Individual SME Current Account

This account is designed for self-employed individual person who maintains small business.

Features
Requirements

1. 100 leaf chequebooks

2. Internet Banking

3. Full access to our agents in Somalia/worldwide

4. Free Monthly Bank Statements

5. QR Code Merchant Till

6. Eligibility to Different Financing Products

7. SMS/e-alerts

1. Valid copies of passport/national ID.

2. Physical address

3. Proper declaration and documentation of the customer’s source/volumes of income, nature of business & purpose of account opening.

4. Basic customer information (Physical address, phone number, email address, next of kin, mother name, occupation, marital status, gender, … etc)

5. Two recent passport size photos of the account signatories

SomBank offers a comprehensive SWIFT service that enables both outward and inward transfers, allowing you to move money from your account to other international bank accounts. This service is fast, secure, and efficient, facilitated through SomBank’s correspondence with foreign banks.

The SWIFT code for SomBank is SOMNSOSMXXX, which is a unique identification code used for international transactions and ensures secure communication between financial institutions globally.

Write one or two paragraphs describing your product or services.

SomBank Mastercard

SomBank, in partnership with Mastercard, has launched a Mastercard-branded debit card in Somalia.

The card is expected to offer access to a wide network of merchants and ATMs that accept Mastercard payments, as well as through SomBank’s extensive network of branches and agents. This marks a significant step towards financial inclusion in Somalia, enabling more people to participate in the economy and access essential financial services.

Start with the customer – find out what they want and give it to them.

Personal Current Account

This account type is designed for individual customers.

Features

1. 25 leaf Cheque books

2. Internet/Mobile banking

3. Free monthly e-bank statement

4. Free standing orders set up

5. Local/International bank/SWIFT transfers & remittance.

6. Full access to our agents in Somalia/worldwide

7. Eligibility to different financing products.

8. Email/phone indemnity banking

9. SMS/e-alerts

10. ATM Debit Cards

Personal Saving Account

This account type is designed for individual customers to deposit and save their money securely.

Features

1. Internet/Mobile banking

2. Free monthly e-bank statement

3. Local/International bank/SWIFT transfers & remittance.

4. Full access to our agents in Somalia/Worldwide

5. Eligibility to different financing products.

6. Eligibility to invest with SomBank’s investment products

7. SMS/e- alerts

8. ATM Debit Cards

Student Current Account

This account type is designed for students in undergraduate & postgraduate levels to get access to the financial sector.

Features

1. Internet/Mobile banking

2. Free monthly e-bank statement

3. Local/International bank/SWIFT transfers & remittance.

4. Full access to our agents in Somalia/worldwide.

5. Eligibility for student financing products.

6. No minimum balance

7. Free deposit/withdrawal

8. SMS/e-alerts

9. ATM Debit Cards

Diaspora Account

This type of account is designed for Somali Diaspora to save their money, manage finances and invest back at home.

Features

1. 50 Cheque books

2. Internet/Mobile banking

3. Free monthly bank statement

4. Free standing orders set up

5. Local/International bank/SWIFT transfers & remittance.

6. Full access to our agents in Somalia/worldwide

7. Eligibility to different financing products.

8. Email indemnity banking

9. No withdrawal/deposit limit

10. SMS/e-alerts

11. ATM Debit Cards

Salary Account

This type of account is designed for salaried individuals working for both public and private sectors and Non-Governmental agencies.

Features

1. Internet/Mobile banking

2. Free monthly bank statement

3. Free standing orders set up

4. Local/International bank/SWIFT transfers & remittance.

5. Full access to our agents in Somalia/worldwide

6. Eligibility to different financing products.

7. Unlimited deposit/withdrawal

8. SMS/e-alerts

9. ATM Debit

Business SME Current Account

This account type is designed for businesses to save, keep & manage their finances.

Features

1. 50 leaf cheque books

2. Internet Banking

3. Local/International bank/SWIFT transfers & remittance.

4. Full access to our agents in Somalia/worldwide

5. Free Monthly e-Bank Statements

6. Dedicated relationship manager

7. Salaries Processing & Payroll Management.

8. QR Code Merchant Till

9. Eligibility to Different Financing Products.

10. Eligibility to Trade financing products (LC, Bank Guarantee, Performance Bond, Contract/LPO Financing… etc.)

11. SMS/e-alerts