Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
9. OTHER ISSUES RELATED TO OPENING, COLLECTION AND
PAYMENT
9.1 Handling of Inactive Accounts
i. Current and savings accounts, which remain idle or dormant with no
movement for a period of six and twelve consecutive months
respectively, shall be changed by the system to “Inactive accounts,”
regardless of their balances;
ii. Inactive current accounts with a balance of less than Birr 500.00 are
subject to service charges as per the terms and tariff semi-annually;
iii. Accounts that carry balances of below the amount of the charge will be
closed as part of the collection of the service charges thereon;
iv. The customer service manager at the account holding branch can change
the status from inactive to active when all the following requirement are
fulfilled;
a) The customer presents renewed and valid ID and requests for
activation of his/her account;
b) The customer adequately explains about the previous transactions
;and
c) Minimum of four transactions in the last half six months are
conducted, excluding interest transactions.
v. Withdrawal from Inactive saving account can be effected at any online
branch whereas withdrawal from inactive demand deposit account shall
only be entertained at the account holding branch only. When
entertaining withdrawal from inactive saving account, the following
conditions shall be fulfilled;
a) The customer service manager should interview the customer in
person;
b) Retain the photocopy of the customer’s ID; and
c) The customer presents his/her passbook;
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