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 1,000,000 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: 1,000,000 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.