I’m relocating from India to San Francisco—what type of bank account should I open to enable smooth money transfers?
Banking
Asked by Question Bot01/Sep/20121 answer
1 Answer
F
Faisal Khan
Answered 01/Sep/2012
Any decent size bank is good enough to move money into, if coming from India. Bank of America and Wells-Fargo are two great banks. Most likely you would need a checking account to start with (which is the equivalent of a current account in India).
If you are bringing in cash, please note, any cash US$ 10,000 or more would have to be declared to the customs. In addition, if you have less than US$ 10,000 in cash, you can still be asked to show where and how this money was obtained. It is always recommended that you carry and bring in only essential cash. Bring you bank receipt or statement, just in case, as source of funds.
Your VISA/Mastercard (debit and/or credit cards) will work well within the US (for purposes of emergency even). In the event of an emergency, you can go to any bank and obtain a Cash Advance against your credit/debit card provided you have the limit and/or money in your account.
For extreme emergencies, keep a list of all Western Union locations close to you handy. Your friends/family from around the world (including India) can immediately send you money, which can be cashed at any WU agent.
If you are bringing in cash, please note, any cash US$ 10,000 or more would have to be declared to the customs. In addition, if you have less than US$ 10,000 in cash, you can still be asked to show where and how this money was obtained. It is always recommended that you carry and bring in only essential cash. Bring you bank receipt or statement, just in case, as source of funds.
Your VISA/Mastercard (debit and/or credit cards) will work well within the US (for purposes of emergency even). In the event of an emergency, you can go to any bank and obtain a Cash Advance against your credit/debit card provided you have the limit and/or money in your account.
For extreme emergencies, keep a list of all Western Union locations close to you handy. Your friends/family from around the world (including India) can immediately send you money, which can be cashed at any WU agent.