Foreign Currency Deposit Accounts

Foreign Currency products and services

Foreign Currency Deposit Accounts

Localize your currency  

 Funnel your foreign currency through BoA and get diversified products and services 

Non-Resident Accounts

Designated for international organizations, foreign nationals, Non-Governmental Organizations (NGOs), and staff members of foreign embassies. The non-resident accounts are denominated in foreign currency (FCY) and local currency (LCY) currency whose source of deposit is in FCY. 

An account maintained in foreign currency and funds can be transferred abroad without the necessity of obtaining a foreign exchange permit. 

An account maintained in ETB and funds can be transferred abroad without the necessity of obtaining a foreign exchange permit. 

The account is maintained in ETB and can only be operated in local currency unless foreign currency approval is obtained from the National Bank of Ethiopia.  

Non-Diaspora Accounts

Save at home while working abroad

Your hard work never goes unnoticed. BoA gives you the opportunity to save in your country while living and working abroad.

This is a foreign currency-denominated current account where the source of deposit is only in foreign currency. Withdrawal from this account can be made in either ETB or foreign currency. Withdrawal by cheque is accepted.  

An interest-bearing Birr denominated account which takes a form of saving deposit where the Source of the deposit is foreign currency. It can only be used for local payments.  

This is an interest bearing a foreign currency-denominated account time deposit with an agreed maturity date.

Start building your future home now / Your future life starts here 

Your future home is waiting for you. Start saving with BoA now.  

This interest-bearing account on which the source of deposit is foreign currency, allows you to start saving for your home and is used by residential house seekers as a way to have an early start on their home.  

Foreign Exchange Retention Accounts

Exporters of goods & services, recipients of inward remittances from abroad, local merchants or entities licensed by the National Bank of Ethiopia to collect foreign currency cash notes for sale of goods and services, and merchants and/or entities licensed by the national bank of Ethiopia to collect credit card/ debit card /prepaid card /payments for goods and service they sale can open this account. It allows account holders to retain a percentage of the earnings in accordance with National Bank directives.

Foreign Cash sale & Purchase service

  • We purchase convertible foreign currency cash notes
  • We sell foreign currency cash notes to travelers

 

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