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 Mar 29, 2017

 

Currency Buying Selling
1 USD

 

22.7411

 

23.1959
1 Euro

 

24.6832

 

25.1769
1 Pound 28.5742 29.1457

 

 

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