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.
Services available:-
Bank anywhere at any time.
Documentary Letter of Credit (LC)
The letter of credit is treated as import letter of credit on a buyer’s side and as export letter of credit on a seller’s side. CBO renders the following types of Letter of Credits:
Irrevocable Letter of Credit
It is a letter of credit bearing a term on an instrument to indicate that it cannot be amended or terminated prior to its expiry date without the consent of parties involvedthat is the applicant and the beneficiary of the Letter of Credit.
Confirmed LC
A confirmed letter of credit is one in which another bank, on the instructions of the issuing bank, has added a confirmation that payment will be made as long as compliant documents are presented. This commitment holds even if the issuing bank or the buyer fails to make payment.
Standby Letters of Credit
It is a document issued by a bank, guaranteeing payment on behalf of a client. A standby letter of credit is used as support where an alternative, less secure, method of payment has been agreed. Unlike other letter of credit, a standby letter of credit is NOT meant to be used for payment instead it is used as a form of "back-up" guarantee. If the exporter fails to receive payment from the importer he may claim under the standby letter of credit.
Revolving Letter of Credit
The revolving credit is used for regular shipments of the same commodity to the same importer. It can revolve in relation to time or value. If the credit is time revolving once utilized it is re-instated for further regular shipments until the credit is fully drawn. If the credit revolves in relation to value once utilized and paid the value can be reinstated for further drawings. The credit must state that it is a revolving letter of credit and it may revolve either automatically or subject to certain provisions. Revolving letters of credit are useful to avoid the need for repetitious arrangements for opening or amending letters of credit.
Transferable Letter of Credit
A transferable letter of credit is one in which the exporter has the right to request the paying, or negotiating bank to make either part, or all, of the credit value available to one or more third parties. This type of credit is useful for those acting as middlemen especially where there is a need to finance purchases from third party suppliers.
Back-to-Back Letter of Credit
A back-to-back letter of credit can be used as an alternative to the transferable letter of credit. Rather than transferring the original letter of credit to the supplier, once the letter of credit is received by the exporter from the opening bank, that letter of credit is used as security to establish a second letter of credit drawn on the exporter in favor of his importer.
Documentary Collection
Import /Export CAD
Handling commercial documents with or without financial documents in accordance with instructions received from the seller. Documents delivered to buyer (importer) against payment and/or acceptance or against other terms and conditions through importers bank.
Advance payment
Facilitate payment for the seller from a buyer prior to shipment or rendering of service.
Consignment basis payment
A payment in which the title to the goods remains with the supplier until a distributor in foreign country sells them. Payment is to be made to the supplier when the distributor sells the goods.
Foreign Bank Guarantee
A letter of guarantee issued by the bank to compensate to the Beneficiary in the event that the Obligor/Principal fails to honor its obligations in accordance with the terms and conditions of the guarantee/agreement/contract.
FOREX
Foreign Exchange service CBO renders comprise of four major categories
Remittance
Prompt remittance services or a transfer of funds from remitter through intermediary banks or money agents or Demand Draft.
CBO International money transfer service partners:
Western Union, Dahabshiil, X-press Money, Taran Express, MoneyGram,Juba Express, Amana Express, Kaah Express, Bakaal Express, AMAL Express./Logo of the mentioned agents can be utilized/
Swift code of the bank is also used for International money transfer service. Swift Cod of CBO is CBORETAA.
Cash foregin currency buying and selling
Buying and selling a foreign currency notes used as a legal tender in the country of issue.
Traveler's check buying and selling
Purchasing from travelers upon the bearer's endorsement against the original signature on the draft and receiving from Corresponding Banks on consignment or purchase basis for sale to travelers abroad respectively.
Accept Foreign Bank checks for Deposit
Deposit foreign checks for clearance and sent to the issuer bank in foreign country. Deposit accepting bank may either purchase the bill (OBP) or sent in collection basis (OBC).
Eligibility Criteria for Trade Services
Customers that request for the Trade Services should fulfill the following criteria:
Loans and Advances
Overdraft Facility Allow customers to draw beyond the deposits of their current accounts, for a viable and ongoing business.
Overdrawal
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.
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.
In Design/pictures/
• Dozers
• Graders
• Loaders
• Excavators
• Scrapers
• Rollers
• Cranes
• 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 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.
Besides our dedication to serve the society by providing full-fledged banking services, the bank persistently discharges its social responsibilities for a better life within the communities. Our bank believes that being socially responsible is behaving ethically and with sensitivity toward social, cultural, economic, and environmental issues. Accordingly, we continued to promote social responsibility through sustainable practices. Thus, we delivered value on every front to our customers, our people, and communities.
Our bank uses different approaches as corporate entity, to accomplish its social responsibility, and donation is one of it. In the FY 2012/13 we were involved in various social aspects via donations and sponsorships to sectors like public health, education, community development, environmental protection efforts, natural disasters, and other humanitarian endeavors. In this preceding FY, our bank participated in the various social activities like funding medication expense, sponsorship to socio-cultural novels, and funds made to self-help groups participating on community development.
CBO participated on community development by collaborating with Oromia Development Association (ODA), which is contributing to sustainable development, focusing primarily on the rural community, through construction of basic infrastructure, provision of social services such as education, health, water, preserving and maintaining the ecological balance. CBO supported the association on fund raising program having targeted to construct boarding schools.
Likewise, CBO had also been involved in environmental protection issues by working together with an indigenous non-profit and non-governmental organization like Association for Development and Biodiversity Conservation, which is working overall the country. The bank sponsored the forum organized by this association with the motto of "conservation for a better quality environment through participation!'' evolved out on the humanitarian initiatives, dedicated for development, biodiversity, conversation and mitigation of climate change.
Our bank also participated in supporting humanitarian endeavors. It thus supported 'Nehemiah Autism Center', which is serving autistic children to reach their full potential. It too had backed 'Macedonians Humanitarian Association' that works in supporting elderly people and people with disabilities by providing them with shelter, clothing, food, and other basic services. More generally, the bank participates in the development endeavor of the country via various mechanisms. At CBO, therefore, socially responsible approach is at the heart of what we do.
Register and join the next generation nancial services for free.
Cooperative Bank of Oromia (CoopBank), in collaboration with Ebirr is providing the next generation Mobile Financial Services. Now you can register and join the world of mobile and internet banking solutions.
COOPay-Ebirr Services:
To register for the service, please:
You can easily create your CoopBank’s account and get it linked with your mobile wallet just by visiting one of our branch offices.