Information to Ethiopians in the Diaspora
 

Ethiopians living abroad can open:

a) A Checking Account: It is a non-interest bearing account. Withdrawals from the account are unlimited. Monthly bank statement will be sent to customers regularly.

b) A Savings Account: Deposits and withdrawals are made using the Bank's form. It is an interest bearing account. Deposits and withdrawals are shown in a saving passbook that is kept with the customer. This type of account may not be convenient for an account holder living abroad unless he/she arranges the account to be operated through another person holding power of attorney.

c) A Special Saving Account: It can be operated using special check. It is an interest bearing account. Saving passbook is not required for special saving account but monthly bank statements will be sent regularly to the account holder. The frequency of withdrawals from the account are limited, say, up to four times per month.

d) A Non-Interest Bearing Account in Foreign Currency will, in future, be allowed for Ethiopians living abroad. The terms and conditions under which such an account is to be allowed is yet to be prepared by the supervising body, National Bank of Ethiopia.