Product Name

 Current Accounts

Description

  • ​The current accounts suit both individuals or corporations who have liquid cashflows and want to manage safely their money by using cheques instead of cash to pay for goods and services. 

Benefits

  • Support liquid cashflows through the bank account for business operations. 
  • Minimize risks of cash expenses in the large amounts of money   
  • Can use cheques instead of cash to pay for goods and services.
  • Deposit, withdraw and transfer funds during business days at the BCEL counters, available around the country.  
  • Can transfer money to another account at other local/foreign banks in Laos  
  • Bank cheques can be used to guarantee for the auction. 
  • By current accounts, you can also apply for other BCEL services, including ATM and Visa Credit/Debit Cards in order to access your account via ATMs, EDC and BCEL One app, available on Smartphone & Computer (PC). These additional services may allow you to check your account balance, fund transfers, payments and to top up your mobile.  
  • You can monitor your account transactions and balance via Internet and SMS banking
  • Be able to use to confirm your financial position

Terms of Service

  • Minimum initial deposit: 500,000 LAK/ 50 USD/ 2000 THB/ 500 CNY (other foreign currency deposits that didn’t mention should be approved by a manager)    
  • CNY currency deposits are only allowed for corporations or Chinese organizations that invest or operate businesses in Laos. 
  • Current account holders will not be paid any interest while no fixed period to hold the current account. However, If closing the account before 3 months calculated from the opening date, a charge will be applied, according to the current Fees Regulations set forth by BCEL 
  • The minimum balance should be maintained: 500,000 LAK/ 50 USD/ 2,000 THB/ 100 CNY
  • Maintenance Fees: 3,500 LAK/ 0.5 USD/ 16 THB/ 5 CNY/Account/Month
Fees
  • Opening a bank account: 10,000 LAK/ 2 USD/ 50 THB/ 10 CNY/Account/time
  • Closing a current account before 3 months calculated from the opening date: 30,000 LAK/ 4 USD/ 140 THB/ 30 CNY/Account
  • Cheque Book Price: 50,000 LAK/ 7 USD/ 220 THB/ 50 CNY/Account/Unit  
  • Certified cheques (VISA Cheques): 15,000 LAK/ 2​ USD/ 60 THB/cheque
  • If dismissal of a cheque/cancellation:

20,000 LAK/cheque, Maximum value: 100,000 LAK,

USD/cheque,  Maximum value: 13 USD,

90 THB/cheque, Maximum value 440 THB,

20 CNY/cheque, Maximum 90 CNY.

  • If issuance of bounced cheque certificate: 20,000 LAK/ 3​ USD/ 90 THB/ 20 CNY/cheque/time
  • Monthly account statement: Free 
  • Online fund transfers among service units or branches, the BCEL network within the same province or via ATMs: Free.
  • Fund transfers via BCEL One exceed 10,000,000 LAK: 2,000 LAK/transaction
  • Deposit, withdrawal, exchange and online transactions among service units or branches within the BCEL network, but not the same province: 10,000 LAK/ 2 USD/ 50 THB/transaction.
  • Fund transfers from Account to pay cash out (if receivers don’t have BCEL deposit accounts): 15,000 LAK/ 2 USD/ 70THB/transaction      
  • Adjusted transaction for fund transfers among the BCEL network: 15,000 LAK/ 2 USD/ 70 THB/transaction
  • Fund transfers to other banks within the same province (AVIS or Cheque): 15,000 LAK/ 2 USD/ 70 THB/transaction
Regulation
  • Cheques should be used for any transactions.
  • Cheques remain valid 180 days starting from the date of order.
  • ​If the details of the order cheque are changed or wrong such as name and surname, A/C number of receiver, date, money amount in number and written, the account holder must clearly erase those mistakes and write new one with his/her signature recognized by the bank
  • Do not order cheques with 2 conditions, i.e. a payment for goods to Ms. A/Cash.
  • If order cheques are withdrawed or transferred to another bank, a holder must certify and confirm the cheque with the issuing bank.