Commercial Bank Introduces Cash Deposit ATM

Nov 30 , 2019

Commercial Bank of Ethiopia (CBE), the state-owned bank, introduced an automated teller machine (ATM) that allows customers to deposit money in their accounts. The Bank started piloting the service at a terminal located at its Finfine Branch, located in the capital. Customers can deposit cash in five Birr, 10 Br, 50 Br and 100 Br denominations. Customers can also deposit money into accounts from cheques. The machine also automatically rejects forged cash, according to a statement from the Bank. After completing the pilot stage, the Bank will start the service on 200 ATM terminals prepared for the service, according to Yeabsra Kebede, communications manager at CBE. Out of the 22 million account holders of the bank, 30pc of them use digital banking services. As of June 30, 2018, the Commercial Bank operates a total of  1,708 ATM terminals. However, all of the terminals have been used to withdraw cash along with services such as checking balances and processing money transfers.


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