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Banking Options for Expats

Many international banks are located in India, several of which have branches in Bangalore. All international banks have English-speaking staff, as do most local banks. Generally, most local and international banks are open from 10 am – 4 pm Monday to Friday, and 10 am – 1 pm on Saturdays. Nearly all banks have 24-hour ATM services in all major cities but you generally cannot withdraw more than Rs 25,000 per day, and most limit Rs 12,000 per transaction. ATMs are dotted along most major roads and in shopping complexes.

Most banks in India are on par with international standards, offering online and telephone banking services. Some banks, like HSBC, provide a security device in order to use online services which provide a unique passcode for each online login. Making wire transfers to foreign accounts involves a little bit of paperwork depending on which type of account you hold (ie. dollar and/or rupee account) and what your residency/working status is in India.

If you already have a bank in your home country that has a presence in India too, it is easiest to organize an Indian account with this same bank. If not, it is advised to open an account in your home country with an international bank that has a presence in Bangalore, as it will simplify transfers and such. HSBC offers ‘Premier’ service (an international seamless service) to those in excess of USD$50,000 in their account.

International Banks with a Local Presence:

Reliable Indian Banks with a Local Presence:

Top Tips

01 Always carry several passport-sized headshots with you. You will require these for nearly every account you open and every form that you complete.
02 When filing applications and opening accounts (particularly with government offices) ensure you bring with you every imaginable supporting document.
03 Government offices in particular can be very arbitrary and demanding on your patience, so be prepared for a full run-around and keep your patience!
04 Building a social network in Bangalore is very important, both for the feel-good factor, as well the premise that India operates on connections.
05 As a foreigner, you may not be expected to play by the many cultural rules that exist for most Indians. Despite this you should always make an effort.

Useful links

Interesting fact

Nearly 40% of Bangalore’s landscape is actually made up of gardens and parks. In addition to this, 15% consists of lakes and ponds.
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