Four Benefits of Opening a Seafarer’s Bank Account

A sailor’s life is one of constant movement. You have to spend many months at sea, moving from port to port. Any settled life can be a bit of a pipedream. There are also some practical difficulties involved in this kind of itinerant existence. When you are continually moving from one place to another, it’s hard to carry out financial transactions that are so essential to yourself and your family. You still have to pay your bills, invest money, deposit your salary and so on.

So how do you handle the financial issues of being a sailor? The best solution for this is a Seafarer Account or a Marines Account. This is an NRI Account for seafarers, specially designed to make the lives of sailors easier. So what is Seafarer Account, and what are the benefits of Seafarer Account? Let’s look at this kind of account and how it can help make your life a lot easier.

Four benefits of an NRI Account for Sailors

HDFC Bank Seafarer’s Bank Account is ideal for sailors who spend many months at sea wandering from port to port. There are four benefits of NRI Account for seafarers:

  • Exclusive Benefits: There are unique benefits of Marines Account meant for the needs of sailors. One of the benefits of NRI Account for Seafarers is that it’s a Zero Balance Account, so you don’t need to worry about maintaining a minimum balance in your account. Another is that you get preferential interest rates on regular salary credits. So if you have a job that pays regularly, you can get higher interest rates. The on-the-spot account opening facility enables you to open the Seafarer Account quickly and easily, whenever you have the time. There also a Free Mandate Holder facility.
  • Higher Withdrawal and CashBack Benefits: While you are travelling on the high seas, you may need more cash than usual to meet your needs since ATMs are not available on ships, or in some of the ports your vessel may dock. One of the advantages of Seafarer Account is that you can make higher withdrawals of Rs 1 lakh per day, and Rs 5 lakh per day for shopping transactions. What’s more, you get a Debit Card free of cost, CashBack facility of Rs 1 for every Rs 100, and unlimited ATM transactions in India!
  • Unmatched Security Cover and Insurance Benefits: A sailor’s job involves a lot of risks, so any kind of insurance cover is welcome. One of the advantages of Marines Account is that you get protection for your family in the case of any untoward incident. The HDFC Bank Seafarer’s Account provides Accidental Death cover of up to Rs 10 lakh, and International Air Coverage of Rs 1 crore. Plus, there’s Fire and Burglary cover, and Rs 2 lakh cover for the loss of checked baggage. Other features include Zero Fraud Liability for up to 30 days and International Mobile Alerts
  • Additional Free Privileges: These privileges put some icing on the Seafarer Account cake. They include ATM/ Debit Card for mandates, payable-at-par chequebooks, NetBanking, 24x7 banking, Monthly Account Statements, and secure inter-bank money transfer through NEFT and RTGS.

For sailors,  being on the move means there are several practical difficulties, especially financial ones.  You have to spend a lot of time on the ship, moving always, and it can be challenging to maintain a healthy personal and family life. There are also several practical difficulties, especially financial ones. The HDFC Bank Seafarer’s Account will be beneficial in doing away with those financial concerns. With this account, you can pay your bills, deposit your money, transfer funds, and invest quickly and easily.

Click here to get started with your mariner NRI Account.

Know more about the NRI Account benefits here.

Travelling to India soon? Know more about currency exchange in India here.

* Terms and conditions apply. In case your salary/remittance is not credited for more than 6 months, then the account would be converted into a regular account. Zero fraud liability upto 30 days prior to reporting the card loss in case of any fraudulent Point of Sale transactions on the Debit Card. 1 Cr. Air coverage is on purchase of air tickets by HDFC Bank Seafarer Debit Card. Up to Rs. 750 per month. For more details, please visit here.

The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.