Demand  Account

 

Demand  Account (current ) is a non-interest bearing account opened or operated by literate customers only,  whereby, the operation is normally made by a cheque, which is issued by the Bank to the account holder.

The main features of current account is that there is neither restriction on the amount of funds to be withdrawn  at a time nor advance notice is required as long as there are sufficient funds in the account to cover the payment.

 

To open Demand (Current or Checking ) account the applicant shall fulfill the following requirements:-

 

          Submit an ID Card, it can be driving license or passport or tax payer ID …etc    
           Renewed trade  license, registration certificate, tax identification certificate          
              ►One passport size photo of the applicant or Managing Director  
              ►Article & memorandum of association, an authorization letter to open an account, signatory assignment letter and any supporting letter by                     the concerned organ
              ►Giving specimen signatures on the Bank’s specimen card 
              ►Filling the check requisition form of the Bank

  

Additional information to be noted:-

 

             ►The Bank may, however, authorize opening of an account with out trade license if convinced or considered genuine Issuing a dishonored  check due to    insufficient fund is strictly prohibited
             ►Deposit and withdrawal can made through check, CPO ,written application or other electronic media that will be introduced soon.
                                                                                                                        Download this procedure

Money Transfer

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Currency Rate Bank of Abyssinia

  Exchange Rate 

  Date Aug. 20, 2018

 

Currency Buying Selling
1 USD

27.4432

27.9921
1 EUR

31.2551

 31.8802
1 GBP 33.3264  33.9929
1 AED  6.7609  6.8961
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