Hey

Just a quickie question.

How much money can I withdraw out of my ICICI account per day? Thinking of flying to India to try and bring some cash home (converted into pounds of course)

Cheers

http://www.icicibank.com/pfsuser/ici...ay/sal_r&f.htm

hope this helps

At todays rate-68rps to £1 don't think I would be taking much out of the bank to change back into pounds.
Just looked at our bank statements and 22,000 it the largest we ever took out quite a few times when we were buying furniture etc so would guess that is it.

emsirrah..totally disagree, this is the best time to change your rupees back to pounds.
If you change 1lakh rupees
at R68 you would get £1470
at R80 you would get £1250
at R85 you would get £1176
Definately do it now if you can !!
regards
Indiapurple

I totally got that the wrong way round. :curse: silly me. sorry.
Thinking of it from changing it to rupees. Yes of course you would have to give less.

You got the "telling Mitzy to f-off bit" wrong too, it happened on 15th Nov. 2008. Thought it sounded familiar!
Love
J5

Would like to start a new thread of how to transfer money from UK when the rupee is on a high in Monsoon. Have heard that some people have only been charged as little as £10? Anybody got the names of the banks which transfer to HDFC Goa for that amount.

Still have problems with site, cannot start threads etc.

Hi Noni try ICICI we transfered money out with them last year and it was about £10 but we have an account with them

We transfer via Citibank. The transaction is instant and online- you can log into both accounts and see the money transferred in seconds. There are no charges and we normally get the best rate that way. They should be able to help even if you don't have an account with them

Really am having a "senior moment" day today J5 - must have been too early in the morning. Will go and have a look. Some of these threads are being resurrected after a year and I never look at the dates - until it is too late it seems.

we use ICICI as well but our last transfer we got a v. poor rate - Rs. 69.5 where on the same day we got Rs.72 for a small withdrawal on an ATM (good old Nationwide!)
Think I'll talk to CitiBank or Axis

AndyD 8-)#

the best bank in Goa for FNs? which is it??

IDBI never had any problems and the service is brilliant

I HAVE different bank accounts here,HDFC and ICICI.

Hdfc are by far the best,excellent service and nothing is too much trouble for them.As for icici,totaly useless,we have been trying to change our address with them for the past 8 months and it still hasn'nt been done.

John

I think you will find that under Indian financial laws, you are required to hold a valid visa whilst operating a bank account.

Strictly following the letter of the law you should close your bank account before one visa ends and open a new one when you return.

Different banks have different attitudes to this situation, some ignore it, some are aware and rigorously enforce it, some deny the law exists, etc. Bear in mind, its in their interest (sic) to get hold of your money, like any bank. In theory, having a UK ICICI bank account doesn't alter any of the above.

The law involved is FEMA (Foreign Exchange Management Act) which is available on line if you search. The wording is in plain English and straight-forward.

With the Indian Authorities closing in on everything foreigners do here, especially the British, please be careful, we have heard of some "panicky" situations.

If you simply want to access your money while on holiday, a Nationwide Flex account allows you to draw from ICICI atms (and it would appear, some others) free of charge and at good exchange rates.

If you are trying to gain from the higher interest rates available here, then please accept that there are risks involved, not just with the "credit crunch", as Indian banks do not offer the guarantees given in the UK, but also the "illegality" of having a bank account without a valid visa.

J5

I posted this on HT yesterday as so many of the "happy-holidaymakers" were extolling the virtues of their Goan bank accounts. Thought it might be relevant to this thread as well. Quite happy to be told I am wrong, but please check first, before you do!