November 4, 2024

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Oromia bank

How to Open Foreign Currency Account at Oromia Bank?

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If you’re a non-resident Ethiopian or a foreign national of Ethiopian origin, opening a foreign currency account at Oromia Bank is a smart choice. It allows you to easily manage your finances and send money home through the Unite.et platform. Here’s what you need to know.

Requirements for Individuals

To open an account as an individual, follow these steps:

Submit your application: Fill out the application form to open your account.

Provide identification:

Valid passport: Use your passport for identification.

Identification card: If you are a non-resident Ethiopian, you can also use your national ID.

Make an initial deposit: Deposit at least 100 USD or its equivalent to activate your account.

Residence ID: Present a residence ID if you are a non-resident Ethiopian.

These steps ensure that you can manage your funds securely.

Requirements for Businesses

If you run a business and want to open an account, here’s what you need:

Submit your application: Complete the application form for businesses.

Provide registration documents:

Include your article and memorandum of association or similar documents.

Ensure these documents are registered and authenticated by the relevant authority.

Make an initial deposit: Like individuals, businesses must deposit at least 100 USD or equivalent.

Provide identification for signatories: Submit valid passports or identification cards for all authorized signatories.

This process helps businesses operate smoothly and comply with regulations.

Using Unite.et for Money Transfers

After opening your foreign currency account, sending money home is easy with unite.et:

Log in: Access your Unite.et account online.

Select amount: Choose how much money to send.

Enter recipient details: Fill in the recipient’s information in Ethiopia.

Confirm transfer: Follow the prompts to complete your transaction.

Unite.et offers a simple interface, making it quick to send money back home.

Final Words

Opening a foreign currency account at Oromia Bank is beneficial for non-resident Ethiopians and foreign nationals of Ethiopian origin. By meeting the requirements, you can effectively manage your finances and send money home through Unite.et. This strengthens your connection with loved ones in Ethiopia while meeting your financial needs.

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