DCI done externally to the CFD code) may be less than 4% of the total run time for second-order schemes and 8% for third-order ones, therefore empowering higher-order schemes and more accurate solutions.