A person who is making a deposit with the bank is known as a depositor/ someone who puts money in Nib Bank/.
The deposit itself is a liability owed by the bank to the depositor, and the word refers to this liability rather than to the actual funds that have been deposited. When someone opens a bank account and makes a cash deposit, he surrenders legal title to the cash, and it becomes an asset of the bank. In turn, the account is a liability to the bank.
This account is established for those customers who are interested to save with higher interest rate and also effect withdrawal at any time.This account can be opened by all Ethiopian nationals, who receive their remittance either through International Money Transfer Agents, SWIFT or exchange the hard currency at any of Nib’s branches.