Current Accounts

Demand Deposit Account, also called Current Account or Checking Account is an account which is opened and operated by literate customers and/or their legal agent.

Withdrawals from Current Account are usually made by cheque, which is issued by the bank to the Account Holder. However, withdrawal may also be made from Current account by written instruction of the account holder or for collection of bank service charges.

Underlying Features of the Product

  • Minimum balance to open this account is birr 500.00 for an individual and birr 1000.00 for organization.
  • Can be opened and/or operated by a legal agent in the name of principal against producing a power of attorney.
  • Can be operated jointly (AND or AND/OR)