Bank accounts

all-one-heart · Jan 6th, 2008, 23:38

Hi,
I understand from all of you that an International visa card is the best and that I can get cash with it in any major city, or even smaller when ever I want, even if my bank is french.

However, it has not become clear to me if I can open an account in India if I am a tourist? Is that possible?

I'd want to be able to get cash or write a check when I want.

Thanks!
I hope you are still out there to answer??????

Nick-H · Jan 7th, 2008, 00:14

Technically, yes you can, and certain banks may, in certain areas, be interested to help you --- I've seen notices in ATMs near Kovalam in Kerala inviting travellers to open accounts for six months.

However, My experience of Chennai banks is that they were not keen at all. I became a desirable "Sir" the minute I got a residents permit; before that I got excuses.

machadinha · Jan 7th, 2008, 00:26

My guess is anywhere in the world this would be a hassle not worth it for any but a very long-term tourist.

But... that's just a guess.

Nick-H · Jan 7th, 2008, 01:15

Quote:

very long-term tourist.

IIRC (from other posts on Indiamike) these accounts are supposed to be maximum six months duration, as is the maximum stay on a tourist visa --- but banks have been known to 'neglect' to close them, or to keep them dormant until the next visit.

all-one-heart · Jan 12th, 2008, 22:14

Hi, I've been following all this...
It has still not become clear to me if I can open an account in Ponicherry since I have a only tourist (but 10-year, hopefully) visa? Is that possible?
If so, with which bank would you say the best bet? My French bank is affiliated with HSBP. (or is it HBSP...anyway!)

I'd want to be able to get cash or write a check when I want.

Thanks!
I hope you are still out there to answer??????

Dilliwala · Jan 13th, 2008, 01:41

Well officially u can't since u're not a resident, u might be able to talk HSBC into it (don't know if they have a branch or not - ask in the Pondicherry sub-forum) by showing them your ten-year visa.

all-one-heart · Jan 13th, 2008, 02:06

So please, how do I find the "Pondicherry Sub Forum"?
I'm a bit too new here yet to be able to find it and ask them my question about opening an account!

machadinha · Jan 13th, 2008, 02:37

I'm not sure what Dilli meant; there is no Pondi sub-forum on this board, but there is one for Tamil Nadu. (You'll find all the forums listed on this page, linked to by the "Forums" link on top of any page.)

On the other hand, the board discourages double posting, as outlined in the Forum Rules, as it can only serve to confuse the hell out of everyone.

So let's just hope your questions get answered on this thread

Dilliwala · Jan 13th, 2008, 06:36

Sorry, macha, I thought it existed. I now see Pondy threads are under TN (not strictly correct though

).

a-o-h, check here for HSBC branches:
http://www.hsbc.co.in/

all-one-heart · Jan 15th, 2008, 23:51

Thanks for the link http://www.hsbc.co.in/1/2/homepage. Went there and sure looks like they have no sevices in Pondicherry.

Cayle · Oct 1st, 2008, 17:11

Sorry to revive an old thread, but I figured that it would be better than creating a new one.

My problem is that we are paid in Euros on an account in Germany. Our employer pays the rent and most of my expenses can be paid in cash, so I always keep a fat stack of cash. I can list half a dozen ATMs within 2km that have a RS 20,000 withdraw limit and one with RS 40,000.

So far, so good...

But occasionally I do get pesky demand draft requirements and for this, I really need an Indian bank account. Does anyone know of a bank/account type that an expat with an FRO permit can use that is not one of those gold plated "Expat" accounts. They require me to park 10 lakh and I find this completely silly for simply paying a few cheques now and then.

Dilliwala · Oct 3rd, 2008, 19:22

Revive away, you have no idea how appreciative I am!

Maybe not relevant, but last year I had occasion to ask for someone what the rules were for an NRO a/c (Indian citizen). While a private bank said min. USD 400, a govt-owned bank said no min. as such. Since you're in Canara-Bank-land as it were

, I wud go and enquire with them.

capt_mahajan · Oct 3rd, 2008, 20:45

Cayle, go to either to

- a nationalised bank who will have a low limit

- or a private one (this is preferable, axis or hdfc, I would avoid ICICI) and tell them you want a normal account and not any 'privilieged' (read high end) one. Limits will be far lower.

A NRO savings account with Axis has a minimum 5000 rupee balance, last I checked- with ATM and chequebooks thrown in.

Nick-H · Oct 3rd, 2008, 22:16

10 lakh is way too high. Our Axis bank is, I think, 2 lakh, but that can include deposits and other relationship holdings with the bank. We also have a deposit at State Bank of Mysore. Their limit for a priority account is only 1 lakh.

It is worth it, in terms of not having to join great queues, and so on. In fact much of your banking can be done on your own doorstep; they will come to you.

Our Axis bank branch was brilliant; but, since the change from UTI bank, and the moving on of our 'relationship manager' they have just become another marketing-oriented organisation. They are probably still better than some of the private banks that have been like for a long time, though!

Kanehanahou · Oct 22nd, 2008, 21:27

I'm planning to go (or is that come?) to India for long enough to think a bank account is in order. There are 2 problems though that I need to figure out before I do. I'm able to open an account with SBI in Los Angeles, and have it set up at any branch I choose, however, they're not good yet with answers.

Prob #1 - I have money direct deposited to my US account. I need to find a neat clean ONLINE way to transfer money from my US account to my Indian account (far under the limit to look like a drug smuggler or money launderer)

Prob #2 - Is it possible to find a NON-interest bearing account in India. I am in the enviable position of not even having to FILE taxes in the USA forever (yes completely legal, I filed for economic stimulus even though I was not required to file a return), and the first hint of interest, wages, or the like will wreck all that.

Any suggestions for either of these?

Jan 6th, 2008, 23:38	#46
all-one-heart Member Join Date: Sep 2007 Location: FRANCE Posts: 98	Wrapping it all up with a question too - about banks! Hi, I understand from all of you that an International visa card is the best and that I can get cash with it in any major city, or even smaller when ever I want, even if my bank is french. However, it has not become clear to me if I can open an account in India if I am a tourist? Is that possible? I'd want to be able to get cash or write a check when I want. Thanks! I hope you are still out there to answer?????? __________________ all-one-heart

Jan 7th, 2008, 00:14	#47
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 27,692	Technically, yes you can, and certain banks may, in certain areas, be interested to help you --- I've seen notices in ATMs near Kovalam in Kerala inviting travellers to open accounts for six months. However, My experience of Chennai banks is that they were not keen at all. I became a desirable "Sir" the minute I got a residents permit; before that I got excuses. __________________ . Just one member of the IndiaMike Mod Team

Jan 7th, 2008, 00:26	#48
machadinha Not Your Guru Member Join Date: Jan 2005 Location: yörp Posts: 10,917	My guess is anywhere in the world this would be a hassle not worth it for any but a very long-term tourist. But... that's just a guess. __________________ Reading tips, all picked up at IndiaMike : INDAX's A Comprehensive Guide To India / Dinoj Surendran's Desi Humor / ITHVC on Culture Shock & Travel Health / JetLag Travel Guides For the Undiscerning Traveller / India Travel Links

Jan 12th, 2008, 22:14	#50
all-one-heart Member Join Date: Sep 2007 Location: FRANCE Posts: 98	Again, specific bank question Hi, I've been following all this... It has still not become clear to me if I can open an account in Ponicherry since I have a only tourist (but 10-year, hopefully) visa? Is that possible? If so, with which bank would you say the best bet? My French bank is affiliated with HSBP. (or is it HBSP...anyway!) I'd want to be able to get cash or write a check when I want. Thanks! I hope you are still out there to answer??????

Jan 15th, 2008, 23:51	#55
all-one-heart Member Join Date: Sep 2007 Location: FRANCE Posts: 98	No easy way! Thanks for the link http://www.hsbc.co.in/1/2/homepage. Went there and sure looks like they have no sevices in Pondicherry.

Jan 13th, 2008, 01:41	#51
Dilliwala Funky flunky Join Date: May 2007 Location: 28N 077E / दिल्ली Posts: 3,918	Well officially u can't since u're not a resident, u might be able to talk HSBC into it (don't know if they have a branch or not - ask in the Pondicherry sub-forum) by showing them your ten-year visa.

Jan 13th, 2008, 02:06	#52
all-one-heart Member Join Date: Sep 2007 Location: FRANCE Posts: 98	So please, how do I find the "Pondicherry Sub Forum"? I'm a bit too new here yet to be able to find it and ask them my question about opening an account!

Jan 13th, 2008, 02:37	#53
machadinha Not Your Guru Member Join Date: Jan 2005 Location: yörp Posts: 10,917	I'm not sure what Dilli meant; there is no Pondi sub-forum on this board, but there is one for Tamil Nadu. (You'll find all the forums listed on this page, linked to by the "Forums" link on top of any page.) On the other hand, the board discourages double posting, as outlined in the Forum Rules, as it can only serve to confuse the hell out of everyone. So let's just hope your questions get answered on this thread

Jan 13th, 2008, 06:36	#54
Dilliwala Funky flunky Join Date: May 2007 Location: 28N 077E / दिल्ली Posts: 3,918	Sorry, macha, I thought it existed. I now see Pondy threads are under TN (not strictly correct though ). a-o-h, check here for HSBC branches: http://www.hsbc.co.in/

Oct 1st, 2008, 17:11	#56
Cayle Senior Member Join Date: Jun 2008 Location: Bangalore Posts: 130	Sorry to revive an old thread, but I figured that it would be better than creating a new one. My problem is that we are paid in Euros on an account in Germany. Our employer pays the rent and most of my expenses can be paid in cash, so I always keep a fat stack of cash. I can list half a dozen ATMs within 2km that have a RS 20,000 withdraw limit and one with RS 40,000. So far, so good... But occasionally I do get pesky demand draft requirements and for this, I really need an Indian bank account. Does anyone know of a bank/account type that an expat with an FRO permit can use that is not one of those gold plated "Expat" accounts. They require me to park 10 lakh and I find this completely silly for simply paying a few cheques now and then. __________________ Blog - http://ayearinindia.wordpress.com/ Panoramo Photos - http://www.panoramio.com/user/1275355

Oct 3rd, 2008, 19:22	#57
Dilliwala Funky flunky Join Date: May 2007 Location: 28N 077E / दिल्ली Posts: 3,918	Revive away, you have no idea how appreciative I am! Maybe not relevant, but last year I had occasion to ask for someone what the rules were for an NRO a/c (Indian citizen). While a private bank said min. USD 400, a govt-owned bank said no min. as such. Since you're in Canara-Bank-land as it were , I wud go and enquire with them. Last edited by Dilliwala : Oct 4th, 2008 at 05:55.

Oct 3rd, 2008, 20:45	#58
capt_mahajan (in charge of navel affairs) Join Date: Sep 2005 Location: India Posts: 10,509	Cayle, go to either to - a nationalised bank who will have a low limit - or a private one (this is preferable, axis or hdfc, I would avoid ICICI) and tell them you want a normal account and not any 'privilieged' (read high end) one. Limits will be far lower. A NRO savings account with Axis has a minimum 5000 rupee balance, last I checked- with ATM and chequebooks thrown in.

Oct 3rd, 2008, 22:16	#59
Nick-H Loud-mouthed, Noisy Bird Join Date: Oct 2004 Location: Chennai, India Posts: 27,692	10 lakh is way too high. Our Axis bank is, I think, 2 lakh, but that can include deposits and other relationship holdings with the bank. We also have a deposit at State Bank of Mysore. Their limit for a priority account is only 1 lakh. It is worth it, in terms of not having to join great queues, and so on. In fact much of your banking can be done on your own doorstep; they will come to you. Our Axis bank branch was brilliant; but, since the change from UTI bank, and the moving on of our 'relationship manager' they have just become another marketing-oriented organisation. They are probably still better than some of the private banks that have been like for a long time, though!

Oct 22nd, 2008, 21:27	#60
Kanehanahou Miscreant Join Date: May 2005 Location: Long Beach, CA Posts: 52	Same problem with a tweak I'm planning to go (or is that come?) to India for long enough to think a bank account is in order. There are 2 problems though that I need to figure out before I do. I'm able to open an account with SBI in Los Angeles, and have it set up at any branch I choose, however, they're not good yet with answers. Prob #1 - I have money direct deposited to my US account. I need to find a neat clean ONLINE way to transfer money from my US account to my Indian account (far under the limit to look like a drug smuggler or money launderer) Prob #2 - Is it possible to find a NON-interest bearing account in India. I am in the enviable position of not even having to FILE taxes in the USA forever (yes completely legal, I filed for economic stimulus even though I was not required to file a return), and the first hint of interest, wages, or the like will wreck all that. Any suggestions for either of these? __________________ << Back to India - Spring '09 >>

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