Finance and Investment

ABSA Dollar Account – what are the requirements?

ABSA Bank has foreign accounts for individuals and corporate institutions. The Absa dollar account is among the most affordable foreign accounts in Ghana, tailored for your personal and international business needs.

You can also use the account to transfer money to your preferred destination quickly and safely.

Benefits of an ABSA Foreign currency account

If you open a US Dollar, British Pound or Euro account with ABSA, you enjoy these benefits;

Deposits and withdrawals can be made without prior notice.

Get the full range of payment and collection instruments like cheques, international payments via SWIFT or domestic payment – ACH and other payment switches.

Access your account and make payments via our online banking portal.

Free cash deposits

Receive free digital statements

Free withdrawals (cash deposit only)

Debit card and chequebook

Free mobile and internet banking

Non-interest bearing

Can receive only offshore foreign currency funds

ABSA dollar account Requirements

  • To qualify for this account, you must be 18 years of age or old
  • You must have a current account.

Follow the instructions to open a foreign account with ABSA.

Also Read:

a. How to reduce business taxes in Ghana 2022

b. The difference between ACCA and ICA

How to open a Dollar or Euro account online

You can create a secure digital USD and Euro accounts online for free on blockchain. The accounts can be used for transfers and payments, just like USD/Euro accounts with traditional banks.

Digital dollar or Euro account is not a replacement for banknotes, but the process eliminates the paperwork and restrictions of bank accounts.

The US Dollar Coin (USDC) and Celo Euro are stablecoins that are pegged to the USD and Euro; thus, a $1 or E1 of value is redeemable on a 1:1 basis for the USD or EURO.

Unlike most foreign currency accounts with banks, Digital dollar and Euro accounts bear interests. USDC gives you an interest of 11% per year while you earn 4% on Celo Euro.

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