Business Advantage account that combines the features of a savings and checking account and allows you to keep most of your funds in a savings account (thus earning you interest) while ensuring payment on cheques presented against this combined account. Deposit interest rate on this account is 5.6% and requires an average daily balance requirement of ETB 100,000. There is a grace period of ten days to build up the balance to the required amount.
The initial deposit required to open this account is birr 5,000. It is a non-interest bearing account. We offer up to 50 free check writing privileges. There is a fee of birr 10 per checks if it exceeds the allowed number of checks. There is an average daily balance requirement of birr 100,000 or else a fee of birr 250 will apply.
A customer who has a checking and a savings account has the option of using the savings account as an overdraft protection towards the checking account. If a customer writes a check off of his/her checking account and it has an insufficient funds then the money can be transferred from the savings account to cover the differences. The consent of the customer is required. The system has to accommodate this feature by linking all the accounts of that particular customer.
There will be a fee of birr 20 per transaction for the service.
This feature has to be disclosed at the time of account opening.
24 Hour 7 Days Banking
At our bank we will be providing the following alternate multi-channel banking services for our customer conveniences.