Commercial Bank of Ethiopia Service charge update

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Below is the statement from CBE regarding their new service charge updates.

Dear customers,

It is known that the Commercial Bank of Ethiopia will soon make payment adjustment on the services provided.

Based on feedback from our customers regarding revised service fees, we have made further fee revisions on some services.

The revised services and revised fee are as follows:

1. Account-to-account money transfer service is free of charge for newly opened accounts in branches or mobile banking.
2. Inactive Accounts opened under Mudarabah contract and inactive for a long time are exempt from payment;
3. Account-to-account money transfer service fee performed by the branch has been revised as follows:

• From Birr 1 to 10,000 – Birr 5
• From Birr 10,000 to Birr 100,000 – Birr 10
• More than 100,001 Birr – 10 Birr plus 5 Birr for every 100 thousand (not more than 100 Birr)

1. The fee for transferring money from one account to another customer’s account through the mobile banking service has been revised as follows:

• From 1 to 50,000 silver – free
• From Birr 50,001 to Birr 100,000 – Birr 5
• From Birr 100,001 to Birr 200,000 – Birr 10
• From Birr 200,001 to Birr 300,000 – Birr 15
• More than Birr 300,001 – Birr 20

1. A service fee of Birr 50 will be charged for transferring money to an account in another bank through mobile banking service (RTGS);
2. From P2P money transfer through ETSWITCH, a service fee of 5 Birr plus ETSWITCH fee will be charged;
3. There is no service charge for depositing less than 50 Birr into CBE Birr account;
4. When there is money exchange in CBE Birr more than 3 times a day, the service fee is considered as follows:

• Less than 50 silver – free
• From Birr 51 to Birr 500 – Birr 6.45
• From Birr 501 to Birr 2,000 – Birr 7.60
• From Birr 2,001 to Birr 3,000 – Birr 8.18
• From Birr 3,001 to Birr 4,000 – Birr 9.33
• From Birr 4,001 to Birr 5,000 – Birr 10.48
• From Birr 5,001 to Birr 6,000 – Birr 11.63
• More than 6,001 rupees – 0.2 percent of the amount due Commercial Bank of Ethiopia A bank you can always trust!