How to open a bank account in Togo

How to open a bank account in Togo?

To open a bank account in Togo you can go to the nearby bank with some required documents with you.

These documents can be:

  • an identification document, that can be your identity card, or your passport or your residence permit,
  • proof of address,
  • a telephone number and
  • some photos.

You can first call to make an appointment. You can also use the online service to register yourself. That depends on the bank.

Read more below, comment, or contact us if you have any questions.

How to open a bank account in Togo?

Above all, ask yourself if opening a bank account in Togo is helpful for your finances.
If you’re starting a business, you want to open a bank account in Togo.
If you need to move money only for your personal expenses, you might not need a bank account in Togo. You can use a bank card from another country to make withdrawals and payments.

You can simply go to the nearby bank with the list of required documents with you. Or you can first make an appointment at call. You can also use the online service to register yourself.

Togo currency is the CFA franc. It has a fixed exchange rate with the Euro.

Most banks in Togo offer mobile banking. Each Togolese bank may offer different services online. So check what mobile bank services are available with a new bank account in Togo.

Most of Togo’s banking institutions are in the capital, Lome. Most of the people in Togo who have a bank account live in Lome.

After that, you just have to provide your personal details and documents and after verification, your account will be opened at the respective bank.

You can visit the various branches near you in Togo. And find out what each bank in Togo offers. What are their services and the cost of those services?

Each bank has a different list of documents you want to show when you open a bank account in Togo.

But in general, this is a list of the document that your bank might ask for.

Each bank may ask for at least

  • an identification document, that can be your identity card, or your passport or your residence permit,
  • proof of address,
  • a telephone number and
  • some passport photos.

Some banks may ask for proof of income.

The initial deposit is variable, it is generally between 10,000 and 20,000 FCFA. An employee can open an account without a deposit. If they transfer their wages to their bank account. For an organization account, the smallest payment is 250,000 FCFA.

Different types of accounts may be available:

  • personal account,
  • company account,
  • association account,
  • checking account,
  • savings account,
  • term deposit account or
  • an account with convertible francs.

The personal account is the easiest to get, in some banks you can open it in 30 minutes. With a bank account, you may have a checkbook and a debit or credit card. It is possible to have a debit card associated with some savings accounts.

Banks in Togo

Here are some of the best banks in Togo.

It has over 130,000 clients, including 115,000 individuals and 15,000 businesses. These are small and micro businesses, small and medium-sized businesses, retailers, and institutions. It has services for self-employed, professionals, or students.

Orabank Togo is one of the biggest banks in the Togolese banking system. This is because of its capital, balance sheet, equity, and profitability.

Orabank Togo has a workforce of 384 personnel and a network of 38 branches.

Orabank Togo has a workforce of 384 personnel and a network of 38 branches.

Ecobank Togo

Ecobank is a commercial bank based in Togo that operates in 36 African countries. Governments, financial institutions, multinationals, SMEs, and individuals can use the bank’s wholesale, retail, and investment banking services.

It employs 200 people and generates $ 33.76 million in revenue (USD).

Can I open a bank account in Togo?

A foreign citizen can open a bank account in Togo with the proper paperwork and initial investment. Based on economic regulations and tax structures, this opportunity for international accounts and investments offers a number of benefits.


Source: Go Africa online

The cover image is somewhere in Lome, Togo. Photo by Gnim Zabdiel Mignake on Unsplash


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