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Terms and Conditions

Terms and Conditions

1. Introduction

Welcome to National Bank of Euthopia’s Mobile Banking Application (the “App”). By accessing or using our App, you agree to comply with and be bound by these Terms and Conditions (the “Terms”). If you do not agree with these Terms, please do not use the App.

2. Eligibility

You must be at least 18 years old and a registered customer of National Bank of Euthopia to use the App. By using the App, you represent that you meet these eligibility requirements.

3. Account Security

  • Login Credentials: You are responsible for maintaining the confidentiality of your account information, including your username and password. Do not share your login credentials with anyone.
  • Unauthorized Use: Notify National Bank of Euthopia immediately if you suspect any unauthorized use of your account or any breach of security.

4. Use of the App

  • Permitted Use: The App is intended for personal, non-commercial use. You may use the App to manage your accounts, view transaction history, make payments, and perform other banking activities.
  • Prohibited Activities: You agree not to use the App for any unlawful purpose or in any manner that could damage, disable, overburden, or impair the App. Prohibited activities include but are not limited to fraud, hacking, and unauthorized access to other users’ accounts.

5. Service Availability

  • Operational Hours: While we strive to ensure that the App is available 24/7, we do not guarantee uninterrupted access. The App may be temporarily unavailable due to maintenance, updates, or unforeseen issues.
  • Limitation of Liability: National Bank of Euthopia is not liable for any losses or damages resulting from the App’s unavailability or any interruptions in service.

6. Data Protection and Privacy

  • Privacy Policy: Your use of the App is also governed by our Privacy Policy, which outlines how we collect, use, and protect your personal information. Please review our Privacy Policy for more details.
  • Data Accuracy: It is your responsibility to ensure that the information you provide through the App is accurate and up-to-date.

7. Fees and Charges

  • Fees: Some services offered through the App may incur fees. Any applicable fees will be disclosed to you prior to completing a transaction. National Bank of Euthopia reserves the right to change fees with notice to you.
  • Charges: You are responsible for any charges related to the use of the App, including data charges from your mobile service provider.

8. Intellectual Property

  • Ownership: All content, trademarks, and other intellectual property rights associated with the App are owned by or licensed to National Bank of Euthopia. You may not copy, reproduce, distribute, or create derivative works from the App without our express written consent.
  • License: National Bank of Euthopia grants you a limited, non-exclusive, non-transferable license to use the App for its intended purpose, subject to these Terms.

9. Termination

  • Termination by Us: National Bank of Euthopia reserves the right to suspend or terminate your access to the App at any time if we believe you have violated these Terms or for any other reason deemed necessary.
  • Termination by You: You may terminate your use of the App by closing your account with National Bank of Euthopia or uninstalling the App.

10. Modifications to Terms

National Bank of Euthopia may update these Terms from time to time. We will notify you of any material changes by posting the revised Terms in the App and updating the effective date. Your continued use of the App constitutes acceptance of the revised Terms.

11. Dispute Resolution

  • Governing Law: These Terms are governed by the laws of [Jurisdiction], without regard to its conflict of laws principles.
  • Dispute Resolution: Any disputes arising from these Terms or your use of the App will be resolved through binding arbitration in accordance with the rules of [Arbitration Institution], or through the courts of [Jurisdiction].

12. Contact Us

If you have any questions or concerns about these Terms, please contact us at:

National Bank of Euthopia
[Address]
[Email Address]
[Phone Number]

13. Miscellaneous

  • Entire Agreement: These Terms constitute the entire agreement between you and National Bank of Euthopia regarding the use of the App and supersede all prior agreements or understandings.
  • Severability: If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions will continue in full force and effect.
  • Waiver: The failure of National Bank of Euthopia to enforce any right or provision of these Terms will not constitute a waiver of such right or provision.

14. Key Facts Statement for Savings Accounts

This key fact applies only to savings accounts, including Ordinary, Women’s, Youth, Teen Youth, Educational, Wedding, Holiday, and other savings accounts.

I. Account Features

Minimum Balance

  • To open an account: it can be opened with zero balance given that there is a reasonable source of fund that can bring the balance to the minimum amount of birr 100 within fifteen days.
  • To Keep the account:100 Birr

Transaction Limit

  • Individual consumer account is subject for Daily Cash withdrawal limit of Birr 50,000
  • Corporate consumer account is subject for Daily Cash withdrawal limit of Birr 75,000
  • Consumer’s account is subject for Daily Cash withdrawal limit of birr 10,000 via ATM
  • Consumer’s account is subject for daily Payment limit f600,000 Birr Via Mobile Banking and Point of Sale /POS/
  • Consumer’s account is not subject for any number of account transfer limit.

II. Passbook: – Replacement of Passbook

  • Fully Utilized: No Fee
  • Lost: 50 Birr
  • Damaged: 50 Birr

III. Additional Product Type

Fee To Open an Account: – No Fee

Maintaining The Account: – 100 Birr

Debit Card / ATM Card: –

  • First Debit /ATM Card: 50 Birr
  • Replacement Debit /ATM Card:50 Birr
  • Mini Statement :0.35 Cents
  • Pin replacement :20 Birr
  • Additional Account link: Free
  • POS encashment at branch (local):0.35% of the withdrawal

Cash Withdrawal

  • Branch Withdrawal:
  • Up to Birr 1,000: No fee
  • Birr 1,001-Birr 10,000: Birr 5
  • Above Birr 10,001: Birr 10
  • Using CBE ATM: 0.35% of the withdrawal amount
  • Using Other Bank’s ATM: 0.5% Of the withdrawal amount

Sending Funds

  • Via CBE Branches:
  • Birr 1-10,000: Birr 5
  • Birr 10,001-100,000: Birr 10
  • Above Birr 100,000: Fixed Birr 10 plus Birr 5 per 100 thousand maximum Birr 100
  • Via Mobile Banking:
  • Birr 1-50,000: No Fee
  • Birr 50,001-Birr 100,000: Birr 5
  • Birr 100,001- Birr 200,000: Birr 10
  • Birr 200,001- Birr 300,000: Birr 15
  • Above Birr 300,000: Fixed Birr 20
  • Own Account: No Fee
  • Fund transfer to other bank accounts (RTGS): Birr 50
  • Transfer to own wallet A/C: No Fee
  • Transfer To Tele Birr wallet and other wallets: Minimum Birr 10 (but for additional charge by negotiation with the respective partner)
  • Via Internet Banking: No Fee

Payment for Goods and Service

  • Payment Via Mobile Banking: No Fee
  • Payment at POS (Point of Sale) using ATM /Debit Card: No Fee

Standing Order

  • 20.00 Birr

Duplicate Statement of an Account

  • 20.00 Birr Per Page
  • Through Email: No fee

Balance Inquiry

  • Via CBE Branches: No Fee
  • Via CBE ATMs: No Fee
  • Via Other Bank’s ATM: 0.5 Birr per enquiry
  • Via Mobile Banking: No Fee

Inactive Account

  • Balance below Birr 100: Birr 25 per six months

Account Closure

  • Closing of an account: No Fee

Other Fee

  • Fees other than those listed above may apply to your account. Itemized information about all fees is available on our website at http://www.combanketh.et and will be accessible at all branches of CBE.

IV. Interest on Account Balance

Interest Paid on Account Balance?

  • Yes

Interest Rate

  • Ordinary Saving Account 7% Per Annum
  • Woman’s Saving Accounts 7.125% Per Annum
  • Youth Saving Accounts 7.125% Per Annum
  • Teen Youth Saving Accounts 7.125% Per Annum
  • Educational Saving Account 7.125% Per Annum
  • Wedding Saving Account 7.5% Per Annum
  • Holiday Saving Account 7.5% Per Annum
  • The interest rate for Other Saving Accounts depends on the Service Level Agreement /SLA/ between the bank and consumer

Calculation and Payment of Interest

Interest is calculated on the balance in your account on the minimum balance of the month and is credited in your account at the last business day of the month.

Example

  • Based on the current Interest, For Every 1000.00 Birr for 12 months you would receive 70 Birr.

V. How Long Do the Fund Transfer Take?

a) Sending Funds

Domestic Transfer

  • Fund transfer to another account: Immediately

International Transfer

  • If You are eligible for outgoing International Fund Transfer to another account and if the bank has a direct correspondence with receiving banks, it will take a day or 24 hours /otherwise three days /72 hours

b) Receiving Funds

Domestic Transfer

  • Fund transfer to another account: Immediately

International Transfer

  • If the bank has a direct correspondence with it will be credited to your account in a day or 24 hours /otherwise three days /72 hours.

VI. Other Things You Should Know

  • To Open an Account, You Will Need to satisfy some identification requirement, this can include providing document and information to verify your identity. Please request the branch for more detail.
  • If you do not make any transaction for consecutive 6(Six) Months, your account will be treated as inactive /dormant.
  • To close your account, you should contact your branch and request for more detail

VII. You May get assistance or loge your complain using the below listed Address

Do you have question or compliant?

Please call the Customer Contact Center at 951, email at cbecomu@combanketh.et, write via PO Box 255, or visit our website at http://www.combanketh.et to contact us regarding your question or complaint.

  • If you are not satisfied with how the complaint is handled,
    you can contact the National Bank of Ethiopia. Please call using 011-5-51-74-30,
    email at nbe.excd@ethionet.et,
    or write via PO Box 5550/2048. You can also visit their website at http://www.nbe.gov.et, or report physically to the office of NBE, Banking Supervision Directorate regarding your question or complaint.
  • This Key Facts Statement in general and fees and charges in particular are part and parcel of the terms and conditions made for Saving account service as per NBE directive FCP 01/2020.

Note: The information is current at the above date. Services, fees and interest rates may change.