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It is, but it’s a pain in the rear end to maintain that account. This is what happened. I had an NRE with icici. But kyc requirements kick in after some period
by orochimaaru 3y ago
It is, but it’s a pain in the rear end to maintain that account. This is what happened.
I had an NRE with icici. But kyc requirements kick in after some period during which the account is idle. This happened often, because I don’t use it when I’m in the US and my parents didn’t use it in India.
Getting that unlocked was a bit of a process needing snail mail and identity documents. It wasn’t icici’s fault. They were super helpful.
In short, I closed the account. Besides the depreciating rupee makes it not so attractive to keep dollars in India anymore.
- fakedang 3y ago> the depreciating rupee makes it not so attractive to keep dollars in India anymore. This has been the case for the past decade though, still no reason to keep money in India except pocket change for local expenses. I simply gave my relationship manager an email with all the necessary docs. While very unsafe, it's convenient and a single point of failure. Also helps that I only have the equivalent of like 10k USD in the account.