INR rupee checking account queries


Jump to Page:
< Previous  [ 1 ]  [ 2 ]    Next >




ani70   
Member since: Oct 03
Posts: 765
Location: Canada

Post ID: #PID Posted on: 03-04-07 20:48:38

Hi,
I am planning to open a INR rupee checking account and use ATM debit card during my one month visit to India.Could anyone please enlighten me about who could be the better option between ICICI,SBI and citibank?
I actually would like to avoid the hassle of carrying $$$ and then converting to INR and partcularly poor exchange rate in the airport.

Thanks


-----------------------------------------------------------------
ani


rajcanada   
Member since: Jul 03
Posts: 2713
Location: Kitchener, ON

Post ID: #PID Posted on: 06-04-07 10:14:16

Citibank offers free international ATM card and free draft issuing facility. I do not know if Citi makes this up by giving a bit poor exchange rate.

ICICI bank charges a yearly free for the international ATM card, not sure if you can issue draft. You can send electronic payment to any bank account in India for free for both Citi and ICICI.

Not sure what SBI offers.

Best would be call all three and know the exchange rate offered and service charges, etc.


-----------------------------------------------------------------
Give free food http://www.thehungersite.com ||


ash_canada   
Member since: Jan 07
Posts: 121
Location:

Post ID: #PID Posted on: 06-04-07 12:26:07

I feel Citibank provides the best service among all 3 banks. They also have a dedicated relationship manager in Toronto. However, their exchange rate for transfers is very bad.

You are not restricted to use their money transfer services. You can use ICICI's money2india or remit2india to transfer money from your CAD checking account to the Citibank NRE account.



ani70   
Member since: Oct 03
Posts: 765
Location: Canada

Post ID: #PID Posted on: 06-04-07 22:25:54

Thank you guys for your input.
I talked with both ICICI and CITI folks and one major diffrence that for CITI I need to keep minimum balance of $1000 where as ICICI only 10,000 Rs.
Are there exchange rate is worse than airport exchange.My friend recently visited India and was saying he only got Rs 33 per CAD at airport .

Thanks


-----------------------------------------------------------------
ani


ash_canada   
Member since: Jan 07
Posts: 121
Location:

Post ID: #PID Posted on: 06-04-07 23:24:58

Hi,

Citibank has some special offers going on where you don't need to keep any minimum balance for 10 years. check it out.

Ash



rajcanada   
Member since: Jul 03
Posts: 2713
Location: Kitchener, ON

Post ID: #PID Posted on: 07-04-07 06:34:16

For Citi, you can open an account with CAD 650 and there is no minimum balance requirement for 10 years if you mention 'offer code 620'. https://www.online.citibank.co.in/portal/Landingmaster.jsp?TID=t1&PID=rca&CID=t1a1p12c1&LMS=RCA$RCAO$RGX$2GCACNRI$2GCACNRI$Google&frmtp_rca
Don't know the exchange rate they are offering since you have to call to get rates. Someone (out of bank's profit or consumer's pocket) must be paying for free ATM card and free draft facility to anyone in India including the courier charges.

Money2India from ICICI bank is offering Rs 36.43 for 1 CAD currently. http://www.money2india.com" rel="nofollow">LINK and click on exchange rates. With Money2India, you can send money only to an ICICI bank account including the NRE account that would open in India.


-----------------------------------------------------------------
Give free food http://www.thehungersite.com ||


ani70   
Member since: Oct 03
Posts: 765
Location: Canada

Post ID: #PID Posted on: 07-04-07 20:41:39

Thanks again.
Did anyone used Canadian ATM debit card in India?
The signs on the backside of my BMO debit card actualy has CIRRUS and Mastero and one of my friend in India said that Bank ATM machines nowadays carry most of international money transfer signs particularly CIRRUS and Mastero.
This could perfectly meet my requirement as I can withdraw exactly that much I need and not transfering all CAD$ into INR via rupee checking account.
Any advice on this option?

Thanks


-----------------------------------------------------------------
ani




Jump to Page: < Previous  [ 1 ]  [ 2 ]    Next >

Discussions similar to: INR rupee checking account queries

Topic Forum Views Replies
Alarming Experience with Auto Insurance Company
Public Services 1490 2
BANKING IN TORONTO ( 1 2 )
Moving Soon 3061 10
Official Exchange Rate of Indian Rupee from 1970
Our Native Country! 1329 5
Saving / checking account
Financial Planning 1912 4
Business Checking Account in Vancouver
Business 1706 6
Bank Accounts
Just Landed 1888 4
Exchanging US Dollars....
USA 1189 5
Credit/Debit Card fraud
Public Services 1630 3
Bringing Money from US to Canada
Moving Soon 1239 5
INR rupee checking account queries ( 1 2 )
Our Native Country! 2630 7
An experience with ICICI for account opening ( 1 2 3 )
Our Native Country! 4576 15
Canadian Income
Moving Soon 1978 3
Rupee Account ( 1 2 )
Financial Planning 2401 8
Thats Intelligence!!!
Have Fun! 1451 1
Needs to check credit to open new account with PC bank.....?? ( 1 2 )
General 3184 10
Coverting Indian account to NRO account
General 1664 3
Advice on Manulife One account
Real Estate & Mortgages 1101 3
Hassle of carrying $$$ to India ( 1 2 )
Our Native Country! 2964 8
Funds transfer and cash money
General 1431 1
rupee / dollar tourist rate
Our Native Country! 1254 1
are USD allowed
Moving Soon 1351 5
I have some CDN$ Looking for Indian Rupee. ( 1 2 3 )
Moving Soon 3804 15
What to do with Old Rupee account in India ?
General 1147 3
How do you send money to India? ( 1 2 )
Financial Planning 4042 7
All we need to know about NRE / NRO Account
Our Native Country! 5337 5
 


Share:
















Advertise Contact Us Privacy Policy and Terms of Usage FAQ
Canadian Desi
© 2001 Marg eSolutions


Site designed, developed and maintained by Marg eSolutions Inc.