Premium visa, bank account

Member since 26 July 2024

iceberg1Member26 July 2024 18:52:16

Hello! Does anyone have an experience of opening a bank account here on premium visa recently? I'd like to know which bank (branch) is the easiest to open an account. I don't even need the account myself really, but it's a new condition for premium visa.

Most people suggest ABSA, but my experience there has been very frustrating and time consuming.

In the Grand Baie branch their requirements are insane.

1) For proof of address bring ORIGINAL owner ID with utility bill. They suggest me to come there together with the owner (seriously?). The real estate agent has said that the bill comes under society name (?!).

2) Bring nonexistent "original" premium visa and completely refuse to accept the normal visa. This took me three visits to immigration office (takes almost an hour driving one way!) just to get the final response that they won't provide me anything new.

In the Ebene branch I've been told that utility bill is absolutely necessary also. But the main problem is that they need me to have a residence permit!

Online application can't be processed too.

So, immigration gives two months to open an account. It took almost one month to find a property and move in, then I had to left for almost two weeks. So now I have like 2-2.5 weeks to open it. Not sure what will happen if it won't be opened.

traciwoodley Active member

Member since 20 June 2022

traciwoodleyActive member27 July 2024 15:56:16

They did the same with us for the Retirement Visa - more than 3 weeks to open a Absa account and we eventually gave up.聽 I don't see the point in having to have a Mauritian bank account either way - Premium or Retirement. MCB - they want your DNA before they approve your account - that was another messing us around situation.聽 Coming from the UK, it was in no ways beneficial for us to have a Mauritian bank account whatsoever as we were bring foreign currency into the Country anyways. And MCB wanted documents from our UK Bank which you cannot get online, or emailed or anything like that (for security reasons) and therefore have to be in the UK to collect this document or sign for it. (we were not pre-warned about this). We eventually decided against the move, as everything was taking very long and was just too complicated and left Mauritius, which is such a pity and it was very sad.聽

Tookays Serial expat

Member since 14 December 2022

TookaysSerial expat27 July 2024 16:02:25

297

This sounds ridiculous.

It is such a shame -- the EDB says it should be easy after getting the approval in principle for the retirement visa, and the banks make it difficult! Please feedback to the EDB, and show the EDB website to the banks.

iceberg1 Member

Member since 26 July 2024

iceberg1Member16 August 2024 13:15:43

Just want to share my experience with ABC bank here. The most insane requirements I've ever seen.

They asked about my income first and sent me to the private banking department. There they told me that it's impossible to open standard account with my income and I have to use package according to my income (I told them $10k/month). It doesn't matter if I need this package or not. This package requires to freeze $200k on the deposit there + a crazy list of documents.

BTW, it sounds weird to have free 200k for such a level of income (she said this is for 200-500k Rs).

I've never agreed to participate in this madness for some tourist visa. Amount of wasted time is already insane. So we just decided to leave, very annoyed. Initially I was going to apply for residence permit via investment next year. Now this will never happen for sure.

karibi Active member

Member since 28 November 2023

karibiActive member16 August 2024 14:28:00

This was actually for a retirement visa. We opened it on island with AfrAsia Bank () before we even had our permit. There was some paperwork to jump through. We have opened up a fixed term GBP deposit account, circa 4.6% to 4.8% depending on the term. A local MUR account for which we have a debit card. We also enquired about a credit card, and they suggested that they would be happy to consider such a request, but we didn't do it. That one is for the next vacation. Creadit cards are available in MUR/USD/Euro but not Sterling. As far as I can tell there was no minimum income/deposit and they seem to respond to emails. Their online banking is not the most comprehensive but it is adequate. As far as I can tell I have not yet seen any significant bank changes. If anyone needs a personal contact email address just PM me.