Banking and Bureaucracy in Cohorts & Cahoots

On the subject of bureaucracy I forgot to mention what the big mother (as Seldon, my Axis banking personal advisor calls the Bank of India) has decreed for future banking in India.  You see I had opened an account here  2 years ago and when I know I am coming over here and have enough funds in UK I deposit the money to cover my rent and living expenses whilst in India. 

Easy enough to transfer money into the country as India wants the hard stuff so they offered a slightly better interest rate than that of the UK. Mind you, I could never take advantage of it as I don’t have funds to earn interest – but heh, that’s not the point really.

Anyway, yesterday I decided to go to the bank to check out my status for transferring money and to get some cash.  I then discover that, apparently as I am not an Indian resident I am no longer allowed an account and it should have been closed.

Now I had an inkling of this as I had received an email earlier in the year asking me for a copy of my visa.  Another of the customer service staff at the bank, Chitra had sent it and then confirmed all was OK . Now my old business visa actually expired in October but my new one is open until November 2013 so I thought I would be OK but no – big mother has now decreed that no foreigners,  unless they have resident status, can have an account here.

So now I will end up paying even more to get money out what with bank charges for ATM machines as well as the charges applied by my own bank for each transaction. However, for this season, Seldon rectified this, advised me that I can keep the account open, transfer money and spend it as long as I close it just before I leave and withdraw the remaining cash as after that I will lose the account. This has all come about apparently as the Bank of India doesn’t want us to take money out of India. But as the currency here is a soft one, I can’t do that anyway!!!! 


About travell1ngthroughl1fe

I am a fun-loving person who goes with the flow and travels through life most of the time though sometimes I have to be responsible when others try to get me on their track! Most of the time though people tell me I am barking mad! hahahaha! Life is short but oh so sweet so I believe in looking out for the bright side of life and I can always find a positive in everything! Half-empty glasses are not for me. Negativity is an ill I want to cure in everyone. Only after you heal your own soul can you help to really heal the world. So when you need help, ask for it and where it is offered, gratefully accept it as a gift.
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