Vancouver, Surrey Indian Community -
| | |


Topic: Banking between India and USA

Category: General        

Share With Your Friends
Note: Any discussions for female friendships should only be responded by females or else we will cancel your membership without any notice. 
Start A New Discussion

View Other Discussions
Topic : Banking between India and USA

Sy Z.
Member of
City: Seattle
Hi -- has anyone set up a bank account in India and have been able to access it via banks in the USA? I noticed that deposit interest rates in Indian banks are SO much higher than ones in the USA. I wondered if any NRIs or PIOs here have taken advantage of this by depositing $$$ into Indian banks to earn those higher interest rates while living in the USA. If so, what are the pros/cons of doing so? Tax/legal issues? etc.

Post Response Add To Favorite

Total Replies: 1

Responses (Total Replies: 1)

kewl n.
Member of
City: corvallis
What do you mean by access via banks in US ? Do you mean, if i log into US bank account I should be able to view the corresponding Indian account linked as well ? I am not aware of any such bank service. Suspect there is no easy way to confirm the identity of the person for this service. You always loose money when you transact through the bank. This is the way, I handle it. I have a good network of friends and relatives who frequently visit US on and off. I pay them into their US bank accounts and the equivalent amount in INR is transferred into my Indian account. Of course, lot of it is dependent on trust.As far as PIOs go ( assuming converted to citizenship) , every US citizen needs to declare their offshore accounts/property/loans for tax purposes. Its better not to give up the Indian citizenship considering India still does not offer dual citizenship.

View Other Discussions

Disclaimer: These discussions are usually meant to be there forever so that other users can benefit from them. We reserve the right to accept or deny any discussions. All the discussions are posted by individual members of Any information including your email address, profile name or phone number might remain on the site forever even if you cancel your account so please post only that information which you want other users to see and cached by search engines. is not responsible for the validity of the content. Please use your own discretion when meeting or conducting a transaction based on this discussion. We are not liable for any damages.

Meet Local Singles

sarvesh bangre

kets m

cool smart
cool smart

Jag Sub

Balaji P

Goldi Makhija
Goldi Makhija

Ankita Taneja

Anusha Konchada

Bharath Manohar
Bharath Manohar