Hi everyone,
I’m looking for some advice on opening a new salary account. I’m mostly looking for a reliable place to keep my savings, but I have one specific requirement that I’m struggling to figure out.
My company has a stock program based in the US. When those vest and I sell them, I’ll need to bring that money back to India. I’m really worried about getting hit with high exchange fees and "hidden" forex markups that eat into my savings.
What I'm looking for:
Simple Forex Process: Is there a bank that makes the USD-to-INR conversion easy and transparent? I'd prefer to handle the paperwork digitally rather than going to a branch.
Good App/Tech: Just looking for a clean, modern mobile banking experience.
Decent Credit Card: Nothing crazy, just a solid card with good rewards for a long-term user.
The Options:
I’ve looked at the big names like HDFC and ICICI, but I’ve also heard good things about the digital experience at IDFC or Kotak. Also, Standard Chartered had a desk at my office recently mentioning some forex benefits—does anyone have experience with them or HSBC for international stuff?
I’m not really sure if the "Foreign" banks are worth it for a regular user, or if I should just stick to the bigger Indian banks.
Would love to hear where you guys keep your salary and if anyone has had a good (or bad) experience with international transfers! Thanks in advance.