Personal accounts: Sierra Leone
An honest assessment before work starts, the quote is fixed in writing.
Banks in Sierra Leone are supervised by the Bank of Sierra Leone, and the currency is the leone. A redenomination took place in 2022: one new leone equals 1,000 old ones, so amounts in older contracts and statements look a thousand times larger. The economy is largely cash-based, and a local account is mainly for people who live and work in the country: receiving salary, paying rent, school fees and local contractors.
Who can open a personal account
Foreigners get an account only with a local presence. Tourists and non-residents with no link to the country are generally refused, and remote opening is not practised. Accounts usually go to employees of companies and international organisations, entrepreneurs with a local business and foreigners living in the country with a work or residence permit.
Documents the bank asks for
- Passport with a visa, work or residence permit.
- Proof of address in Sierra Leone: lease or utility bill.
- Employer letter or documents on the local business.
- A reference from an existing client or a guarantor, if the bank requires one.
- Photographs and a source of funds declaration.
Account currency
Main accounts are in leones. Dollar accounts are not offered by every bank, cash dollars are often scarce, and the bank may limit large withdrawals under its own rules. At the Bank of Sierra Leone rate in early October 2026 one dollar was about NLe 22.9.
Taxes and deposit protection
| Item | Rule |
|---|---|
| Tax on deposit interest | 15% withheld at source for residents; 20% for non-residents from 1 January 2026 under the Finance Act 2026 |
| Tax on rent | 15% withheld at source from 1 January 2026, previously 10% |
| Deposit protection | Deposit Protection Fund under the 2023 Act; the limit is set by the central bank at no less than NLe 20,000, ~$880, per depositor |
Mobile money and cards
Cards and banking apps work in the larger cities, but the ATM network is limited. For everyday payments locals mostly use mobile network wallets, so a bank account is usually paired with a mobile wallet.
How the opening works
- Assessment of your status in the country and choice of bank.
- Documents: passport with permit, proof of address, employer letter.
- Branch visit, bank checks and a reference if required.
- Initial deposit and card issue.
Why banks refuse
- No work or residence permit and no local address.
- The source of funds or purpose of the account is not documented.
- The account is meant for transit transfers unrelated to life in the country.
What we do
We assess whether your link to the country is strong enough for an account, choose a bank, prepare the documents and source of funds explanation, and support the branch visit. If the account is for work, we tie it to the work permit application. The decision is always the bank's. We quote the fee after a short consultation and fix it in writing.
What we do
- Personal account - opening assistance
See also
Business account · Investment property · All country programs
FAQ
Can a foreigner open a bank account in Sierra Leone?
What currency will my account be in?
Do cards and mobile banking work?
Will my tax authority learn about the account?
What is the tax on deposit interest in Sierra Leone?
Are deposits insured in Sierra Leone?
Can I open a dollar account in Sierra Leone?
Do I need a guarantor for an account in Sierra Leone?
Want to open a personal account in Sierra Leone?
We assess which Sierra Leone bank will open an account for your purpose, prepare the documents and explain upfront how to handle dollars and the local currency. Every country is in the searchable catalogue.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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