Before you start

Passport
Residence permit
Employer letter
Proof of Addis address

Step-by-step

1
Open a birr account in branch
Bring passport, residence permit, employer letter, proof of address and photographs. CBE has the widest branch network; the private banks are often quicker and better staffed for foreigners.
In personWho: You
2
Ask about a foreign-currency account
Rules on who may hold foreign currency have been progressively relaxed since the 2024 reform, including the removal of some minimum-balance requirements. Ask at opening rather than assuming the old restrictions still apply.
In personWho: You
3
Register for Telebirr
Ethio Telecom's mobile money is near-universal for everyday payments. Safaricom Ethiopia's M-Pesa is the alternative since the market opened to a second operator.
Mobile appWho: You
4
Bring money in through formal channels and keep the paperwork
Evidence of inbound transfers through the banking system is what supports later outbound remittance. Informal inflows leave you with no documentary basis to move money out.
OnlineWho: You
5
Plan outbound remittance ahead of when you need it
Profit and salary remittance rules have been eased since the reform, with more approvals delegated to commercial banks, but it remains a documented process rather than an instant transfer.
In personWho: You

Documents you’ll need

Passport
Residence permit
Employer letter
Proof of Addis Ababa address
Passport photographs
Evidence of inbound transfers

Things most newcomers don’t know

The July 2024 float is the single most important fact about money in Ethiopia, and most guidance predates it.

The National Bank moved to a market-determined rate, the birr depreciated sharply, and the enormous gap with the parallel market narrowed dramatically before partially reopening. Restrictions on holding and using foreign currency have been eased in stages since. Any advice built around a fixed official rate and a thriving black market is describing the pre-2024 system, not the current one.

Source: National Bank of Ethiopia foreign exchange directive FXD/01/2024

Document every inbound transfer at the time it happens.

Getting money out of Ethiopia has always been harder than getting it in, and what supports an outbound remittance is evidence that the funds came in through the banking system. That paper trail cannot be reconstructed later. Bring money formally even when an informal route looks cheaper on the day.

Source: National Bank of Ethiopia foreign exchange rules

The banking sector opened to foreign participation in 2024 for the first time in over fifty years.

New legislation permits foreign banks to enter through subsidiaries, branches, representative offices and equity stakes, subject to ownership caps. It will change the medium-term service picture — particularly for international transfers — but it does not retroactively simplify an existing account or an existing FX history.

Source: Ethiopian banking legislation, 2024

Telebirr is not optional if you want to live normally.

Ethio Telecom's wallet is embedded in everyday payments across Addis in a way that catches out people who plan to live on cards. Register it early. M-Pesa exists as a genuine alternative since the telecoms market opened to a second operator, but Telebirr's acceptance is still wider.

Source: Ethiopian mobile money market structure

Common mistakes to avoid

Following pre-2024 advice about the official rate and the parallel market.
Bringing money in informally and having no documentary basis to remit later.
Assuming foreign-currency accounts are still as restricted as they were before the reform.
Planning to live on international cards without registering for Telebirr.
Leaving an outbound remittance until the week you need the money.

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.

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