Bank account

#1 Sep 2nd, 2008, 13:48
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  • Ambler is offline
#1
Hello! Question: how difficult is it to open a bank account in India? Any idea what kind of documentation I'll need? As I expect to have to pay a good sum of rent up front I'll need a bank account to which I can transfer money from the US, and I'll need that pretty quickly. I'll be coming to India on an "x" visa as I'll be on a grant doing teacher development work in Tamil Nadu.

Many thanks! I'm looking forward to an IM meetup after we arrive in October so I can put faces to the names, and thank people in person for all the incredibly helpful info on this forum!
#2 Sep 2nd, 2008, 14:12
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Even tourists are permitted to open temporary accounts, though they may find that the banks are not actually interested.

I found that the Resident's Permit was what opened the door for me.
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#3 Sep 2nd, 2008, 15:22
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  • Rockyp44 is offline
#3

bank account

Pls. see my question about how to transfer dollars OUT of India to a foreign bank on this forum.

The only FOR SURE way that I know of is through Axis bank. We set up accounts at the one in Velachery Main Rd. One colleague has already transferred money once to the US. Vinodh is our contact there for Premium Customers.I will be transferring this week or next week and update that thread.
#4 Sep 3rd, 2008, 00:55
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#4
Quote:
Originally Posted by Ambler View Post Hello! Question: how difficult is it to open a bank account in India? Any idea what kind of documentation I'll need? As I expect to have to pay a good sum of rent up front I'll need a bank account to which I can transfer money from the US, and I'll need that pretty quickly. I'll be coming to India on an "x" visa as I'll be on a grant doing teacher development work in Tamil Nadu.
I think its best if you start things on the US end say with Bank of AMerica or Citibank and get all the info you need and even open the Indian a/c from there and use it to write checks while in US and mail them. Those two have branches in India and definitely in Chennai. I have done this but then I am a NRI/PIO. Good luck.
#5 Sep 3rd, 2008, 01:31
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  • edwardseco is offline
#5
Your granting agency could provide a letter of recommendation that may help you with the bank India side..
#6 Sep 3rd, 2008, 15:25
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  • Rockyp44 is offline
#6

banking docs

Quote:
Originally Posted by VJ HAWK View Post I think its best if you start things on the US end say with Bank of AMerica or Citibank and get all the info you need and even open the Indian a/c from there and use it to write checks while in US and mail them. Those two have branches in India and definitely in Chennai. I have done this but then I am a NRI/PIO. Good luck.

I agree, although I am a working foreigner in Chennai. If these 2 banks don't charge you to let money sit, open accounts with them and you might find it easier to withdraw your money in India. I did not check out BofA or Citibank while trying to do outward remittance.

Be sure to bring about 10 ORIGINAL letters on letterheads from your organization that is sending you here using the name on your passport. You will need them for a multitude of bureaucratic things, including a bank account.
#7 Sep 4th, 2008, 23:27
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  • mirjamd is offline
#7
I also opened a bankaccount without any problems at the HSBC bank. They did need proof of address, but the registration certificate from the FRO office was enough.

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