bank accounts & accessing money outside India
Sep 26th 2012, 1:05 pm
#1
Forum Regular
Thread Starter
Joined: Jan 2007
Posts: 32
bank accounts & accessing money outside India
Hi - was wondering if anybody could help?
We were initally in UTI bank and it transferred to Axix - as we have not used our bank account for a few years we have to go back to Goa to reactivate which we plan to do next year. Here lies a problem. The bank only provides domestic debit cards and we are expecting a fair amount of money to be transfered into the account. Any advice about getting money out of Goa - as with this system we will not be able to withdraw in the UK
Any advice/assistance greatly appreciated.
Gill
We were initally in UTI bank and it transferred to Axix - as we have not used our bank account for a few years we have to go back to Goa to reactivate which we plan to do next year. Here lies a problem. The bank only provides domestic debit cards and we are expecting a fair amount of money to be transfered into the account. Any advice about getting money out of Goa - as with this system we will not be able to withdraw in the UK
Any advice/assistance greatly appreciated.
Gill
Sep 26th 2012, 1:56 pm
#2
Yes a friend to all BEs
Joined: Feb 2012
Location: Pune, near Mumbai
Posts: 279
Re: bank accounts & accessing money outside India
Hi - was wondering if anybody could help?
We were initally in UTI bank and it transferred to Axix - as we have not used our bank account for a few years we have to go back to Goa to reactivate which we plan to do next year. Here lies a problem. The bank only provides domestic debit cards and we are expecting a fair amount of money to be transfered into the account. Any advice about getting money out of Goa - as with this system we will not be able to withdraw in the UK
Any advice/assistance greatly appreciated.
We were initally in UTI bank and it transferred to Axix - as we have not used our bank account for a few years we have to go back to Goa to reactivate which we plan to do next year. Here lies a problem. The bank only provides domestic debit cards and we are expecting a fair amount of money to be transfered into the account. Any advice about getting money out of Goa - as with this system we will not be able to withdraw in the UK
Any advice/assistance greatly appreciated.
The re-activation of the account is not connected to the repatriation of funds. Of course the re-activation is absolutely necessary and you should get it done ASAP, imho. At least send an email to the Axis Bank branch from your email ID registered with them.
As for repatriation of funds to UK, there are procedures and best to sort things out BEFORE funds credited into the Bank. AFAIK, its very important for you to explain original source of funds and the source of new funds credit to be received, tax returns to be cleared and a Certificate for that, but as I said best to check with the Bank or better still, a good Accountant.
Cheers
Sep 26th 2012, 3:10 pm
#3
Forum Regular
Joined: Mar 2008
Posts: 268
Re: bank accounts & accessing money outside India
Hi - was wondering if anybody could help?
We were initally in UTI bank and it transferred to Axix - as we have not used our bank account for a few years we have to go back to Goa to reactivate which we plan to do next year. Here lies a problem. The bank only provides domestic debit cards and we are expecting a fair amount of money to be transfered into the account. Any advice about getting money out of Goa - as with this system we will not be able to withdraw in the UK
Any advice/assistance greatly appreciated.
Gill
We were initally in UTI bank and it transferred to Axix - as we have not used our bank account for a few years we have to go back to Goa to reactivate which we plan to do next year. Here lies a problem. The bank only provides domestic debit cards and we are expecting a fair amount of money to be transfered into the account. Any advice about getting money out of Goa - as with this system we will not be able to withdraw in the UK
Any advice/assistance greatly appreciated.
Gill
John
Sep 26th 2012, 3:32 pm
#4
Yes a friend to all BEs
Joined: Feb 2012
Location: Pune, near Mumbai
Posts: 279
Re: bank accounts & accessing money outside India
Yes John thats an option but definitely Axis Bank will have the Intl Card facility, just need to check. Easier that way. Besides, Gill is not here in India so opening new account, getting the necessary paperwork for transfer of funds to new acc, etc. may be bit cumbersome process.
Sep 26th 2012, 6:17 pm
#5
I love apathy!
Joined: Feb 2008
Posts: 1,248
Re: bank accounts & accessing money outside India
Axis Bank definitely provide international debit cards that in some cases are valid for up to 5 years.
H.
H.
Sep 28th 2012, 9:07 am
#6
BE Forum Addict
Joined: May 2007
Posts: 2,941
Re: bank accounts & accessing money outside India
As IndianFriend points out the correct procedure involves getting an accountant's tax certificate.
The procedure is a bit different for PIO's and (in theory!) Indian residents).
AndyD 8-)₹
Oct 15th 2012, 12:51 pm
#7
Just Joined
Joined: Jul 2011
Posts: 10
Re: bank accounts & accessing money outside India
my axis card will work in uk only used for goods not cash try small amounts first petrol etc
