BAI Current Account

The deposits must be made in National Currency (NC).

The Current Account offers access to the following solutions:

• Cheques issuance: making cheques available for cash payment orders, in a practical and secure way;
• Bank transfers: handling of funds in a convenient way for any beneficiary (inter and intra bank transfers);
• Bank statements: upon request, the Bank issues account and equity statements for better control;
• Treasury solutions: to meet treasury needs, eligible companies have access to the following products: Escrow Current Account, Bank Overdraft, BAI Import facility (to meet local import expenses);
• Investment credit: financing granted for investment in tangible fixed assets (restructuring, replacement of equipment, acquisition of assembly lines, increase of the distribution fleet, construction of a new factory and other expansion and modernization projects);
• Collection solutions: this service allows companies to receive payments from their customers in an agile and secure way, facilitating the management of receivables without the need for direct collection;
• Payment solutions: automated payment solutions to suppliers and wages by files;
• Payment solutions: automated payment solutions to suppliers and wages by files;
• Access to BAI Directo:

• • Internet Banking: a BAI Directo channel service that allows customers remote access to accounts, for consultations and transactions over the internet, from a computer, through a secure Bank page;
  • Mobile Banking¹⁾: A BAI Directo channel service with features that make the Bank's offers (services and products) available via mobile phone.

• Other solutions:
  • Documentary operations: Bank Guarantees, Documentary Collections, Documentary Credits;
  • Collection and transportation of valuables: safe and comfortable way to transport companies' resources;
  • Protocol for workers: a set of differentiated financial solutions for employees of the Bank's Client Companies;
  • After-sales service: the Bank has a customer support service available 24 hours a day;
  • Other financial and electronic solutions, available at BAI.
    

• Statutes project;
• Tax Identification Card (TIN) or provisional document; 
• ores, gerentes, procuradores e/ou Documentation of the partners / shareholders with a participation equal to or greater than 10% of the company's capital / shares, as well as administrators, managers, attorneys-in-fact and / or persons empowered to operate the account:

• • Individual Account Opening Form;
  • Identity Card, Resident Card or Refugee Card, for foreign exchange residents and non-foreign exchange residents of Angolan nationality;
  • Passport with valid residence permit, for non-foreign exchange residents of other nationalities;
  • Tax Identification Card (TIN) or provisional document;
  • One (1) passport holder color photograph;

• Documentation of legal persons holding more than 10% of the company's capital / shares:
  • Public deed of incorporation or publication in Diário da República;
  • Commercial Registration Certificate (updated with less than 30 days);
  • Tax Identification Card (TIN) or provisional document;
  • Complete shareholder structure, indicating the beneficial owners of the company; present legal documentation that justifies the composition of the current shareholder structure: Registration of shares, book of minutes / minutes and / resolutions authenticated by a notary which document the legal situation of the company.

• Certificate of Commercial Registration;
• Public deed of incorporation or publication in Diário da República;
• Complete shareholder structure, indicating the beneficial owners of the company with a participation equal to or greater than 10% of the capital;
• Present legal documentation that justifies the composition of the current shareholder structure, Registration of shares, book of minutes / minutes and / resolutions authenticated by a notary which document the legal situation of the company.

• Public deed of incorporation or publication in Diário da Repúblic;
• Commercial Registration Certificate (updated with less than 30 days);
• Tax Identification Card (TIN) or provisional document;
• Complete shareholder structure, indicating the beneficial owners of the company; present legal documentation that justifies the composition of the current shareholder structure: Registration of shares, book of minutes / minutes and / resolutions authenticated by a notary which document the legal situation of the company;
• Documentation of the partners / shareholders with a participation equal to or greater than 10% of the company's capital / shares, as well as administrators, managers, attorneys-in-fact and / or persons empowered to operate the account:

• • Individual Account Opening Form;
  • Identity Card, Resident Card or Refugee Card, for foreign exchange residents and non-foreign exchange residents of Angolan nationality;
  • Passport with valid residence permit, for non-foreign exchange residents of other nationalities;
  • Tax Identification Card (TIN) or provisional document;
  • One (1) passport holder color photograph.

• • Last DAR;
  • Resolution of the Management / Administration council to authorize the opening of an account and delegate powers to the account subscriber (s) with the bank; 
  • Resolution of the Management / Administration council to authorize the opening of an account and delegate powers to the account subscriber (s) with the bank;
  • Powers of attorney, if any.
    

• • Resolution to authorize the opening of the account, duly signed and authenticated by the Angolan Consulate of the country of origin (if possible, translated into Portuguese);
  • Legal appointment of the legal representative in the country;
  • Certificate of Incorporation, authenticated by the Angolan consulate of the country of origin (if possible, translated into Portuguese);
  • Authenticated statutes of the Incorporation authenticated by the Angolan consulate of the country of origin (if possible, translated into Portuguese);
  • Resident Card and Passport (for foreigners), with proof of authorization to stay in Angola;
  • Two (2) passport-sized color photographs;
  • Have the minimum amount required to open the account as per the price list in force.

• Association Agreement, which must contain the name of the said association of companies;
• Certificate of Admissibility of Trade Name, which must include the name of the said association of companies (only for cases where the name of the association of companies is not included in the contract;
• Tax Identification Card (TIN) or provisional document (Only for formalized business associations);
• Complete documentation of the companies that make up the association of companies, according to the Checklist in force for opening accounts of commercial companies;
• The representatives of the Association or Group of Companies, administrators, managers, attorneys-in-fact and / or persons empowered to operate the account:

• • Individual Account Opening Form;
  • Identity Card (nationals);
  • Resident Card and Passport (for foreigners), with proof of authorization to stay in Angola;
  • Tax Identification Card (TIN) or provisional document;
  • One (1) passport holder color photograph.

On-site Channel (Branch counter):

1. It allows credit and debit transactions without restrictions after completing the account opening process:

• • Credit transactions: Cash inflows in the customer's account, by cash deposits, cheques (with availability after effective collection) and transfers;
  • Debit Transactions: Cash withdrawals, money orders, transfers and payments by card or other payment methods authorized by the Bank.

• Information on credit and debit movements of the current account will be made available to the customer through the issuing of statements, upon request or other electronic instruments;
• The movement of accounts by any means is subject to compliance with the legislation in force and availability of the Bank's treasury.

Non-Presential Channel (BAI Directo):

• It allows credit and debit transactions, until the account opening process is completed, with the following restrictions:
• Credit transactions: Funds received in the client's account, by cash deposits and transfers of up to 2,000,000 KZ (Two Million Kwanzas), per day;
• Debit Movements: up to 200,000 KZ (Two Hundred Thousand Kwanzas) per day, exclusively at BAI Directo.

Note:

• Information on credit and debit movements of the current account will be made available to the customer through the issuing of statements, upon request or other electronic instruments;
• The movement of accounts by any means is subject to compliance with the legislation in force and availability of the Bank's treasury​;

• The Bank may at any time and by unilateral decision, proceed to the extinction of the account by giving prior notice to the Client and requiring the return of cheque forms and other means of payment held by the account holders.
• At the end of the notice period and if the customer does not withdraw the balance of the account to be extinguished, the Bank will send a bank cheque of that amount.
• After the account is terminated, no orders will be executed and all amounts withdrawn or domiciled in this account will be returned, namely cheques.
• The Bank may at any time and by unilateral decision proceed to the immediate termination of the account through a just cause resolution, with effects described in the previous paragraphs.
• For the purposes of the preceding paragraph, immediate extinction for just cause is considered, among others, account situations that, after being considered dormant, do not have any type of debit or credit movement for a period of 12 months thereafter.
• The account is considered dormant when, for a period of twelve months, there is no debit or credit movement.

For the movement of an account related to deposit and withdrawal operations (amounting to 1,500,000 KZ or more or the equivalent in other currencies), the client must present documents that justify this movement, fill and sign the statement of origin justification / destination of funds (MOD. 010-068);

In order to carry out a deposit or withdrawal operation (amounting to 1,500,000 KZ or more or equivalent in other currencies), a compliance test is required, based on the customer's risk profile, considering the following:

• The MOD. 010‐068 filled and signed and / or supporting documentation;
• The conformity of the operation with the type of activity and the customer's income level;
• The history of the client's account movements;
• Suspicious money laundering and / or terrorist financing operations must be reported to the GCL and this in turn must report to the competent authorities.