The long-awaited national switch system, ET Switch S. C., a scheme which allows customers of any bank existed in the country to withdraw money from any ATM has gone operational today, April 20, 2016.
Et-Switch was established in 2011 by 16 banks, with 80.5 million birr registered capital.
The new system permits a client of any of the 16 banks to enjoy services including cash withdrawal and cheque balancing by the ATMs.
After being piloted for one year, all the banks’ online real-time and electronic banking solutions are centralized, according to Addis Fortune.
Clients are now also able to buy and be refunded through point of sale (PoS) machines.
There are close to 2000 ATMs operating across the country.