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Opening a bank account in Senegal

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If you are moving to Senegal to work or to spend your retirement days, you will probably want to open a bank account. Here is how to proceed.

Once you have settled in Senegal, you will probably have to open a bank account there, whether you are working or spending your retirement days there. Formalities regarding the opening of a bank account in the country are not very complicated. However, these vary from one bank to another. Hence, you are advised to inquire with the respective bank so as to gather necessary documents beforehand. In some banks, fees may apply.

Procedures

To open a bank account in Senegal, the following documents have to be produced:

In the case of a checkbook account for an employee:

  • a first payment (amount to be determined by the bank)
  • 3 passport-size identity pictures
  • a legalized copy of your passport
  • proof of residence (residence certificate, lease document or a utility bill in your name)
  • your 3 last payslips.

Check account for an unemployed:

  • a first payment (amount to be determined by the bank)
  • 3 passport-size identity pictures
  • a legalized copy of your passport
  • proof of residence (residence certificate, lease document or a utility bill in your name)
  • your 3 last payslips.

Savings account:

  • a first payment (amount to be determined by the bank)
  • 3 passport-size identity pictures
  • a legalized copy of your passport
  • proof of residence (residence certificate, lease document or a utility bill in your name)
  • your 3 last payslips.

Savings account for a minor:

  • a notarized photocopy of the child's and his parents' passport
  • a signed parental authorization.

Banks

Senegal Post Bank is very popular with the locals as it is inexpensive. You can easily open a savings or current account there.

Ecobank only allows automatic cash withdrawal with debit cards it has issued itself.

Banque Régionale de Solidarité (BRS Sénégal) is open to customers seeking micro-credit facilities.

Bank of Africa (BOA) is found in Dakar only and its ATMs are accessible to visa card holders.

Senegal Housing Bank (BHS) is famous for the real estate loans it provides. You can open a housing savings plan there and even manage your account by internet banking.

Caisse Nationale de Credit Agricole is meant for both individuals and professionals as it is currently expanding. It provides not only ATMs but also consumer credit facilities, real estate loans, Visa Select and traditional Visa and Electron cards. Internet banking facilities are also available.

BICIS agencies are mainly found in Dakar, Saly, Mbour, Thies, St. Louis, Richard Toll and Ourossogui. It is a subsidiary of the French BNP.

Senegal Islamic Banks are present in Touba and Dakar. These are famous for their effectiveness, particularly in terms of low interest during international money transfers. Internet banking facilities are also available.

UBA, to date, has four branches in Dakar only. The bank does not charge bank account opening or maintenance fees.

CBAO is a subsidiary of the Moroccan Attijari Bank. It has many branches across Senegal, providing general facilities, as well as ATMs which accept the Eurocard Mastercard.

Attijari Bank is also very present in Dakar. It generally welcomes « middle-income » individuals.

Atlantic Bank has many small agencies across Dakar.

Citibank is a US bank which has subsidiaries and agencies across Dakar. It allows cash withdrawals namely in St. Louis, Mbour, Tambacounda, Ziguinchor, Kradolack, Touba, Louga, Richard-Toll, Kolda, Thiès, Saly, Cape Skirring, Louga, Rufisque Djourbel, Fatick, etc.

 Useful links:

Expat.com - Senegal Banks Forum 
Senegal Post Bank www.laposte.sn
Société Générale Senegal www.sgbs.sn
Attijari Wafa Bank www.attijariwafabank.com
CBAO www.cbao.sn
UBA Senegal www.ubagroup.com
Islamic Bank of Senegal www.bis-bank.com
BICIS www.bicis.sn
Caisse Nationale de Credit Agricole of Senegal www.cncas.sn
BHS www.bhs.sn
Bank of Africa www.bank-of-africa.net
BRS www.pseau.org
ECOBANK www.ecobank.com
Atlantic Bank www.banqueatlantique.ci
Citibank www.citibank.com

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Member since 01 June 2008
Small earth, Mauritius
1 Comment
Jeffery G.
Jeffery G.
last year

I am thinking about studying French for three or four months in Dakar at the Baobab Center. I will be on a visitors visa, but will probably stay with a family. I'd like to open a bank account to keep my cash-on-hand safe. Will this be difficult to do?

Reply

See also

Finding accommodation in Zinguinchor might not be an easy task. But the city is definitely going to seduce you with its rich cultural heritage.
Finding accommodation in Thies from abroad can be a real challenge. Therefore, you are advised to be very patient and cautious.
Like many big cities worldwide, Dakar also attracts foreigners in large numbers by providing numerous accommodation offers.
Saint-Louis is known for being Senegal's historical city. It is very welcoming towards foreigners wishing to settle there.
Finding accommodation will be one of your topmost priorities, even before moving to Senegal, but you can choose from a range of options.

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