Saving Account:

 

Savings account is an interest bearing deposit. Individuals & organizations can maintain saving accounts as long as they are legal and meet the procedural requirements set by the Bank.

  • To open saving account the applicant shall fulfill the following requirements:-
           Submit an ID Card, it can be driving license or passport or tax payer ID …etc     
          Recent one passport size photo    
          Giving specimen signatures on the Bank's specimen card

  

Additional information’s to be noted:-

 

  Saving  account can be opened with zero balance

  Saving account can be opened with or without pass book  

  The nature of the account can be ‘ interest bearing’ or ‘non interest bearing’ according to the applicants’ interest

  Interest calculated on every month against daily minimum balance remained in the account

  Saving account can be a Joint account, joint  account can be treated as “and account” or “and /or account”
  An individual can also open a Saving account in the name of the third party  that is in the form of ‘for account of somebody'
  ►Parents or guardians can open a minor account to a person who has not attained eighteen years of age.  Such account is to be operated by one of  the     parents (father or mother) or guardians against birth certificate of the minor, marriage certificate(applicable to parents), a letter of appointment from       court(applicable to guardian)
  Visually impaired individuals can also open saving account through thumbprint. However, the customer shall bring a person who will             witness the opening process and for any withdrawal or deposit
  Bed ridden customers can withdraw from their account, the Branch Manager may assign  Customer Service  Official and an auditor in the       presence of an outsider witness at their home or at hospital
  Under normal circumstances, third parties shall not be allowed to withdraw from saving account of another   customer unless they                 obtained duly registered power of attorney or a court order
  An individual can open such account in the name of the ‘principal’ upon presentation of a power of attorney that explicitly allows him/her       to do so

                                                                                                Download Saving Account Procedures

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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