Apply In Person:

1. Application form for opening a new bank account in Ethiopia is available in the respective banks.
2. Ministry of Finance and Economic Development has control over all banks in Ethiopia contact link
3. Applicants must fill in all the necessary details in the application form.
4. Applicant must make sure to carry documents that are listed under the “Required Documents” section of this page (Both photocopies and originals).
5. Applicant must attach the photocopies of the documents (whichever is necessary) along with the application form.
6. A particular amount has to be deposited for opening a new bank account. The amount depends on the bank and the type of deposit chosen by the customer.
7. This procedure can be completed within two weeks and the applicant can collect their bank passbook by visiting their banks or the passbook will be sent to the applicant via post.

• Application forms properly filled and signed by the applicant.
• For Ethiopians or foreign nationals of Ethiopian origin individuals, valid passport and/or identification card.
• For businesses, Certificates of ownership entitlement for the organization and/or Articles and Memorandum of Association.
• A Duly Signed Account Opening form.
• Two specimen signature card.
• Two passport Photos.
• Identification card i.e, a national ID, Voters Card or passport.
• Utility bill for resident.
  

MINISTRY OF FINANCE ETHIOPIA
Addis Ababa, Ethiopia
Email - infopr@mofed.gov.et
Phone - + 251-111-552-015
Contact link

• Applicant must be 18 years and above.
• There are some new systems such as a bank account for a kid and saving bank account for education to be used in the future in different banks of Ethiopia. The requirements vary depending on the bank.
  

The deposit amount depends upon the bank and type of account chosen by the applicant.

Valid until the customer maintains minimum deposit amount in the bank.

Please attach documents that might help. E.g. links

Please attach sample completed documents that would help other people.

Two weeks.

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

To open an account with a New Bank Account you will need:

• A current billing receipt that is not more than three months old {like, Water co-operation bill or a Lulu bill with your address boldly written on it}.
• I.D Card (This could be your national I.D card, driver's License or even a voter's registration I.D card to confirm your citizenship)
• A minimum of 2000 Birr.
  

• Full name of applicant
• Sex, Age and marital status
• Nationality
• Education background
• Risk assessment form
• Resident permit in case of foreigner.
  

• All Ethiopian nationals and foreign nationals of Ethiopian origins living and working abroad outside Ethiopia for more than one year are free to open up new Accounts in the bank i.e. a non-resident and holder of a valid Ethiopian passport for Ethiopian Nationals and identification card for Non-Resident Foreign Nationals of Ethiopian Origin (attesting that s/he is a foreign national of Ethiopian origin).
• Business entities owned by non- resident Ethiopians and located outside the Ethiopian territory for more than one year. Opening a new Bank account in Ethiopia is easy as long as you are an Ethiopian and you have a valid Ethiopian document. If you are a foreigner, you will need to poses a Resident permit.
• Many people at times go into banks to open accounts but the majority always have this problem of address verification by the bank. Not that they don't provide good details but it’s just that.
  

Persons residing abroad can open the account in person or by post in his/her name.

• Applicants who could not be physically present to open the account in the domestic banks can use the Ethiopian Embassies, Correspondent Banks or nearby remittance service providers to prove their identities.
• Opening of a foreign currency account by Power of Attorney holders is not allowed. However, Power of Attorney holders are allowed to withdraw from these accounts provided that the Power of Attorney explicitly empowers them to operate these accounts.
• An individual may open current account in only one of the domestic banks whereas he/she may open fixed deposit accounts in more than one bank.
  

Please provide other uses of the document

External link

Diaspora Bank Account
This is a deposit account targeted for Ethiopians in Diaspora to open and use foreign currency account at home country.

• Individuals and companies can open this account.
• This account can serve as collateral to get credit in local currency from domestic banks in line with the opening banks credit policy.
  

Deposit is made in one or more of the following currencies:

• US Dollar
• Pound Sterling
• Euro

• Deposits that are made in other convertible currencies such as Canadian Dollar, Saudi Riyal, Japanese Yen, Australian Dollar and UAE Dirham shall be converted to any of the above stated three currencies at a spot exchange rate based on the preference of the account opener.
• Interest rate on such accounts shall be double of the minimum saving deposit rate set by the National Bank of Ethiopia, currently it is 10%.
• Money can neither be transferred from this account abroad nor from the local currency to any foreign currency.