Demand Deposit Account (current or checking account) is a non-interest bearing account and is opened or operated by literate customers only.
Demand deposit account can be opened and/or operated by a legal agent in the name of principal, against producing a power of attorney, which shall be attested by the bank’s legal service department or area offices or branch managers, as the case may be.
The minimum amount required by the bank to open a current account for individuals or individual trader is birr 500 and for others birr 1000.
Clik here to read about the documents required to open a local currency accounts.
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