Bank Account Opening in Cameroon

Bank Account Opening in Cameroon

Banking in Cameroon

Cameroon has a well-developed banking sector with both local and international banks operating under the supervision of BEAC (Banque des États de l'Afrique Centrale) and COBAC (Commission Bancaire de l'Afrique Centrale). Major banks include Afriland First Bank, SGBC (Société Générale Camerounaise de Banques), Ecobank, CCEI Bank, BICEC, UBA Cameroon and Express Exchange. The official currency is the Central African CFA Franc (XAF), which is pegged to the Euro at a fixed rate.

Types of Accounts

Current Account (Compte Courant) — For day-to-day business transactions, payments and collections. Savings Account (Compte d'Épargne) — For depositing funds with interest accrual. Foreign Currency Account (Compte en Devise) — For holding and transacting in EUR, USD or other currencies. Escrow Account (Compte Séquestre) — For transaction-based holding of funds pending completion. Personal Account — For individuals, including expatriates with valid residency permits.

Typical Requirements

Corporate account: RCCM extract, NIU, articles of association, board resolution authorising the account opening, passport copies of directors and authorised signatories, proof of registered office, and initial deposit (varies by bank, typically XAF 100,000 to 1,000,000). Personal account: Valid passport, residency permit (for non-nationals), proof of address, reference letter from current bank, and initial deposit. Processing time is typically 1 to 3 weeks depending on the bank's internal compliance review.

How We Help

We have established relationships with all major banks in Cameroon and can expedite the account opening process. Our service includes: selecting the most suitable bank based on your needs (multicurrency, online banking, international wire transfers), preparing all required documentation, introducing you to the bank's corporate banking team, accompanying you to the bank for account opening, and following up until the account is fully active with cheque book, debit card and online banking credentials.

Why Wainfen Holdings

Wainfen Holdings has been operating in Cameroon since 2010 and has supported hundreds of local and international clients. Our bilingual (English/French) team understands both the OHADA legal framework and the practical realities of doing business across Douala, Yaoundé, Kribi, Limbe and Bafoussam. We commit to fixed fees, transparent timelines, and a single dedicated account manager who keeps you informed at every step. Whatever the service, our promise is the same: no surprises, no hidden costs, and full local execution so you can focus on your business.