Foreign Currency Deposit products

Allows you to make and receive payments in foreign currencies so you can take advantage of favorable exchange rates.

A Foreign Currency Deposit Account is a deposit account denominated in a currency other than Ethiopian Birr. Foreign Currency Deposit Accounts allow clients to receive, send and transact funds in supported foreign currencies.

Types, Features and Benefits

  • It is a deposit account with attractive interest rates, funds are non- repatriable and is available in both ETB and foreign currency (USD, GBP & EURO). It is designed to make our customers’ money more productive back home.


    • Interest rate on such accounts shall be LIBOR plus 4 percent for the minimum saving deposit rate set or subject to revision from time to time by the National Bank of Ethiopia.
    • Can use for his/her self, spouse and children education, medical and travel expenses abroad upon presentation of valid documents to confirm relationship with the account holder.
    • Money can neither be transferred from this account abroad nor from the local currency to any foreign currency.
  • It is operated by cheque book.
  • It can be opened with an initial deposit of US Dollar 100 or its equivalent.
  • Interest shall not be paid to a non-resident foreign currency   current account.
  • It is an interest bearing account with agreed maturity date.
  • The minimum maturity period is three months.
  • It is opened with an initial deposit of US Dollar 5,000 or its equivalent in any of the above stated currencies.
  • Interest on such accounts shall be payable only if they are maintained at least for the minimum period.
  • International Banking services (IBS) opens and maintains accounts denominated in foreign currency that provides the account holders privilege to instruct transfer of funds abroad from their account or make local payments in Birr as per updated NBE directives.
  • An account maintained in ETB and funds can be transferred abroad without the necessity of obtaining a foreign exchange permit. It is possible to make payment in foreign currency for travel and other payments on the basis of supporting documents and as per updated NBE directives.
  • The account is maintained in ETB and can only be operated in local currency unless foreign currency approval is obtained from the National Bank of Ethiopia. 

International Banking services (IBS) opens and maintains foreign currency accounts for eligible:

  • Exporters of goods & services, recipients of inward remittances from abroad,
  • Local merchants or entities licensed by the National Bank of Ethiopia to collect foreign currency cash notes for sale of goods and services, and
  • Merchants and/or entities licensed by the national bank of Ethiopia to collect credit card/ debit card /prepaid card /payments for goods and service they sale can open this account. It allows account holders to retain a percentage of the earnings in accordance with updated National Bank directives.

Eligible Entities

All eligible natural and legal persons not found in Mal Operation List by NBE

Did you want to enjoy with this account ?

Gadaa Bank has partnered with leading international operators to give you worldwide coverage and convenience, including


Ria Money transfer

Ria Money transfer
Exchange Rate