Banking Abroad for Indian Students Made Easy

Banking Abroad for Indian Students

Hey, future global scholar! So, you're packing your bags, dreams, and probably a few too many snacks for your study abroad adventure. Exciting, right? But wait, have you thought about how you'll manage your money while you're there?

Don't worry; we've got you covered! Choosing the right bank account is like finding the perfect study buddy – it makes life so much easier. Let's break down everything you need to know about banking abroad for Indian students:

Why a Local Bank Account is Your Study Abroad BFF

Opening a bank account in your country of study is an ABSOLUTE MUST. Ideally, it should be one of the first things you should do. Here are a few essential reasons why: 

• Get Paid: Scholarships and part-time jobs – your earnings land right in your account.

• Build Your Financial Reputation: Establish a credit history, which is super helpful for future loans or rentals. 

• Hassle-free expense management: Carrying cash around is always a danger, but it is not advisable to spend on an Indian Forex Card as well. If you misplace your Forex Card, it can take 2-3 weeks to get it replaced, which is why using your local bank account is imperative. 

Checking vs. Savings: Which Account is Your Perfect Match?

• Checking: Your go-to for everyday spending – think bills, groceries, and ATM withdrawals.

• Savings: The place to stash your cash and watch it grow with interest. It's like your piggy bank, except that it’s online!

FRR Forex Tip: What to Look For Banking Abroad For Indian Students

Start your research early, and don't hesitate to reach out to banks directly with any questions. 

1. Zero Fees: Nobody likes hidden charges. Look for student accounts with low or no monthly, ATM, or international transaction fees.

2. Online Banking & Mobile App: Want to manage your money on the go? Choose a bank with a user-friendly app and online platform.

3. Locations, Locations, Locations: Pick a bank with branches and ATMs near your campus and a nationwide presence. 

4. Bonus Perks: Some banks offer awesome extras like travel insurance or student discounts. Look for them!

5. Customer Support: Questions or problems? Make sure the bank has excellent customer support, preferably with someone who speaks your language.

We've got your back with super convenient and affordable remittance services – check us out!

Top Banks for Indian Students (Our Picks):

We've done some digging for you! Check out these popular options country-wise:

USA:

• Bank of America

• JPMorgan Chase 

• PNC Bank 

UK: 

• Barclays 

• NatWest 

• Lloyd’s 

• HSBC 

Canada:

• Canadian Imperial Bank of Commerce 

• Bank of Nova Scotia 

• Royal Bank of Canada 

Germany (for Blocked Accounts): 

• Expatrio 

• Fintiba 

• Deutsche Bank

Singapore: 

• DBS Bank 

• Oversea-Chinese Banking Corporation (OCBC)

• HSBC 

Your Study Abroad Adventure Starts Now!

Choosing the right bank account is just the first step. With a bit of preparation, you'll be a financial whiz in no time!

Need a Helping Hand? 

FRR Forex is here for you! We specialize in foreign exchange and can guide you through the process of sending money abroad. Your financial well-being is our priority.

So, pack your bags, grab your passport, and get ready to conquer the world (and your finances)!