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Best way to open a Foreign Bank Account from India
- Thread starter hvninhll
- Start date
Utoppia . .
there is also grabrfi
HSBC Premier only facilitates opening the bank accounts remotely, where they're permitted to do so.
But if you show up in person to the bank branch in any jurisdiction where you meet the criteria to be able to open bank account, you can do so. Some will let you open one online if you register for a local tax ID which in many places, including India, let's anyone get one even if they have no ties and have never traveled to that country.
Of course most banks will require you to do so in person and might ask for a local address and reference, regardless of your country of residence.
There's plenty of countries with lax requirements where you can open a bank account as a foreigner without much or any paperwork ie Singapore, Hong Kong, UAE, etc.
Are they permitted in USA?
If you're genuinely interested and you are eligible ring them up and ask.
Banks in the US aren't obligated to only accept SSN/ITIN for opening a bank account, but it is at their sole their discretion.
Some branches will let you, some won't. If you don't have these IDs you'll most likely be required by the bank to show up in person with the original valid IDs such as passport, DL, tax ID, etc.
But again it is at their sole discretion and you'll still require whatever paperwork they ask depending on the jurisdiction.
So they will require a local address in the US and potentially additional documents like PAN.
If you search online it does vary a lot from case to case, and in general HSBC Premier is NOT recommended over any alternatives.
You will need to be tax compliant in the US and also India.
So don't open a US bank account on a whim just because you think it's cool or somewhat useful.
Paying education expenses!!
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