Member since: Oct 12
|NRI, ACCOUNT OPENING FORMS, SBI
I chose a Government Bank as I have lost confidence in all of the Banks there in India, because of the great losses incurred by a few and the difficulties experienced by the Account Holders there.
Please bear in mind that the Government insurance on total deposits there is only ONE LAKH
I checked for a SAFE BANK there in India and came out with NONE.
Also, please provide a Successor or a NEXT OF KIN as recipient in case of an Emergency.
Try and choose a Government Bank that asks for a very small amount for Account Opening. Also do not leave any money on deposit for Interest, because of Tax Reporting Requirements and a call for Additional Taxes from the Canadian Government.
There may be additional requirements required, if you use the same for Mutual Funds or Trading.
Also note that there is a risk in Exchange related costs at Deposit and also at Withdrawal. Each Bank has their own requirements, based upon their Experiences.
PLEASE DO NOT PROVIDE ANY S.J.N. NUMBER TO ANYBODY BUT THE CANADA REVENUE. ONLY ONE OF EACH IS REQUIRED FOR THE OPENING OF THE ACCOUNT, AS PROOF. SO, CHOOSE THE LEAST SENSITIVE ONE. REFRAIN FROM PROVIDING THE PASSPORT, IF AT ALL POSSIBLE.
Most of the details could be Attached as DOWNLOADS. I would choose one that has a Branch nearby and you can open one locally.
Originally posted by Many
Is it safe to provide Canadian passport detail, SIN and driving licence details to banks in India either Online or through Postal mail?