Current Account

Deposit account designed for checking transactions where deposit funds are drawn on demand as long as there are sufficient funds in the account and the bank is open for business. It can be operated by individuals as a personal current account and by Companies, Partnerships, Societies, Clubs and Associations as non-personal account.

Main Features:

• Cheque book and ATM CenteCard issued on request
• Minimum monthly ledger fees of only UShs ,10000/=
• Account does not earn interest
• Appointment of known agents by the account holder
• Regular monthly statements issued

Basic Requirements:

The requirements for opening a current account depend on the legal status of the prospective customer, varying as to whether it is personal, Sole Proprietor, Company, Partnership, Club, Association, Cooperative union or Society as detailed below.

Personal

• 2 passport size photographs.
• Valid identification documents like ID, Driving Licence, Passport or Voter's card.
• Letter of introduction from either employer or local authorities.
• Opening cash deposit of only UShs 100,000/=.
• Reference from existing Centenary Bank customer.

Sole Proprietor

• Copy of certificate of registration.
• Trading licence.
• Certificate of registration of business name where applicable.
• Statement of particulars.
• 2 references.
• Valid identification documents of the Sole proprietor.
• Opening cash deposit of UShs. 200,000.
• 2 Passport size photographs of the account signatory.
• L.C Letter of introduction.

Companies

• Registered Resolution by Directors to open a bank account
• Certified copy of certificate of Incorporation.
• Certified copy of Memorandum and Articles of Association.
• Particulars of Directors certified by the Registrar of Companies.
• Copy of the company trading license.
• Valid identification documents of account signatories.
• 2 references.
• 2 Passport size photographs each for the account signatories.
• Opening deposit of UShs.300,000/=.
• Physical presence of all signatories during opening of account.
• Company Tax Identification Number (TIN).

Cooperative Unions or Societies

• Copy of the Union or Society by-laws
• Copy of the certificate of registration issued by the Registrar of Co-operatives.
• AGM Resolution to open the account with the seal and original signatures.
• 2 references.
• 2 passport photographs of each of the account signatories.
• Valid identification documents of account signatories.
• Opening cash deposit UShs. 200,000/=.
• Physical presence of all signatories during opening of the account.

Partnerships

• Copy of Partnership Deed.
• Statement of particulars of partners.
• Copy of certificate of registration.
• Copy of trading license.
• Copy of certificate of registration of business names where applicable.
• Valid identification documents of account signatories.
• 2 Passport size photographs of account signatories.
• Opening cash deposit of UShs. 200,000/=.
• Physical presence of partners during opening of account.
• Written application letter to open up an account
• Tax Identification Number (TIN).

Benefits:

• Unrestricted cash and cheque deposits and withdrawals.
• Access to a variety of loan products and overdraft facilities.
• Access other bank services like money transfers, POS, SMS and PC banking services.
• Daily balances and mini-statements available on request.
• Can be held in both local and foreign currencies.
• Authority to operate the account can be delegated to third parties and dependants.
• Account can be jointly operated as a Joint Current Account.
• Facilitates opening account operated by minors.