CURRENT DEPOSIT ACCOUNT
No limit on deposits and withdrawals.
- Individual, Joint, Company, Societies, Club Association, Sole Proprietor, Partnership.
- Bearer or Order cheque book
- Ks 125 per 25 pages cheque book with stamp duty
- Ks 10,000 initial deposit
- Ks 10,000 minimum balance
- Company Profile
- Company license
- Resolution of BOD to open account at MOB with
- Account Type
- Authorized person to operate the open account with withdraw option.
- Stamp rubber seals including name, designation and company name assigned by company.
Terms & Conditions
Withdrawal by Cheque
- Withdrawal can be done by using a cheque. The account holder must sign on any amendment made on the cheque as an acknowledgement.
- For private account, the account owner can sign and withdraw money by himself.
- For joint account, with more than one account holder, money can be withdrawn with any one of the holders’ signatures.
- For business current account, anyone who has the Power of Attorney (POA) approved by Board of Directors’ resolutions can sign on the cheque for withdrawal.
- No limitation on amount and number of withdrawals from the account.
- When there is insufficient balance in the current account, the saving account can be connected with the current account to withdraw money.
- The account can be closed at the MOB branch where the account was opened.
- Unused Cheque must be resubmitted