Frisco, Texas, has increasingly found itself at the center of online conversations as every major business opening in the city draws scrutiny. The latest talk is the upcoming State Bank of India in California, which has triggered backlash on X, with some users claiming the bank would make it easier to send money from the U.S. to India.
An X user shared images related to the upcoming branch while claiming that its arrival was linked to the city’s large H-1B workforce. “Texas, pay attention.
DFW already has more H-1B approvals than any other Texas city and now the State Bank of India is in Frisco, advertising $0 transfer fees and competitive exchange rates.
This is an obvious front for remittances, making it easier to send the $38 BILLIONS of Texas money across the globe to India, every year.”
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One of the images attached to the post is an announcement for the new State Bank of India in California. According to the notice, the branch is under construction and is expected to open at 10402 Coit Road, Suite 400, Frisco, TX 75035, in Collin County. The renovation project is valued at approximately $560,000, spans about 2,507 square feet, and has an estimated completion date of September 2026. The project is also listed with the Texas Department of Licensing and Regulation (TDLR).
Another image compared the bank’s international money transfer services with those offered by major U.S. banks.
“When sending money internationally, State Bank of India (California) offers a highly cost-effective alternative to traditional Texas banks like Chase and Bank of America. While traditional banks charge a steep flat fee of $35 to $50 per outgoing international wire, State Bank of India (California) features a $0 fee for transfers made through their online portal and mobile app using SendMoneyEZ.
Furthermore, State Bank of India (California) provides highly competitive exchange rates with lower built-in margins, whereas traditional banks typically offer less favorable retail exchange rates that can increase the overall cost of the transfer.”
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The post drew a wave of reactions from other X users, many of whom criticized the bank’s expansion and the ease of sending money overseas.
One user wrote: “Once that money leaves it doesn’t come back.”
Another tagged U.S. Treasury Secretary Scott Bessent, writing:
“@SecScottBessent @USTreasury why are we going to have a state of India bank in Texas?? Let’s shut this down.”
A third user called for higher taxes on international transfers, posting:
“All remittance out of the country should be taxed at 50%.”
The discussion comes as Frisco continues to see a growing number of businesses catering to the community. The online criticism reflects polarized climate on immigration, remittances, and foreign-owned financial institutions in U.S.