Bank accounts

#1 Jan 23rd, 2006, 20:48
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#1
Hi,

Can anyone recommend a good bank? Preferably one that has low/no fees for a checking account and doesn't charge you for using other banks' ATMs (if that's possible), is found all over India, doesn't require a high permanent deposit and lets you do Internet and telephone banking. And oh yeah, doesn't make life difficult for you if you are a foreigner with a resident's permit!

Cheers,

Robin
#2 Jan 23rd, 2006, 20:59
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#2
My friends who have Res Perms like ICICI bank, which is certainly all over India and probably doesn't charge for cross-ATMing.
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#3 Jan 23rd, 2006, 23:13
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#3
Any private bank is better than a nationalised bank.

Some like ICICI (I do because of the TV adverts), but I prefer UTI because there is a branch in my local town. There is no ICICI or I probably would have gone there.

With my UTI account I have Internet Banking (iConnect), but I'm not sure about telephone banking.

I also have an international ATM card that does not seem to charge for withdrawals (although I have not tried withdrawing cash from SBI, for instance).

From my personal experience, steer clear of the SBT (State Bank of Travancore) and the SBI (State Bank of India). The staff are government employees and have attitude problems that private enterprise doesn't tolerate.
#4 Jan 24th, 2006, 01:51
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#4
The best Indian banks terms of service are ICICI and HDFC. They are both private banks. If you are going to be living in one of the big cities then there are many foreign banks like Citibank, ScotiaBank, HSBC and others.
#5 Jan 29th, 2006, 11:38
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#5
Corporation Bank has internet banking but other banks ATM machines charge.

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#6 Jan 29th, 2006, 14:45
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#6
In browsing bank websites I've seen fees of around Rs30 for using another bank's ATM. If there is any good reason to prefer a bank that does not have a local branch/ATM then this is not much to be paying for that.

It is peanuts compared to the rip-off charges British banks charge for using their cards in ATMs here.
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#7 Jan 29th, 2006, 16:12
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#7
The UK Building society 'Nationwide' has a 'flexi' account that does not charge for ATM use abroad (including India!) Another IMer reported they had no problems withdrawing money using this card in India

I have an appointment with them on Tuesday to open an account!

Howie
#8 Feb 26th, 2006, 14:52
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#8

ATM: Free ATM usage worldwide and in India by Deutsche Bank

If you are travelling a lot it might make sense to select a bank that is part of the Global CashAlliance. In India currently the new arrival Deutsche Bank is to my knowledge the only bank that is part of the alliance and offers free usage of ATMs in India (e.g. ATMs of Citibank and some other banks can be used free of charge) and the free usage of ATMs in the US and Europe. Some 40 thousand ATMs can be used worldwide free of charge (in the US the ATMs of Bank of America, in the UK Barclays, in Spain, Italy, Germany the Deutsche Bank ATMs.

If you hold an account at one of the partner banks it seems to be a very easy way to access your money.

Cheers

Lukas
#9 Feb 26th, 2006, 17:45
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#9
Quote:
Originally Posted by Lukas_in_Mumbai If you are travelling a lot it might make sense to select a bank that is part of the Global CashAlliance. In India currently the new arrival Deutsche Bank is to my knowledge the only bank that is part of the alliance and offers free usage of ATMs in India (e.g. ATMs of Citibank and some other banks can be used free of charge) and the free usage of ATMs in the US and Europe. Some 40 thousand ATMs can be used worldwide free of charge (in the US the ATMs of Bank of America, in the UK Barclays, in Spain, Italy, Germany the Deutsche Bank ATMs.

If you hold an account at one of the partner banks it seems to be a very easy way to access your money.

Cheers

Lukas
It would be interesting to know how much the initial deposit works out to.
Being a native SBI works the best for me. It has relatively lower costs than the private banks & has ATM all over. They've the largest bank & ATM channels. ICICI is a rip-off IMHO
#10 Nov 3rd, 2010, 19:31
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#10

Question

Quote:
Originally Posted by Lukas_in_Mumbai
If you are travelling a lot it might make sense to select a bank that is part of the Global CashAlliance. In India currently the new arrival Deutsche Bank is to my knowledge the only bank that is part of the alliance and offers free usage of ATMs in India (e.g. ATMs of Citibank and some other banks can be used free of charge) and the free usage of ATMs in the US and Europe. Some 40 thousand ATMs can be used worldwide free of charge (in the US the ATMs of Bank of America, in the UK Barclays, in Spain, Italy, Germany the Deutsche Bank ATMs.

If you hold an account at one of the partner banks it seems to be a very easy way to access your money.

Cheers

Lukas
It would be interesting to know how much the initial deposit works out to.
Being a native SBI works the best for me. It has relatively lower costs than the private banks & has ATM all over. They've the largest bank & ATM channels. ICICI is a rip-off IMHO
Jivanji: what is an ICICI is a rip-off IMHO? English is not my mother tongue...
#11 Nov 4th, 2010, 03:08
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#11
Quote:
Originally Posted by Lukas_in_Mumbai View Post If you are travelling a lot it might make sense to select a bank that is part of the Global CashAlliance. In India currently the new arrival Deutsche Bank is to my knowledge the only bank that is part of the alliance and offers free usage of ATMs in India...
I used the Deutsche Bank Global Alliance option to pull money out of my home country account for several years. I also found the DB branch in Gurgaon to be the most helpful bank I dealt with while there. Only down side is that they have relatively few ATMs in India.
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#12 Nov 5th, 2010, 15:42
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#12
I have lived here for over 4 years and have had accounts with HDFC, ICICI, HSBC and Canara banks.

HSBC have zero balance accounts but they are a seriously messed up bank to deal with.
ICICI are known to squeeze the extra where they can.
HDFC on the whole are good but have at times poor staff training.
Canara are pretty laid back, very efficient, I have a soft sport for them.


I don't have an account with Standard Chartered but have had dealings with them and have been seriously impressed with their service and ethics.

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