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CBO provides ATM card linked to saving / checking account of the customer. CBO card is convenient for your life style.
Let you bank virtually, All the time, 24 hours a day, 7 days a week.
It also enable you perform financial transaction, in a public space through computerized telecom device, point of sale /POS/ machine.
CBO card allow you to access your account at any ATM and POS machine, in the country.
Using electronic payment system conducts a range of financial transactions through our website.
Execute a bunch of financial transactions at CBO on line via the internet.
CBO online services:-
Mobile and SMS banking allow you to conduct financial transaction using a mobile device like mobile phone or tablet via mobile banking Apps.
Perform online banking using your smart phone or other mobile devices.
Bank anywhere at any time.
CBO receives money sent from all over the world through its SWIFT Code CBORETAA and 16 international money transfer agents. The bank delivers foreign remittance on its 250 branches distributed through out the country.
The Trade Service is one of the core processes of the bank entrusted with the task of international banking services.
The services are now provided at all branches of the bank with a single contact point of customer service relationship officers assigned for this purpose only.
Documentary credit (L/C): is a written undertaking by a bank given to the seller at a request and/or the instruction of the buyer to make payment or accept and pay bill of exchanging (draft) drawn by the seller up to a stated sum of money within a prescribed time limit and against stipulated documents.
Import-available by sight payment/negotiation payment/deferred payment*/acceptance payment*
Export-payment available by sight/negotiation/acceptance of bills
*If approved by the National Bank of Ethiopia
Documentary collection: is a method through which banks handle a seller's commercial documents with or without financial documents in accordance with instructions received from the seller in order to deliver the documents to buyer (importer) against payment and/or acceptance or against other terms and conditions.
Import-available by sight payment
Export-available by sight payment/acceptance payment
Advance payment: is a method through which a seller receives payment from a buyer prior to shipment or the agreed upon goods or rendering the agreed upon service.
Import-Payment though bank transfers
Export-Payment through bank transfers, traveler cheques, cash (as long as it is declared).
Consignment basis payment: It is a method of payment in which the title to the goods remains with the seller until an agent (distributor) in foreign country sells them. Payment is made to the seller if and when the agent (distributor) sells the goods.
Export- it is applicable to perishable items: fruits, flowers, meat, molasses, etc as approved by the National Bank of Ethiopia
Guarantee: A letter of guarantee issued by an issuing bank/guarantor is a written undertaking by the bank to compensate (pay sum of money) to the beneficiary (local or foreign) in the event that the obligator/principal fails to fulfill his/her /its obligations in accordance with the terms and conditions of the guarantee.
Franco valuta license(permit): is a license issued to importers of goods on which no foreign exchange is payable.
Small export items license (permit): is a license issued for small export items to tourists, foreign residents of Ethiopian nationals who wish to take souvenir, samples, gifts, repairs, replacements, exhibitions and personal effects and belongingness, etc.
Loans and Advances
Overdraft Facility Allow customers to draw beyond the deposits of their current accounts, for a viable and ongoing business.
The right to withdraw a specified amount of fund over the Overdraft limit as working capital.
Merchandise Loan Facility
A credit facility provided against merchandise or documentary evidence as a collateral for short term.
Pledge or collateral
Import Letter of Credit Facility
A facility provided to importers, on payment of a certain percentage of the value of the document while opening a Letter of Credit.
Pre-Shipment Export Credit Facility
A Facility extended for expenses until the time of shipment:
Revolving Export Credit Facility
An advance extended to exporters to bridge their temporary working capital requirement upon presentation of all valid and acceptable export documents, except bill of loading.
Letter of Guarantee Facility
A written promises by the bank as compensation to the beneficiary in the event that the obligor fails to honour his/her/its obligations, in accordance with the terms and conditions of the guarantee/agreement/contract.
Types of Letters of Guarantee rendered:
Import Letter of Credit Settlement Loan
A loan rendered by converting the outstanding import letter of credit document’s value either to a merchandise loan facility or a term loan.
Types of Term Loan
Agricultural Term Loan
A loan rendered for purchase of agricultural inputs and Agricultural Investment.
Motor Vehicle Loan
Loan provided for the purchase of new motor vehicles for borrowers in business sectors.
Construction Machinery Loan
A loan delivered for the purchase of new construction machinery.
• Concrete mixer mounted on trucks
Equipment/Machinery Lease Financing
Available for either of the parties to the lessee agreement:
General Eligibility Criteria for Loan
All customers applying for any type of loan/facility at CBO must fulfill the following general eligibility criteria:
CBO provides several deposit products for natural and legal persons who can fulfill the banks and legal requirements.
It provides principal security and modest interest rate depending on the specific types of saving account. The minimum balance to open is birr 50.00
Demand Deposit Account
Current or checking account, none interest bearing. The minimum amount required to open is birr 500.00
Fixed Time Deposit Account
Deposit received for a certain fixed period of time with negotiable interest rate based on magnitude of the fund and time period. The minimum balance acceptable for fixed time deposit is birr 100,000.00.
Certified payment order, endorsable and valid for six months.
ECX Related Account
Ethiopian Commodity Exchange Account Opened to pay- in account for the member of ECX to facilities the trade of commodity at trading centers.
Foreign Currency Account
An account in which the source of fund is overseas and can be maintained in hard currency or in birr. The minimum amount required for an initial deposit to open current accounts shall be USD 100 or its equivalent in any of the eligible foreign currencies.
Special Saving Account
An interest bearing account operated by cheque. No pass book is required.