CBE’s New Service Fees Spark Outcry as 50 Birr Charges Hit Small Transfers
The Commercial Bank of Ethiopia (CBE) has implemented its updated service fees, triggering immediate and widespread dissatisfaction among its customer base. Social media platforms are flooded with complaints as users discover the impact of the new charges, particularly on smaller transactions.
# Customer Backlash Over Disproportionate Fees
Screenshots circulating online highlight a significant concern: interbank transfers below ETB 1,000 now incur a flat fee of ETB 50. This flat rate is being criticized as excessively high, especially when applied to smaller amounts. For instance, a transfer of ETB 500 is now subject to a 10% fee, a cost considered unusually punitive for everyday users managing modest sums. CBE account holders are expressing their frustration on various social media channels like Facebook, X, and Telegram, labeling the fees as unfair. Comparisons are being drawn to private banks and mobile wallet services, where similar transactions often come with lower charges. A key point of contention is the perceived lack of transparency; customers claim CBE did not adequately communicate the specifics of the new fee structure before its implementation, leading to confusion and resentment.
The sudden imposition of these charges has clearly struck a nerve with CBE customers, raising questions about the bank’s approach to serving its diverse user base, particularly those who rely on small-value transactions. The lack of prior detailed communication has only amplified the negative reaction, potentially pushing customers to explore alternative banking solutions offered by fintech competitors.
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