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Thanks for your response.jojo001 wrote: ↑Mon Jan 13, 2020 7:36 amIs there any particular reason to convert the resident account to NRO.
It's far easier to open a new NRE/NRO account with another bank and transfer your funds from the older account to the new NRO account.
Pl
All this can be done while in the UK and close down the Old account at your convenience.
This will not cause any issues as long as you are not transferring more than a few lakhs .
Would suggest that you change all the mutual funds to nre status via a nre account as soon as possible.srsw wrote: ↑Mon Jan 13, 2020 7:48 amThanks for your response.jojo001 wrote: ↑Mon Jan 13, 2020 7:36 amIs there any particular reason to convert the resident account to NRO.
It's far easier to open a new NRE/NRO account with another bank and transfer your funds from the older account to the new NRO account.
Pl
All this can be done while in the UK and close down the Old account at your convenience.
This will not cause any issues as long as you are not transferring more than a few lakhs .
I have LIC policy premium automatic payments, mutual funds linked to existing account, PPF account... These are all in place for many years when I was back in India, so thinking it would be easy to convert existing accounts.