Negotiable Order of Withdrawal Account
It is a special checking account enabling customers to have interest bearing checking account.
Business firms, NGOs, International and governmental organizations.
Withdrawals or payments to third parties are executed through check by transferring funds from the interest bearing saving account to the current account.
The minimum balance
to open account is Birr 10,000
Only three withdrawals
are allowed per month.
If the balance falls below Birr 10,000
interest will be forfeited for that particular month.
If more than three withdrawals are made
per month, interest will be forfeited for that particular month.