I’m sure I’m not the only one facing this challenge so I’d like to hear what others have to say.
I have always funded my Vested Account from my US bank account. I was looking to withdraw funds but I didn’t see any option to choose a country other than India.
After checking with support, I found out that as per the compliance policy of DriveWealth (broker-partner), withdrawals can be initiated only to the country where the client is a resident of or the country where the client works. Since, in your case both the residency as well as employment country is India, you will be able to withdraw funds only to your bank account in India.
I found this to be double standards where Vested will accept funds from US but not return them there!
Although it is the compliance policy of DriveWealth (broker-partner) which limits the withdrawal only to the client’s country of residence or the country of employment; It’s Vested’s job to vet such policies and ensure they don’t work against their customers!
Apparently Vested currently working on a new withdrawal solution which will bring in more flexibility for withdrawals. I can only hope that this solution doesn’t entail incurring currency exchange losses and comes to life sooner.