Open a Bank Account in India
Planning your move to India? Here is everything you need to know about open a bank account for digital nomads and expats in 2026.
India's digital payment revolution over the last decade has been nothing short of miraculous.
- UPI (Unified Payments Interface): India runs on UPI. It allows instant, free transfers via QR codes. Even a street vendor selling chai for 10 rupees accepts UPI.
- The Foreigner Lockout: Historically, you needed an Indian bank account (which requires residency and an Aadhaar card) to use UPI (via apps like Google Pay or PhonePe). This locked tourists out.
- The Solution (Cheq/Fave): In 2023/2024, India finally allowed foreign tourists from G20 nations to use UPI via specific prepaid wallets (like the Cheq app), where you load money using your foreign credit card and then scan UPI codes locally. This is a game-changer for nomads.
- The PAN Card: The Permanent Account Number is your tax ID. If you receive local income or open a local bank account, you must have one.
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