Traveling to India in April. Need Indian Rupee bank Account
Looking for a suggestion where to open an indian rupee bank account while I am in the US. Can I open it online? Just want to use that account for local expenses in April.
Why? You can use your debit card for expenses and convert some USD to INR for cash expenses. Opening an NRE/NRO account is easy but takes time and effort for KYC. You can call ICICI customer care and open online / phone. However, like I said the process will take time. Not worth unless you regularly do INR transactions. Oh, and tax time will be fun for you with an international asset account. Lol.
Yes. You can easily open NRI account in private banks (like ICICI, HDFC etc). I opened my account from US. The only issue is if you go to ICICI website, they say give phone number and we will contact in 15 minutes. But it turns out to be 4 or 5 hours and mostly during night and some corner cases of morning or evening. But it would be just 1 call. Then they will set up an online link to fill forms. Print then, sign them, scan them and email it to them with required documents (valid US immigration proof, US address etc) . They will open account in 1 or 2 days and send you checkbook/Debit card from DHL. It was 2 days of trouble but now I can easily take out money in India or pay with card. Sometimes even the international visa cards have issues at small places in India. Good luck
If you planning to open NRE account, go with Yesbank. They offer 6% returns on your money, which is best in market. Can open it online and great customer care. Can you its debit across any atms free of charge.
Dont use Yes bank, they are being downgraded constantly
Get international credit card instead
NRO will allow you to keep in rupee and spend in rupee. NRe keep in dollars spend in rupee. Best suggested way is international credit card
Not worth the hassle. As suggested, use a travel credit card (no foreign transaction fee) and get some cash at airport. You'll be fine.
Lot of international cards don't work at places in India. If I try my capital one visa card with 0% international transaction fee, it works at Delhi airport but not at all places in small cities. Sometimes it does sometimes it doesnt, then I use my ICICI NRI account debit card
If you have Costco credit card, there is no transaction charge and the rates are good.
Agree. You can use Discover too. Don't use debit card. High transaction charges.
If your expense for cash will be less than $10,000. It's not worth the hassle.
Just use cash Get your dollars converted to rupees at a local jewelry shop, most of them do it at real time rates seen on news tv channels live. You can carry 10k$ per person legally