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Waffar Business Account

Business Account with less documentation.

BDC is pleased to announce the launch of the “Central Bank of Egypt’s Financial Inclusion products” to provide Micro & Small companies and startups which do not have completed documentation to access to banking products and services with affordable fees and less documentation.

Benefits:

  • Free issuance with No minimum to open the account.
  • Interest rate 1.5% starting at 1 EGP to 500,000 EGP.
  • Calculates the interest on the daily closing balance and paid monthly.
  • Possibility of Cheque book issuance.
  • Possibility of cheques’ and bills’ collection within daily and monthly limits.
  • Possibility of payment of obligations, invoices and money transfers within daily and monthly limits.
  • Receive free periodic account statements.
  • Free subscription of Corporate Internet/Mobile Banking
  • Possibility of electronic collection (Merchant QR-code / POS) and adding proceeds to this account
  • Possibility of internal and external transfers within daily and monthly limits (Domestic Transfer only).

Features:

  • Egyptian Companies Only.
  • Business account for startups and Small & micro Companies.
  • Companies who do not have full documentation.
  • CD’s / TD’s Available within Account limit.

Required Documents:  

  • Valid NID of the person with authority to manage the company account.
  • In addition to any documents available with the customer such as: commercial register or Tax card if any, or a rent contract or purchase /sale invoices. 

Balance and Debit limits:

  • Max Account Balance Limits: 500,000 EGP (Including CD’s / TD’s)
  • Max Daily Debit Transaction Limits: 40,000 EGP (Including cash payment / transfers / purchasing / cheques’ withdrawal)
  • Max Monthly Debit Transaction Limits: 200,000 EGP (Including cash payment / transfers / purchasing / cheques’ withdrawal)

Note: In case of any breach, the account will be suspended.

  • If the daily or monthly debit transaction or account balance limit is breached, your account will be suspended, and the following will be required:
  • You will have to visit the nearest branch to sign Full KYC.
  • Upon visiting the branch, you will only need to fill out a Full KYC (personal information application) and provide full company documents then the account will be changed to normal company account as per customer request.