User Agreement

Please read carefully the Internet Banking User Agreement below.

1.      This Agreement Covers
This Agreement between you and Zemen Bank , ("Bank"), governs the use of Internet Banking, an electronic service that permits Zemen Bank S.C customers to access account information and financial services through the use of personal computers. In this Agreement, the words "you" and "your" refer to the undersigned account holder(s) and its authorized signatories. This Agreement and your use of Internet Banking are subject to Zemen Bank S.C General Terms and Conditions.


2.      Account Access / Security Procedures
You must designate the account(s) to be accessed through Internet Banking. In order to link different customer identification numbers, you must be a signatory of these accounts. You acknowledge by signing this Agreement that you have reviewed the security procedures protecting your accounts, and agree that those procedures are commercially fair and reasonable. We have established operating rules and security procedures for you to conduct on-line transactions on your account(s), to which rules and procedures you agree by your use of this Internet Banking service. Access to Internet Banking is by means of your username and a password unique to you. You must use your Access Procedure correctly to use the system. You acknowledge that use of an access password may permit access to your account(s) without further challenge or authentication.

You agree that:

(a)  we are authorized to process any instructions we received under your Access Procedure;

(b)  these procedures are commercially reasonable;

(c)  they afford reasonable protection against unauthorized use; and

(d)  use of your Access Procedure in connection with transactions on your account(s) gives rise to the conclusive presumption that such use is authorized.

You are solely responsible for securing and maintaining the confidentiality of your Access Procedure. This responsibility may not be waived by any Bank employee, agent or representative. You are liable for any claims, losses and/or damages arising from the use of your Access Procedure, whether authorized or unauthorized. You agree to notify us immediately if you believe your Access Procedure has been compromised or if your account(s) has been, or may be, accessed by an unauthorized person. In all events, you shall be obligated to review promptly all activity in the account(s) and promptly, in no event exceeding fourteen days (sixty days for transfers on the accounts of individual customers) of the Bank’s issuance of an advice or statement reflecting such activity, notify us of unauthorized access. If you fail to so notify us, we shall be relieved of all liability for activity by an unauthorized person.

3.      Applying for Additional Accounts and Services
If you apply for an account or service through Internet Banking, or ask to change an account or service you already use, you authorize Zemen Bank S.C to treat your application or request as if it had been made in writing and signed by you.

4.      What Internet Banking Will Cost
Internet Banking access is currently free of monthly charges. All other services offered by the Bank remain at their current pricing. All telephone charges incurred in connecting to Internet Banking are your responsibility.


5.      Changes in Services / Terms / Fees
Zemen Bank S.C may change the Internet Banking services and the terms, including fees, set forth in this Agreement at any time. You will be notified of any such change as required by applicable laws. You understand that by using Internet Banking after a change becomes effective, you have agreed to it.


6.      Cancellation
You may cancel this Agreement at any time by written notification to Zemen Bank .  Zemen Bank may cancel this Agreement and terminate your use of Internet Banking for any reason, at any time.


7.   Confidentiality at Zemen Bank Bank S.C
You have a right to confidentiality and financial privacy to which the bank is totally committed


8.      Limit of Liability


Zemen Bank agrees to make reasonable efforts to ensure full performance of Internet Banking.  The Bank will be responsible for acting only on those instructions sent through Internet Banking which are actually received. Zemen Bank does not assume responsibility for mal-functions in communications facilities not under its control that may affect the accuracy or timeliness of messages you send. Zemen Bank S.C is not responsible for any losses or delays in transmission of instructions arising or caused by any browser software. Zemen Bank is not responsible should you give incorrect instructions or if your payment instructions are not given sufficiently in advance to allow for timely payment or delays in mail service.

Any information you receive from Zemen Bank is believed to be reliable. However, it can only be provided on a best-effort basis for your convenience and is not guaranteed.  Zemen Bank is not liable for any deficiencies in the accuracy, completeness, availability or timeliness of such information or for any investment or other decision made using this information.

Zemen Bank is not responsible for system disruption caused by any virus-related problems.


9.      Customer Service / Help desk

If you need technical assistance with Internet Banking, or if you need to communicate with Zemen Bank , telephone Customer Service at (251) 115-001111 or write to:

Zemen Bank Head Office

Josef Tito Rd

  Josef &   Josef Tito Rd

10.  Electronic Messages
Because normal Internet e-mail transmissions may not be secure, you agree to contact us electronically only through Internet Banking. You also agree to receive communications regarding your account electronically and will not attempt to circumvent receiving any messages. You are deemed to have received any electronic messages sent to you when they are made available to you.


11.  Security
Access to Internet Banking is by means of a password unique to you. You must use your password correctly to enter the system. You agree that we are authorized to process any instructions we receive under your password, and that these procedures are commercially reasonable. You agree to notify us immediately if you believe your password has been compromised or if you believe your account(s) has been, or may be, accessed by an unauthorized party(ies).


12.  Account Transfers and Bill Payments
When you instruct Zemen Bank to transfer funds between your Zemen Bank accounts or pay a bill through Internet Banking, you authorize Zemen Bank to withdraw the necessary funds from the Zemen Bank account you designated. You agree that you will instruct Zemen Bank to make a withdrawal only when a sufficient balance is or will be available in your designated account at the time of withdrawal.  Zemen Bank will not be obligated to act on any withdrawal instruction from you if sufficient funds, including overdraft lines of credit, are not available in the account you designated.

Zemen Bank processes bill payments in two ways. Certain payments are made with an individual Zemen Bank cheque. All bank cheques are sent through the mail. The other method of processing payments is through electronic funds transfer.

In the case of payments made by cheque, the money will be taken out of your account on the date you specified when you gave us instructions. Generally, we mail the cheque on the next business day. However, if you specify a date which falls on a Saturday, Sunday or holiday, we will take the money out of your account on the next business day, but will not mail the cheque until the following business day.

In the case of electronic payments, the money is taken out of your account on the day we act upon your instructions. In most cases, this is the payment date you specified. Payment is effected the following morning. However, if you specify a date which falls on a Saturday, Sunday or holiday, we will take the money out of your account on the next business day, but will not process the payment until the following business day.

You may call Zemen Bank at the number listed in paragraph 9 of this Agreement to confirm that a billpayment was sent. All bill payments receive a reference number that appears on your monthly statement. Zemen Bank S.C is not responsible for postal or processing delays by the payee.

Subject to any responsibilities implied by law and which cannot be excluded, you agree to indemnify and hold harmless Zemen Bank , its officers, directors, employees and agents and all third party suppliers, from and against any and all liabilities, damages, awards, settlements, losses, claims and expenses, including reasonable attorney’s fees and expenses and costs of investigation (collectively, "Damages") resulting from third party claims to the extent such claims, if brought by you directly against Zemen Bank, would be excluded pursuant to paragraph 8 of this agreement.


13.  Severability
In the event any one or more of the provisions of this Agreement shall for any reason be held to be invalid, illegal or unenforceable, the remaining provisions shall remain valid and enforceable.


14.  Notices
Notices to the Bank shall be in writing and sent to the address in paragraph 9 above.


15.  Governing Law
This Agreement shall be governed by the Banking Act of Ethiopia and other applicable laws of Ethiopia and funds transfer rules.