Foreign Currency Accounts
Foreign Currency Accounts
Welcome to our bank’s Foreign Currency Account (FCY) page! We offer Four types of FCY accounts tailored to meet your specific needs. It is a foreign currency demand account opened by individual or organization who have NBE permit where withdrawal from this account is allowed either in Birr or hard currency.
FCY Savings Account
- Designed for Ethiopian residents seeking to save in foreign currency.
- Requires a minimal initial deposit of $50, making it accessible to a wide range of savers.
- Provides a convenient option for individuals looking to safeguard their savings with ease.
- Tailored to meet the specific needs of those interested in foreign currency savings.
Diaspora Account
- Exclusively tailored for non-resident Ethiopians of Ethiopian origin or nationality.
- Specifically for individuals with a valid work permit or residence ID abroad.
- Customized to meet the unique banking needs of the Ethiopian diaspora.
- Operable as a Current Account with a $100 initial balance requirement or as a Fixed Time Deposit with a $5000 initial deposit requirement.
Retention Account
- Tailored to meet the specific needs of service-oriented businesses and exporters
- Designed for eligible individuals or companies engaged in service exports
- Suitable for employment agencies and exporters of goods
- Ideal for individuals receiving regular inward remittances
FCY Savings Account
- Designed for Ethiopian residents seeking to save in foreign currency.
- Requires a minimal initial deposit of $50, making it accessible to a wide range of savers.
- Provides a convenient option for individuals looking to safeguard their savings with ease.
- Tailored to meet the specific needs of those interested in foreign currency savings.
To learn more about each account and the documents required for account opening, please visit our branch or contact our customer service team. We’re here to assist you in making the most of your foreign currency transactions.