Regulatory Alerts2022-10-03
Added · Updated
EATS Fees and Penalties Directive No. EATSO/01/2022
The National Bank of Ethiopia establishes fees, penalties, and incentives for participants in the Ethiopian Automated Transfer System (EATS) and the Addis Ababa Check Clearing Office (ACCO). The directive sets specific charges including a Birr 50,000 joining fee, annual membership fees of Birr 30,000 for EATS and Birr 100,000 for ACCO, and transaction fees ranging from Birr 5 for low-value items to Birr 50 for RTGS transactions. It imposes penalties of Birr 30,000 for rule violations, insufficient fund cancellations, unjustified returns, and delayed crediting, alongside a Birr 20,000 daily charge for delayed payment instruction submission. Participants may receive a 10% discount for early settlement or high volume activity, while late-hour RTGS transactions incur a 20% surcharge, with the directive entering into force on October 3, 2022.
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