Revised CATS Procedure Dec.20161

COMMERCIAL BANK OF ETHIOPIA December 1, 2016
the relevant accounting opening documents in her/his custody.
5.3 Account closing
I. Reasons for Closing an Account
Any account (a savings or a current account) may be closed when:
a) Requested by the customer;
b) Customer reports loss of passbook.
c) There is a court order to that effect;
d) The account holder is reported dead, bankruptcy & insanity
e) There is an inactive demand deposit account to be closed upon collection
of service charges over a period of time;
f) The account holder is on mal operation list (for Demand Deposit
account); and
g) Customer could not deposit a minimum amount of Birr 25.00 (twentyfive)
within one month after a savings account has been opened in her or
his name with a zero balance.
II.
Closure of Accounts
The Customer Services Officer/the Maker (at the front)
a) Receives a filled out form by the customer requesting the closure of the
account after the customer service manager interviewed her or him;
b) Receives the passbook (for saving Account);
c) Advices the customer to fill out the declaration form(refer form
CBECATS010), authenticates the signature and charges her or him as per
the prevailing terms & tariff for the replacement of the passbook, if the
closure is due to loss of the passbook;
d) Makes sure that there are no wrong debit/credit entries into the account,
as well as no credit/debit entries in transit;
e) Initiates the account closure process and effect payment or transfer the
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