Goodwill Current Account
Part of a comprehensive account package that is tailor-made and suitable for Non Profit Organizations (NPOs).
Target Market:
- Suitable for Non Profit Organizations (NPOs)
- Non Governmental Organizations (NGOs)
- International organizations
- Donor funded projects
- Religious organizations
- Diplomatic missions
- Trusts
- Foundations
- Membership clubs
- Associations
- Community Based Organizations (CBOs)
- Children’s homes
- Charities
Benefits:
- Interest of up to 1% p.a. is paid to the current account
- Zero charge on monthly ledger fees on both Kshs and foreign currency current accounts.
- Free cheque books.
- Zero charge on withdrawal and deposit of both Kshs and foreign currency cash.
- Free internal transfers from one account to the other within BOA.
- Free incoming wire transfers.
- No minimum operating balance requirement.
- Free interim statement.
- Free banker’s cheques.
Concessions:
- Preferential exchange rates for foreign currency conversions in all major currencies.
- Reduced handling charge on deposited foreign currency cheques drawn abroad.
- Reduced charges on SWIFT transfer sent abroad at Kshs 1,500.
- Low opening balance – USD, EUR and GBP 100, Kshs 1,000.
Frequently Asked Questions
Who can open this account?
This account is part of a comprehensive account package that is tailor-made and suitable for Non Profit Organizations (NPOs).
How much will it cost us to open and maintain this account?
To open a goodwill account, NPOs will need a low opening balance of Kshs. 10,000 or USD, EUR, GBP 100. This account has no minimum operating balance requirement. This is one of many waivers offered on account.
Will our organization be able to transact using both local and foreign currency?
Yes. Account can be operated using both local and foreign currency. To this effect, bank offers preferential exchange rates for foreign currency conversions in all major currencies.
How much will it cost us to send and receive money to and from abroad?
There is no charge on incoming wire transfers. There are reduced charges on SWIFT transfer sent abroad at Kshs. 1,500.