CBE Internet Banking Terms and Conditions

1. General Provisions

a) The words and phrases used throughout this agreement will have the meaning and interpretations set forth under Internet and Mobile Banking procedure and Internet Banking user guide.
b) The customer [user] shall be bound by the terms and conditions of this agreement upon accepting or using the internet banking service offered by the bank via its website.
c) The term user and customer will be used interchangeably throughout this agreement.
d) The clause headings in this agreement are only for convenience and do not affect the meaning of the relative clause.


a) In this agreement, Amharic Language shall be used in preference to English on any interaction between the bank and the User.
b) English Language shall be used when the transaction specifically requires so. In such case, the Contract, all correspondence and documents relating to the Contract exchanged by the Bank and the user made in English shall remain valid and enforceable.

2. Services

2.1) The Personal Internet Banking Services enable the Customer to:
a) enquire about balances in his/her Account(s);-
b) obtain details about Transactions in his/her Account(s);
c) obtain statement of Account(s);
d) Proceed with transfer of funds.
e) Effecting payments to third parties, including bill payments to predefined CBE customers within Ethiopia.
f) Requesting for Stop Payments on cheques
g) Applying for a Letter of Credit, etc.
The Customer acknowledges and agrees that the Bank may, from time to time add to (including adding new banking services or products), vary, alter, suspend or remove any of the Services, without giving notice to the customer. An updated list of the Personal Internet Banking Services will be available at all times on the Bank?s websitehttp://www.combanketh.et/.
2.2) The Customer agrees that the Bank may, at any time and from time to time set, vary or cancel the Bank Transaction Limit, the maximum Daily Transaction Limit or Transaction Limit for any transactions types, facilities, services and products that may be carried out through the Personal Internet Banking Services, and vary their frequency and availability period, upon posting it the bank?s official website.

3. Service Charges and Fees

a) Based on the prevailing terms and tariff set by the bank from time to time, the customer/user agrees to pay all service charges and fees.
b) The User/customer authorizes the Bank to recover the service charges by debiting one of the accounts of the User/customer.

4. Communications through Electronic Means

a) Documents sent by electronic delivery will contain all the information as it appears in the printed hard copy version as prepared and distributed by the originator, with the possible exception of graphic insertions such as photographs or logo types.
b) Electronic delivery may be in the form of an electronic mail, an attachment to the electronic mail, or in the form of an available download from the Website.
c) The Bank will be deemed to have fulfilled its legal obligation to deliver to the User/customer any document if such document is sent via electronic means. Failure to advise the Bank of any difficulty in opening a document so delivered within twenty-four (24) hours after delivery shall serve as an affirmation regarding the acceptance of the document.

5. Password

a) Upon approval of the application, the customer will be receiving a Login ID and Security Token with its initial password to access the Internet Banking Service.
b) On accessing the Service for the first time registration, the User/customer shall enter the new Password, Token Serial Number and User Id through the relevant option.
c) The User shall act in good faith, exercise diligence in keeping the User ID, Security Token and the Password in secrecy. At no time and under no circumstances the customer shall not disclose the same to any other person.
d) The User shall be solely responsible for maintaining the secrecy of the password, Security Token Password and ID and shall be fully responsible for any accidental / negligent and/or unauthorized disclosure of the same to any other person and shall bear the risks of the misuse for unauthorized purposes.
e) In case the User forgets the Password, a new Password may be obtained from the Bank against a written request. Such replacements shall not be construed / deemed as part of contract. In such an event the Bank shall provide the new Password within a reasonable period.

6. Security

The Bank shall take reasonable care to ensure the security of and prevent unauthorized access to the Internet Banking service using technology reasonably available to the Bank. However, the Bank shall in no way be liable for loss or damage occasioned by breaches to the system or other unauthorized or unlawful access thereto, whether intentional or negligent on the part of its staff or any other party whatsoever.

7. Software and Hardware

a) The Bank will advise from time to time as to the internet software such as browsers which are required for accessing and using the Internet Banking Service.
b) For a The Loss, damage, misplaced or stolen Hardware Security Token, the User shall inform the Bank promptly and request for a replacement to enable him/her transact on banks Internet Banking service. The cost of Token and associated courier cost shall also apply as per the Banks Tariff.
c) User Hardware Security Token is a devise that guards and protects Banks Internet Banking transactions. In addition, for User its own protection and that of the system, always take required precautions

8. Authority to the Bank

a) Internet banking transactions in the User?s Account(s) are permitted only after authentication of the User ID, Password and OTP (One time Password) of the User.
b) The Bank shall have no obligation to verify the authenticity of any transaction received from the User through Internet Banking or purporting to have been sent by the User via Internet Banking other than by means of verification of the User-ID, OTP and the Password.
c) Illegalor improper use of the Service shall render the User liable for payment of financial charges as decided by the Bank or will result in the suspension of the operations through Internet Banking.
d) The Bank?s own record of transactions maintained through computer systems or otherwise shall be accepted as conclusive and binding for all purposes unless any discrepancy is pointed out within fifteen days from the date of access of his / her / their / its account by the User.

9. Instructions

a) All instructions for operating the Internet Banking Service shall be given to the User via the internet in the manner indicated by the Bank.
b) The User is responsible for the accuracy and authenticity of the instructions provided to the Bank and all such instructions, as understood and acted upon by the Bank in good faith, shall be irrevocable and binding on the User whether given by the User or by any other person purporting to be the User.
c) Where the Bank considers the instructions to be inconsistent or contradictory, it may seek clarification from the User or act upon the instructions as it may think fit. Information relating to any account or transaction made available on the Bank website is for reference only.

10. Transaction Processing

a) All the requests for instantaneous financial transactions will be given effect instantaneously.
b) The User shall not hold the Bank responsible for not processing/effecting any transactions in case the Bank does not receive instruction to this effect even though the customer has forwarded the same.

11. Funds Transfer

a) The User shall not use or attempt to use Internet Banking for funds transfer without sufficient funds in the relative account or without a pre-existing arrangement with the Bank for the grant of an overdraft.
b) The Bank will endeavor to affect such funds transfer transactions received through Internet Banking provided there are sufficient funds available in the User?s account.
c) The Bank shall not be liable for any omission to make all or any of the payments or, for late payments due to circumstances beyond the reasonable control of the Bank.
d) We reserve the right to place limits on the frequency and amounts of any transfers or refuse to make transfers between certain accounts.

12. Bill Payments /utility Payment/ Prepaid Mobile Recharge

a) The Bank shall not be liable for non-payment due to insufficient balance or circumstances beyond the reasonable control of the Bank, including technical problems of connectivity, computer breakdown, and non-availability of communication links.
b) All disputes such as excess billing, disconnection of service or Service, wrong credit or debit by the Bank, shall be resolved by the User only, and the Bank shall in no way be responsible for the same.
c) Applicable as and when these facilities are introduced by the Bank.

13. Accuracy of Information

a) The User is responsible for the correctness of information supplied to the Bank through the use of Internet Banking or through any other means such as electronic mail or written communication.
b) The Bank accepts no liability for the consequence arising out of erroneous information supplied by the User. The User shall at periodic intervals check the correctness of the statement and shall notify the Bank about any discrepancies that may occur.
c) The User shall hold the Bank harmless against any loss, damages, etc. that may be incurred / suffered by the User if the information contained in the above said outputs turns out to be inaccurate / incorrect.

14. Liability

a) The User shall be solely liable under all circumstances for any loss or damage that may be incurred by the User and other persons, by reason of any unauthorized access or transactions occurring through the Internet Banking Service.
b) The Bank shall under no circumstance be held liable to the User if the Internet Banking is not available in the desired manner for reasons including but not limited to natural calamities, floods, fire and other natural disasters of any kind, legal restraints, failures in telecom services, power breakdown or UPS breakdown, software or hardware failure and or error or any other reason.
c) The Bank shall in no way be liable for any loss or damage that may occur due to hacking of the account by any person or any such other activity which fits into the definition of ?cyber related crime? as accepted internationally.
d) The Bank shall under no circumstances be liable for any damages whatsoever whether such damages are direct, indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character or nature whatsoever and whether sustained by the User or by any other person.
e) Illegal or improper use of the Internet Banking shall render the User liable for payment of financial charges as decided by the Bank or will result in suspension of the operations through the Internet Banking.

15. Indemnity

The User hold the Bank harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which the Bank may at any time incur, sustain, suffer or be put to as a consequence of or by reason arising out of providing Internet Banking Service or by reason of the Bank in good faith taking or refusing to take or omitting to take action of any instruction given by the User.

16. Disclaimer of Warranties

a) The User expressly agrees to use of the website and or Internet Banking Service is at his/her sole risk and responsibility which is provided on an "as is' and "as available" basis.
b) The Bank does not warrant that access to the website and or Internet Banking Service shall be uninterrupted, timely, secure or error free nor does it make any warranty as to the results that may be obtained from the website or use, accuracy or reliability of Internet Banking Service .
c) The Bank will not be liable for any virus/spam/phishing etc. that may enter the User's system as a result of the User using Internet Banking Service. Bank does not guarantee to the User or any other third party that Internet Banking Service would be virus/spam etc free.

17. Disclosure of Personal Information

a) The User agrees that the Bank or authorized agents or service provider may hold and process his/her/its personal information on computer or otherwise in connection with Internet Banking Service as well as for statistical analysis and credit scoring.
b) The Bank may disclose, in strict confidence, to other institutions, such personal information as may be reasonably necessary for reasons inclusive of, but not limited to,
? For participation in any telecommunication or electronic clearing network.
? Incompliance with the laws of Ethiopia.
? For fraud prevention purposes.

18. Bank?s Lien

The Bank shall have the right of setoff and lien, irrespective of any other lien or charge, present as well as future on the deposits held in the User?s accounts whether in single name or joint name(s), to the extent of all outstanding dues, whatsoever, arising as a result of the Internet Banking service extended to and/or used by the User.

19. Proprietary Rights

a) The permission given by the Bank to access Internet Banking will not convey or confer any proprietary or ownership rights in the above software underlying the Internet Banking service as well as other Internet related software which are required for accessing Internet Banking.
b) The User shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying Internet Banking or create any derivative product based on the software

20. Records of the bank: Proof

a) The Customer agrees that the Bank?s records and recordings of the Transactions, Instructions, communications, operations or any other transactions made or performed, processed or executed through the Personal Internet Banking Services by the Customer or any person purporting to be the Customer, acting on Customer?s behalf or purportedly acting on Customer?s behalf, with or without the Customer?s consent, shall be binding and conclusive on the Customer for all purposes whatsoever and shall be conclusive evidence of the transaction and Customer?s liability to the Bank.
b) The Customer further agrees that all such records constitute, as such, admissible evidence and that the Customer shall not challenge or dispute the admissibility, reliability, accuracy or the authenticity of the contents of such records merely on the basis that such records were incorporated and/or set out in electronic form or were produced by or are the output of a computer system, and hereby waive any of Customer?s rights (if any) to so object.
c) In case the Customer considers that there has been an error or irregularity in the recording system of the Bank, he/she will be allowed to prove it. If the Customer has not informed the Bank in writing of any error or omission contained in any Account statement, or in the execution of any instructions, within 10 days of the date on which the Customer?s Account was credited or debited, the Customer shall be deemed to have accept the evidence.
d) The Customer acknowledges and agrees that signed fax copies, printed pdf format of signed documents sent by e-mail by the Bank shall be deemed to be written documents and shall have the same evidential value asoriginal documents.

21. Notices

a) Notifications by the Customer to the Bank must be made in writing by post to:
Commercial Bank of Ethiopia
________________________ Branch
Addis Abeba
b) Notifications by the Bank to the Customer must be made to the Customer in writing by post or to the Customer?s email address most recently notified to the Bank.
c) If by post, the notice will be taken to have been received______________ days after posting by one party to the postal address most recently notified by the receiving party and if via email ______________ days after transmission.
d) As regards the notification made pursuant to Clause C (Special Events and Compulsory Notification by the Customer), the Customer shall proceed to the notification by e-mail.

22. Amendment

The Bank has absolute discretion to amend or supplement any of the terms and conditions at any time and will endeavor to give prior notice of fifteen days for such changes wherever feasible except for changes to interest rates and/or other variations that are subject to market changes. Such change to the Terms shall be published in the web site of the Bank and it will be deemed to be proper notice to the User.

23. Termination

a) The User may request for termination of the Service at any time by giving a written notice of at least 15 days to the Bank. The User will remain responsible for any transactions made on his Internet Banking Account(s) through Internet Banking Service prior to the time of such cancellation of the Internet Banking Service.
b) The Bank may withdraw the Service anytime provided the User is given reasonable notice under the Circumstances. If the Internet Banking Service is withdrawn by the Bank for a reason other than the breach of the terms and conditions by the User, the Bank's liability shall be restricted to the return of the annual charges, if any, recovered from the User for the period in question.
c) The Bank may suspend or terminate Internet Banking Service facilities without prior notice if the User has breached these terms and conditions or the Bank learns of the death, bankruptcy or lack of legal capacity of the User.

24. Commencement

The user shall be bound by the terms and conditions of the contract upon subscribing to the Internet Banking Service.

25. Governing Law and Jurisdiction
a) This Agreement shall be governed by and construed in accordance with Ethiopian law and the appropriate policies and Procedures of the bank.
b) Courts of Ethiopia shall have jurisdiction over any litigation arising out of the interpretation and/or execution of this Agreement. This shall not limit the right of the Bank to settle any dispute amicably.

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