Corporate Current Account
- Unfetter access to your funds; no limitation to number of withdrawals.
- Allows for cheque discounting of confirmed drafts and issuance of third party cheques (VALID FOR CLEARING).
- It allows accessibility to all EBG loan products
- No limit to withdrawals
- No minimum operating balance required
- COT is charged at N5/millon
- Cheque discounting / purchase of confirmed drafts (terms & condition apply)
- Issuance of cheques to 3rd parties. Cheques are VALID FOR CLEARING
- Opening balance of 50,000.00 Cedis
- All Small and Medium business registered with the Corporate Affairs Commission
- Unincorporated businesses.
How to Open Your Corporate Current Account
The process of opening account with the bank starts with customer request made to the bank through our Relation Managers/Account Officers in our branches. These officers initiate the account opening process upon receipt of appropriate documentation.
Requirement for account opening are:
- Board resolution to open bank account. (For limited liability companies)
- Duly Completed account opening form
- 2 Duly Completed signature cards. (To be provided)
- 2 (two) Passport photographs of each of the authorized signatories, stating the name behind.
- Valid means of ID for each signatory to the account (Driver's license, National ID or International passport)
- Copy of certificate of incorporation and Registration.
- Certified true copy of Memorandum and Article of Association.
- Certified true copy of Form C.O.7 or C.A.C2-3 i.e. (Particulars of Directors) and form C.O.2(i.e. Allotment of shares)
- Certificate of commencement of Business (where Applicable)
- Copy of residence or work permit of all foreign signatories (if any)
- Utility Bill
This is a COT-free current account designed to minimize transaction cost of customers (corporate and individual) with high turnover activity on their accounts.
- Zero COT on all withdrawals provided the minimum balance is maintained
- Minimum opening and operating balance of 100,000.00 Cedis
- Default COT charge is 3/mille if operating balance is eroded
- 0.25/ mille based on average deposit balance and turnover in excess of C50m
- Withdrawal is restricted to maximum of 8 times*
- Penalty for more thaCedis 8 withdrawals is loss COT bonus
- Non-borrowing account but with full current account status
- Free Debit Card
Benefits to the customer
- Zero COT on balances of 100,000 Cedis and above
- COT paid to customers on average turnover
- Lodgment of all clearing instruments
- Receive monthly account Statement (optional)
- Access to telephone & internet banking
- Money Transfer within the Bank’s Networks.
- On line – real time transaction across the Bank’s Networks
- Dedicated account officer to manage each account
- Minimum opening balance of $100, GBP, EURO
- Open to only current account holders
- Zero Operating balance
- Attracts charge on transfers and withdrawals
- No restrictions on number of withdrawals