Sending money to your loved ones back home is now a matter of a few clicks! With NRIs and even students studying abroad increasingly preferring the Internet as the fastest means of money transfer, e-banking is fast catching on!
Most private and public sector banks have started online account opening and operating facilities for NRIs as well as domestic customers.
Although most banks have done away with comprehensive paperwork, some documents are still mandatory for opening an account. Check out the specifics of some of the leading banks:
Quick and easy services
IDBI offers the “Insta Online Account” facility to NRIs where they can open an NRE savings account sitting at home or work. Some information like passport and visa details, address, and current email address is to be provided while opening this account. The specified documents can be sent to the bank at a later date.
The Centurion Bank of Punjab also offers a similar facility to NRIs - the application form can be downloaded and sent to the bank with the requisite papers. The account number is generated immediately after processing the form to facilitate transfer of money.
Citibank’s “Rupee Checking Account” for NRIs can be also opened online by filling, printing and submitting the form with necessary documents to the local Citibank NRI service center.
A savings or current NRE account with HSBC can be accessed anytime, from anywhere, through the Internet or phone banking. On providing basic contact information like your name, e-mail address and location on their website, the bank’s customer services officers guide NRIs through opening an appropriate account.
Nationalized banks too get e-smart
India’s largest public sector bank, the State Bank of India (SBI) also offers an online NRE account opening service. The application form can be downloaded from SBI’s website and submitted to any of its branches with specified documents.
ICICI Bank’s application form can be downloaded from their website and submitted along with the supporting documents. For the convenience of its customers, the bank offers a pick-up facility for NRIs, and a PO Box service for NRIs in the US to save on courier charges.
In a nutshell, NRIs can open an account online with any bank of their choice just by submitting an application form and requisite documents.
How much time did you have to spend on opening an online account? Was the procedure really hassle-free like most banks claim? Could this service be made more convenient?
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