Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
1) The member is the legal owner of this account;
2) The member may give the ECX power of attorney and thereby
empower it to request for debits;
3) No member may withdraw money from this account;
4) The ECX will send electronic balance enquires for this account;
5) The ECX will send electronic debit instructions for this account;
6) No checkbook may be issued on this account; and
7) No payment cards may be issued on this account.
ii. Member for Client Pay-in (to ECX) –Optional for trading on behalf of
clients
1) Member is the legal owner of this account;
2) Member signs Power of attorney giving ECX sole right to request
debits;
3) No Member withdrawals allowed on this account;
4) ECX will send electronic balance enquiries for this account;
5) ECX will send electronic debit instructions for this account;
6) No cheque book issued on this account;
7) No visa card issued on this account.
iii.
Member pay-out (from the ECX)—mandatory for members to
trade on their accounts:
1) The member is the legal owner of this account;
2) Cheque books may be issued if required;
3) The ECX will send electronic credit instructions to this account;
4) The member has an exclusive right to request debits; and
5) This can be an existing customer account.
iv.
Member for Client Pay-out (from ECX)- Optional for trading on
behalf of clients
CATS Procedure |
v