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Demand Deposit Account, also called Current Account or Checking Account is an account which is opened and operated by literate customers and/or their legal agent.
Withdrawals from Current Account are usually made by cheque, which is issued by the bank to the Account Holder. However, withdrawal may also be made from Current account by written instruction of the account holder or for collection of bank service charges.
To open demand deposit account birr 500 for individuals and birr 1,000 for company is required in addition to renewed id, driving license, passport or trade license for individuals and article and memorandum of association for companies and associations.
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