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.
- 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).
- 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.
- 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.