The USA is a land of opportunities. People from across the world immigrate to the USA to build a better life in a new country. The Indian population in the USA is quite massive already. Once you get employed, you may want to accrue the benefits of earning income in a currency that is higher than INR.

For this purpose, you need NRI accounts, more so NRE accounts. If you cannot open this account before moving to the USA, you can open it online. If you are living and employed in the USA, you must be drawing income in US dollars. This salary gets deposited in your salary account offered by the employer in the country. However, you want to maintain the Indian account, and you wish to deposit your US dollars and benefit from the currency conversion.

For this purpose, you have NRE accounts. Following are the steps to follow –

Banks offering online services

For opening such accounts in the US, you need to be aware of banks offering online account opening services. Since NRE bank accounts are different from the resident accounts, where the deposits get made in foreign currencies, not all banks offer such a facility. You should research about banks that offer them. Currently, there are only a handful of Indian banks that provide them. Check for the NRE savings account interest rate levied and other such features.

Visit the NRI section

Once you have decided on the bank where you would like to open the account, visit their website, and find the NRI banking corner. This is where you will find a wide range of NRI bank accounts, features, fixed deposits, home loans, etc. offered by the bank. Locate the account section and go to open the NRE bank account section.

Account opening form

Make sure to fill the application form thoroughly. This is the basic form where you need to offer details such as name, account type, contact number of India and overseas, resident and office address, etc. You need to mention the USA or select them from the drop-down menu in the residence tab in the form. Some banks have unique forms for NRIs living in the US. So, you need to fill only the country-specific form.

Submission of documents

Once done with the application form, submit the relevant documents. Usually, provide photocopies of the Indian and US ID proofs, Indian and US address proofs, and a photocopy of your passport and US visa. All documents should be self-attested and must also visit the US embassy for getting the stamp as verification protocol.

Verification and account opening

The bank then verifies your application for opening NRE accounts. Most banks take up to two working days to open the account. However, it remains inactive until you deposit the minimum balance needed.