Checking / Current Accounts

A demand deposit account (DDA) primarily meant for individuals, businesses, firms, public enterprises, embassies etc in which funds deposited are payable on demand either in person or by presentation of a cheque / bank draft, direct debit, electronic fund transfer etc.

Benefits

• Assist and enhance business transactions of customers with numerous daily banking transactions
• Assist customers in depositing funds and also withdrawing as often as possible so long as account is in credit balance
• Help customer avail credit to enhance business & personal development
• Help customer maintain authentic accountability of business transactions

Our varieties of current accounts include:

• Salary Account
• Individual Current Account
• Joint Current Account
• Sole Proprietorship / Partnership Account
• Societies, Credit Unions, Religious Associations, Clubs & Association Account
• Corporate Account
• Public Sector Account
  1. State/Ministries/ Assembly
  2. State Agencies/ Parastatals/ City & Local Councils
  3. Embassies, Consulates & High Commissions of foreign countries
  4. Banks and other financial Institutions, Insurance companies etc

Salary Account

A current account meant for the salary of individuals in either the private or public sector

Features and Benefits

• Zero Minimum opening balance
• Zero Minimum operating balance
• Guarantee deposit of XOF 15.000
• Lodgment of cheques
• Access to debit cards
• Access to SMS/Internet Banking and Mobil Banking
• Access to credit facilities

Documents

• Stamped hand written application addressed to the director of salaries MINFI (for State Employees only)
• Attestation of effective presence at work …not older than 03 months.
• A recent copy of pay slip,
• Location plan of residence
• Duly Completed account opening form
• Identification – National Identity Card copy
• An Attestation of non-indebtedness ( for prospective clients coming from other banks)
• Resident permit (for immigrants in the private sector)
• Four passport size photographs

Individual / Joint Current Account

A current account meant for the business activities of individuals. Two or more individuals have the possibilities of operating a Joint account.

Features and Benefits

• Minimum opening balance of XOF 50.000
• Zero Minimum operating balance
• Guarantee deposit of XOF 15.000
• Lodgment of cheques
• Access to debit cards
• Access to SMS/Internet Banking and Mobil Banking
• Access to credit facilities

Documents

• Duly Completed account opening form
• Identification – National Identity Card of the individual or of the joint signatories
• Resident permit (for immigrants)
• Four passport size photographs
• Marriage Certificate (if married)
• Location plan of residence
• Initial deposit of XOF 50.000

Sole Proprietorship/Partnership current account

A current account meant for business activities of sole proprietorship and partnership companies.

Features/Benefits

• Minimum Opening Balance of XOF 450.000
• Zero Minimum operating balance
• Lodgment of cheques
• Guarantee deposit of XOF 50.000
• Access to Debit Card, SMS and Internet Banking
• Access to consumer credit facilities

 Documents

• Duly completed account opening form
• Identification of each partner/sole proprietor national ID
• Utility bill or plan of localization of office
• Signed right of set-off form
• Certificate of registration of the partnership/sole proprietorship
• Partnership agreement (if any) for partnership only
• Business license
• Tax contribution card
• Current financial statement

Societies, Clubs & Associations current account

A current account meant for transaction activities of societies, Clubs & Associations.

Features and Benefits

• Minimum opening balance of XOF 450.000
• Guarantee deposit of XOF 50.000
• Zero Minimum operating balance
• Lodgment of cheques
• Access to Internet Banking
• Access to consumer credit facilities

Documents

• Duly completed account opening form
• Identification of signatory (national ID, international passport)
• Articles and Memorandum of Association
• Status
• Utility bill or localization plan of business
• Signed right of set-off form
• Minutes of board meeting electing/appointing the Senior officers
• Certified of incorporation
• Religious association should include decree authorizing the religion & authorization of central administration office

Corporate current account

A current account meant for business transaction activities of Limited Liability and Public Quoted & Unquoted companies.

Features and Benefits

• Minimum opening balance of XOF 950.000 + guarantee deposit of XOF 50.000
• Zero Minimum operating balance
• Lodgment of cheques
• Access to Internet Banking
• Access to credit facilities

Documents

• Duly completed account opening form
• IDs of authorized signatories
• Status
• Minutes of BOD meeting appointing CEO, GM, AGM, CFO etc and specifying their powers and limits to open and run company’s account
• Four passport size photographs of each of the signatories
• Location plan of business
• Signed right of set-off form
• Business registration certificate
• Tax contribution card
• Balance sheet (min 2 years) for existing businesses

 Public sector current account

An account meant for business transaction activities of Government agencies (Ministries, Assembly etc) from the State, City and Local councils.

Features and Benefits

• Minimum opening balance of XOF 950.000
• Guarantee deposit of XOF 50.000
• Zero Minimum operating balance
• Lodgment of cheques
• Access to Internet Banking
• Access to credit facilities

Documents

• Duly completed account opening form
• IDs of signatories
• Copy of decree appointing GM and BOD / Copy of gazette or decree setting up the Parastatal/Agency
• Four passport size photographs of each of the signatories
• Letter requesting for account to be opened/board resolution
• Letter introducing signatories and their designation
• Localization plan
• Signed right of set-off form
• Any other document
• Copy of latest annual report and accounts or 12 month bank statement (for established businesses)

 Savings Accounts

Is an account that enables you to save money regularly and allows you instant cash withdrawals without notice or charge.

 Our varieties of Savings Accounts include:

Normal Saving Account:

An account that enables you to save money regularly and allows you instant cash withdrawals without notice or charge.

Product features

• Opening balance of XOF 50.000
• Minimum operating balance of XOF 25.000
• Interest at normal savings rate calculated daily on account closing balance and paid yearly.

Benefits

• Allows direct deposits and cash transfer from your current account into your savings account.
• Allows network transactions from any of our branches nationwide and without notice.
• Yearly interest payment on savings account balance.
• May serve as collateral for consumer loans

Eligibility

• Individuals
• Groups and Associations
• Churches
• Non Governmental Organizations – NGOs
• Employee of various establishments – Government, blue chip companies, embassies, SMEs etc

Documents

Valid means of Identification:

• National Identity Cards
• International Passport
• Address Verification
• Receipt/evidence of utility bill e.g. water, electricity, etc
• Alternative of utility bill can be a localization plan
• 4 passport size photographs
• Initial deposit of at least XOF 50.000

 Micro Save

Designed to encourage low-savers, the un-banked and the under-banked to have a savings account in a Commercial Bank.

Product features

• Opening & Operating balance of XOF 5.000
• Allows the saving of any amount
• Maximum operating balance of XOF 500.000 otherwise the account is migrated to the regular savings account.

Benefits

• Very low minimum opening balance
• Convenient way to save small amount
• Competitive interest rate

Eligibility

• low income & low profit earners
• the less educated
• financially/socially disadvantaged as listed below:
• Artisans
  1. Farmers
  2. Bus Drivers
  3. Laborers/Field worker
  4. Fishermen
  5. Petit Trader – Buyam Sellams
  6. Rural dwellers and communities where banking is still alien

Documents

• Valid means of Identification:
  • National Identity Cards
• Address Verification
  • Receipt/evidence of utility bill e.g. water, electricity, etc
  • Alternative of utility bill can be a localization plan
• 4 passport size photographs
• Initial deposit of XOF 5.000

 Edu Save

An education-specific savings account opened in the name of the beneficiary and designed to support education through primary, secondary school and university years.

Product features

• Opening & Operating balance of XOF 5.000
• Interest at normal interest rate calculated daily on account closing balance and paid annually
• Allows network transactions from any of our 13 branches nationwide

Benefits

• Very low minimum opening balance
• Convenient way to save small amounts for the child’s education
• Competitive interest rate

Eligibility

• Secondary School Students
• High School Students
• University Students
• Students in Tertiary Institutions
• Parents with minors who wish to save for their children’s future/education

Documents

a) Minors

• Valid Identification of Parents/Guardian:
  1. National Identity Cards
  2. International Passport
  3. Child’s birth certificate
• 4 passport size photographs each of Child and Parents
• Address Verification
  1. Receipt/evidence of utility bill e.g. water, electricity, etc
  2. Alternative of utility bill can be a localization plan
• Initial deposit of at least XOF 5.000

b) Students

• Valid Identification of Student:
  • National Identity Cards
  • International Passport
  • School ID card to prove he/she is a student
• 4 passport size photographs
• Initial deposit of at least XOF 5.000