Especially formulated keeping in mind the troubles faced by the NRIs and those who travel constantly, RCA current or savings account can be opened in India with an initial credit of USD 1,000 after producing valid passport and H1/L1/J1/H1-B visa.
After the account has been created the holder can make deposits and withdrawals from across the world. The account holder can also avail priviledges such as money transfers, demand draft issuance and delivery in India across 700 locations.
The money which is deposited in the account is converted to INR at current exchange rates.
Apart from all this, the account holder's family can also make debit transactions using the RCA. While the holder is provided with an International ATM or Debit card, checkbook, and full online access to the account, the nominees also get an ATM or Debit card and checkbook.
With RCA, Citibank promises a safe and easy way to make investments, transfer funds and meet financial commitments.
The bank has also introduced certain schemes through which 10-year minimum-balance waiver can be availed. In yet another offer, the bank is giving away a 5 gm silver coin on every account being opened.