Foreign currency accounts can be opened by eligible individuals and entities upon the fulfillment of the requirements applicable for specific accounts.
Eligible customers can choose to setup the accounts in USD, GBP or Euros. While an initial cash deposit of $/€/₤ 100 is required, additional funds can be deposited in foreign currency if it has been declared by customs, if funds are returned from travel expense or cheque drawn from non-resident foreign currency and transferable accounts or other FCY Accounts.
These accounts can be operated in person or through the bank state of the art e-channel services or electronic payment modes.
Some of the bank FCY account gives Prestige for the account holders to earn attractive interest rate on the deposit balance. For a better interest rate, the account holder can deposit money under time deposit, a minimum of USD 5000 or its equivalent in other FCY for at least three months’ period.
FDI Companies, International Organizations, Embassies, and Foreign NGOs are eligible to open this accounts. This account can be opened in USD, EUR, GBP or other acceptable tradeable foreign currency by NBE. Holders of FCY Accounts for Foreign Companies, International Organizations, Embassies and Foreign NGOs may use the account for all foreign payments without any restriction.
This account is entitled for eligible Non Resident Ethiopian Nationals working and living abroad for more than one year Non Resident Foreign Nationals but Ethiopian Origin.
Resident of Ethiopians: Individuals, Not for profit organizations, foreign individual employees of Foreign Entities (FDI companies, Embassies, International Organization, Foreign NGO’s)
The balance in this account is kept in foreign currency. A deposit to such account can be made from a transfer in hard currency, foreign cash notes, and transfer from non- resident account. Holders of this account could draw foreign currency for travel purposes, transfers abroad for service payments, etc. A payment in Birr from this account is also possible.
It is an account opened for eligible non – residents to facilitate the payments (both in local and foreign currency) by Embassies, foreign business community, international organizations and foreign NGO’s. This account is non-interest-bearing checking account. The balance in this account is kept in foreign currency. A deposit to such account can be made from a transfer in hard currency, foreign cash notes, and a check drawn on a non- resident account. Holders of this account could draw foreign currency for travel purposes for their expatriate missions, transfers abroad, etc. A payment in Birr from this account is also possible.
This is an account dedicated for Exporter of Goods and Services as well as Merchants and /or Entities licensed by NBE to collect cash notes and credit card/debit card/ prepaid card/ for the goods and service they sell. The balance in this account can be used without restriction by the account holder.
