Diaspora Savings Account
Barwaqo Bank’s Diaspora suite of products was conceived to fill the need of Somalis in Diaspora who want safe, versatile and convenient banking from their bases abroad. Being the first Somali bank to offer such facility there was a gap to be filled was evident with the number of accounts on our database belonging to non-resident Somalis. What this means is that even without an account for this segment of Somalis, they have continued active banking with Barwaqo Bank from abroad, as we have made viable for our customer to open an account online.
With the estimate of over 2 million Somalis in Diaspora, our customers will no longer worry about carrying large sum of money in their bags or be forced to pay a money transfer company to transfer it for them, they will simply be able to deposit while they are abroad and use their funds when they come home.
- Competitive profit rates
- Profit calculated on a monthly balance basis with the balance attracting tiered rates
- Unlimited free-of-cost withdrawals and deposits
- Free Fund Transfer*
- Account opened with an initial deposit of $10 only
Minimum balance requirement of $100 only