BANKING SCHEMES

International Banking

Incoming Transfers

This refers to remittances to be received in favour of beneficiaries who are in Ethiopia. Dashen Bank is obliged by law to freeze incoming transfers to individuals/enterprises engaged in money laundering or terrorist financing. These transfers may take one of the following forms: -

a) Bank-to-Bank transfers.

Transfer by SWIFT is one mode and it is reliable and fast. Beneficiaries will get transferred amount through a/cs maintained at Dashen Bank/other commercial banks/ or in cash against presentation of valid I.D. cards (valid National/Regional/Employer I.D or Passport). In case of enterprises, bank a/c will be credited or in cash against to formally delegated person /in written form/ of the enterprise.

Deposit of financial instruments (travelers’ checks, bank drafts, personal checks, etc.) The bank has sole discretion to handle on collection basis (to pay value upon collection of proceeds) or to pay at the time of deposit. Financial instruments are accepted at full risk of depositor as they will be mailed by courier companies outside the control of Dashen Bank. The bank will not pay value (in case of collection) or collect back amount paid (in case of payment at deposit) in case of loss of checks in transit. Depositor is obliged to cover all bank charges. This type of transfer is unadvisable to beneficiaries as risk of loss in transit is high. We strongly advise transfer by SWIFT or remittance service providers.

b) Remittance Service Providers

Dashen Bank accepts remittances from different Remittance Service Providers such as Western Union.