Ecobank Sierra Leone Account Opening Requirements

By | June 17, 2021
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Ecobank Sierra Leone Account Opening Requirements

Ecobank Sierra Leone Account Opening Requirements: Below are the various requirement for opening an account.

Please ensure you can answer YES to the following questions:

Personal / Joint Account

Resident

  • Completed account opening form
  • 1 mandate card [ PDF ]
  • A valid proof of Identity of each signatory (current Driver’s License/ National ID/ International passport/ Student ID card-for students)
  • Proof of address – utility bills for the 3 previous months/ site visitation report/ certificate of residence/ tenancy agreement
  • 2 passport photographs
  • Employer’s letter of introduction (for salary account)
  • Residence permit – if a foreigner
  • Answer questions on “Know Your Customer (KYC) document”

Non Resident

  • Completed account opening form
  • 1 mandate card [ PDF ]
  • A valid proof of Identity of each signatory (current driver’s license/ International passport) – duly notarised
  • Proof of address – Utility bills for the 3 previous months/ certificate of residence/ Tenancy agreement/ Credit card statement – duly notarised
  • 2 passport photographs
  • Employer’s letter of introduction / payslip/ tax clearance certificate/ bank statement – duly notarised
  • Answer questions on “Know Your Customer (KYC) document”

Country specific additionnal requirements

  • Proof of earnings (Senegal, Central African Rep.(CAR), Chad)
  • Tax Identification Certificate (The Gambia)
  • 2 References (Nigeria)
  • Alien ID in place of residence permit (Kenya)
  • 2 letters of introduction (Kenya)
  • PIN certificate (Kenya)
  • National Health Insurance Card as form of ID (Ghana)
  • Student “Supplementary form” or “Admission form” as a form of identification for students individual account (Ghana)
  • Thumb print of the authorized signatories of the accounts – Mandate Card (Tanzania)

NB: Non-Resident accounts may be subject to specific requirements in accordance with the regulations of each country. Our Customer Service officers are available for further clarification. Copies of documents should be notarized by foreign authority for non-residents.

SEE ALSO:

Sierra Leone’s banking system is overseen by its central bank, the Bank of Sierra Leone and twelve commercial banks operate in the country.

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All commercial banks are headquartered in Freetown. Accounts can be held in foreign and domestic currencies. While automatic teller machines are available in Freetown and other parts of the country, credit cards are not widely accepted. Transfers of over US$10,000 in value must be sent through the banking system with the objective of ensuring transparency.

Banks cannot lend in foreign currencies, which is a limitation on local business expansion. This can in turn impact the supply chains of large foreign-run businesses.

Currency can be freely converted in Sierra Leone, subject to availability. The Leone is not pegged to a foreign currency and has a floating exchange rate. The Leone has been subject to depreciation since mid-2014 due to declining inflows from the mining sector and, from mid-2015 onwards, a winding-down of Ebola-related donor inflows. Accordingly, the official US$/SLL exchange rate has moved from approximately Le 4,310 in August 2014 to approximately Le 8,600 in February 2019. Typically the US dollar trades in the unofficial, parallel currency market at a premium of 5-10% to the official exchange rate. The continued dollarization of the economy affects the exchange rate.

 

This is a list of commercial banks in Sierra Leone

 

 

Commercial banks

Sierra Leone Commercial Bank (SLCB)

Standard Chartered Bank (Sierra Leone)

Rokel Commercial Bank

Guaranty Trust Bank (Sierra Leone)

Union Trust Bank

First International Bank

FBN Bank Sierra Leone, formerly International Commercial Bank

Access Bank Sierra Leone

Ecobank Sierra Leone

Skye Bank Sierra Leone

United Bank for Africa (UBA) Sierra Leone Main Page

Zenith Bank Sierra Leone

Keystone Bank Sierra Leone

Bank of Sierra Leone

 

Community banks

Mattru Community Bank

Segbwema Community Bank

Yoni Community Bank

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