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Erudite AfricaCenter of Excellence
← International Money Transfers and Remittances

Payout and send procedures

Module 03 / 5 · 70 min

Pay out and send transfers correctly: identification and Fayda, cash, account or wallet payout, conversion at the bank's rate, the 24-hour payout rule, outward eligibility and record keeping.

In this module you will learn to

  • Follow the payout steps from tracking number to signed receipt
  • Identify beneficiaries with Fayda and other acceptable IDs, and handle a customer without ID
  • Convert at the bank's rate or credit an eligible FCY account
  • Apply the 24-hour payout and charge rule cited for remittance service providers
  • Process an outward family support transfer within FXD/04/2026

Built on

  • Erudite Africa course specification: 1.m International Money Transfers and Remittances, Level 1 Beginner (Ethiopian context module, October 2026)
  • NBE Directive No. FXD/01/2024 and its amendment FXD/04/2026; NBE Proclamation No. 1359/2025
  • National Payment System Proclamation No. 718/2011 as amended by No. 1282/2023, and NBE Directive No. ONPS/09/2023 (as reported)
  • AML/CFT Proclamation No. 780/2013 (as reported), the NBE KYC/CDD directive and FATF Recommendation 16
  • NBE Directive No. FCP/01/2020 on financial consumer protection (as reported)
  • Erudite Africa training module: Domestic Banking Operations (October 2026), for diaspora account and incoming remittance procedures

Examples and companies are fictional. Bank practices are shown as typical Ethiopian practice, not as any one bank's policy. Always apply your own institution's approved policy and the current NBE directives.