Yes, same process.

I prefill the forms and keep for BOB. There is option of pre-booking price on CCIL too. Bank then applies a spread on top.

No options allowed.

No costs, it is free.

No minimums, but it 10k USD min account value is preferable. Below that doesn’t make much sense as transaction costs involved are a lot.

Thank you for your detailed reply,

A JTWROS (Joint tenancy with rights of survivorship) is a little better to avoid estate tax withholding as the money will not be held up for a IRS tax audit like in an individual account if a/c owner passes away.

For transfer, banks like BOB / SBI are little cheaper though you have to go in person and fill 3 forms. you will have to wait for a while (as import/export Fx gets priority owing to the frequency/size of transaction) they speak to the dealer & give a concession on the TT rack rate depending on the relationship (years/transfer amt etc). Its worth only if you are doing above > 3-4 L as its otherwise a painful process waiting, filling forms etc. PSU banks have lowest rate, Private banks are in the middle, Foreign banks are more expensive (except DBS India but sadly it doesnt allow capital acct remittance S0001).

And yes, Interactive, Schwab & TDA are the best/safest bets for investors aspiring to build a decent sized PF.

Hi Varun, it’s been a while since you wrote this post. I wanted to know if you have now tried to transfer the funds back from TDA to your Indian bank account. Curious if it’s hassle-free. Thanks!