The 60-second version
Grenada bank exit needs zero balance NOC, XCD SWIFT to NRE, and Schedule FA for last FY before India tax residency.
Grenada uses XCD — wire to NRE before closing US or UK parallel account
Republic Bank Grenada / Grenada Co-operative Bank serve St. George's energy, finance, and hospitality payroll — obtain written closure after final credit.
XCD SWIFT to NRE needs FEMA Form A2 at Indian AD bank — retain FIRC for seven years.
Tax lane: tax residency guide for Grenada exit pattern.
Grenada bank wind-down
| Bank | Currency | Step |
|---|---|---|
| Republic Bank Grenada | XCD | Written closure |
| Grenada Co-operative Bank | XCD | Zero balance |
| SWIFT | XCD | FIRC trail |
| NRE | INR/USD | Receipt confirm |
Closure
Stop debits
Cancel cards.
Final payroll
Wait for credit.
XCD wire
SWIFT to NRE.
Closure NOC
Zero balance letter.
Schedule FA
Last FY account.
Flow
Grenada bank kit
- Passport.
- Account stmt.
- Closure NOC.
- SWIFT.
- Tax clearance.
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USD peg
Grenada XCD may peg to USD — confirm AD bank accepts XCD or converts before wire.
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FBAR?
US person — FinCEN 114 if aggregate > USD 10K.
Schedule FA?
Declare in last FY you held foreign account.
Brokerage?
Close custody before linked bank if held.
US parallel?
US bank guide if you also held US correspondent account.
TCS inbound?
Large SWIFT may attract TCS at AD bank.
Retention?
Keep NOC and SWIFT 7 years Indian + 10 years US/UK.
Your NRE account redesignation has a deadline.
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