Open Local Bank Account?

#1 Sep 9th, 2013, 00:29
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  • txk.dave is offline
#1
You guys are great with your input, so here is another matter I have been pondering . . .

As I am going to Ahmedabad for six months for volunteer work, is it wise - or even possible - to open a bank account there for a short period of time. Or is it better to just have traveler checks at my disposal.

Thanks,
David
#2 Sep 9th, 2013, 02:10
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  • edwardseco is offline
#2
Not easy, requires a steady residence, a reference, etc. But, some people are saying that it now requires a residence permit. Its been a awhile since I did one so maybe some hale and hearty soul will jump in..
#3 Sep 9th, 2013, 09:35
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  • Matka is offline
#3
Probably impossible. Maybe a global ATM card is best.
#4 Sep 9th, 2013, 11:53
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  • DrRudi is offline
#4
Quote:
Originally Posted by txk.dave View Post As I am going to Ahmedabad for six months for volunteer work, is it wise - or even possible - to open a bank account there for a short period of time.
On the assumption you recieve no remuneration, I think the answer has to be 'no'.


Quote:
Or is it better to just have traveler checks at my disposal.
Traveller's cheques are a 20th century curio.

Check with your financial institution what they will charge you to access your own money whilst in India.

Ideally you are looking for a VISA or MasterCard branded debit card, with a 4 digit PIN, where your bank does not charge currency conversion fees, or foreign ATM fees. Have this card linked to your transaction (checking) account

If you still don't have a 'chip and PIN' card, it's time you got one.

You may need to shop around - I'm not familiar with the American 'travel money' market, so cannot make a specific product suggestion.

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