Hi
I am looking to invest in the US stocks using IndMoney. They are asking for a savings account in Federal Bank. Does anyone have previous experience using this bank and what is the minimum account balance requirements for this bank? Any advantages of having a savings account with this Bank?
INDMoney themselves will open an account for you with Federal Bank through the app. The account is mainly used when you wish to transfer funds into the US stock trading account and back.
You place a request for fund transfer on the INDMoney app, the funds will first go into the Federal bank account and from there it will get transferred to the US account.
There is no minimum balance requirements
