GtBank: Funds Transfer From Savings Accounts Suspended - Business - Nairaland
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Quickteller Suspends Funds Transfer To Ecobank / 3rd Party Transfers From Savings Account Now Available On Internet Banking (gtb) / UBA Charges COT On Savings Accounts: Be Warned! (2) (3) (4)
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| GtBank: Funds Transfer From Savings Accounts Suspended by Papasboy: 12:08am On Aug 01, 2012 |
CBN Introduced a Cashless Policy in April 2012 to encourage Cashless transaction and further strengthen E- Banking System in Lagos, Nigeria's Commercial Nerve Center. GT Bank today 31st July 2012 has Suspended Funds Transfer From Savings Account, Which Means You can Only Transfer Funds From your Current Account to anyone including other GT Bank Customers. ( To generate COT at all cost ) What happens to GT Bank Customers Without CURRENT Account ? Is it Legal That a bank has to force Customers to Open/Maintain a Current Account So they can compulsorily Charge COT on every transaction ? Why were Customers Not given prior Notice of Embargo on Funds Transfers FROM Savings Account ? Is GT Bank on the Brink of Collapse and is embarking on Aggressive Generation of Funds to Survive ? ( Remember Intercontinental bank 25,000 Naira Minimum Deposit ) Is there no CBN Regulation that Guides These Banks ? You cannot Withdraw More than 500,000 Naira Cash, and you cannot CASHLESSLY transfer your own Money to pay for Goods or Services Rendered EXCEPT you Pay Bank COT and/or Cashless Policy Charges. I just Hope We will get an "Apologetic Public Notice" that it was a "Technical Error" from the IT Guys  Na Wa !!! |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by babniyen(m): 8:37am On Aug 01, 2012 |
The behavior of GTBank in the past few days makes me wonder if the change of CEO has changed the values of the bank. I collected 500K from my current account to initiate a transaction that required 650k; i then rushed back to my office to conclude the transfer thru 'Instant Transfer to Other Banks' opened my GT Web account and searched and searched for that tab....... Not there i thought something was wrong with my eyes, but luckily a colleague had also tried and no show to. I had to rush back to the bank to withdraw from my savings account and gbam !!! I still got charged a penalty for the transaction. GTB !!! why would remove such an important service and YOU DID NOT INFORM ANY OF YOUR CUSTOMERS OF THE IMPENDING CLOSURE OF SERVICE !!!!! I hope you realize your shortcomings in number of branches and queue at your ATM's. This bank feels like a new entity and I am still trying to understand what is going on. I am sure you will understand that I am shopping for a new partner bank!! |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Okijajuju1(m): 9:46am On Aug 01, 2012 |
Thank Heavens I saw this... I'm off to First Bank! 2 Likes |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by rakumiii(m): 9:49am On Aug 01, 2012 |
This is crazy.......GTB yanga don dey too much lately............I 2nd that....off to First bank.. 4 Likes |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by ebamma(m): 9:54am On Aug 01, 2012 |
maybe the should change their name to No- Guaranty trust bank |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Emperoh(m): 9:55am On Aug 01, 2012 |
I bet it's time to call it a day for a 10 year banking relations Diamond or First Bank, here i come!!! 1 Like |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by jhoshy55: 10:00am On Aug 01, 2012 |
@papasboy, always verify info b4 posting. Is GT Bank on the Brink of Collapse and is embarking on Aggressive Generation of Funds to Survive ? ( Remember Intercontinental bank 25,000 Naira Minimum Deposit ). Intercontinental was never at any time increased its minimum balance to 25k. On gtbank, that may lead to the beginning of their total collapse if not checked. God helps naija financial institutions. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Demdem(m): 10:02am On Aug 01, 2012 |
i dont like this. GTbank shouldnt fall my hand ooo. By the way, what is applicable in other banks as regards this issue? |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Rex123(m): 10:04am On Aug 01, 2012 |
they re the best bank so far in nigeria buh their probs is too much |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Kockane(m): 10:07am On Aug 01, 2012 |
Funds transfer from savings accounts has been restored, @least, I made two local funds transfers yesterday, one from my current to my savings and anoda from my savings to anoda savings and it was effortless as usual. Easy guys, the GTB brand is known for its culture of excellence, granted tins myt not go as planned @ tyms but you don't throw away the baby with the bathing water, do you? Anytym anyday, its GTbank for me!  |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by ifyalways(f): 10:07am On Aug 01, 2012 |
What's the situation in other banks? |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Nobody: 10:07am On Aug 01, 2012 |
Someone please tell me this is a joke, I just wish this is an IT problem cause if its real am switching banks. WTF is dis bullshit |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by arbitrage: 10:08am On Aug 01, 2012 |
i was surprised to see that gtb removed the instant transfer option to other banks leaving only neft 24 hour daily option, even from the gtmobile on my phone, the menu is there but not working. I was using gtb to brag to union bank before they activated my union mobile. Today now, it's only my union mobile that sends instantly to other banks whereas my gtmobile or internet banking is only sending to only gtb instantly and delayed neft to other banks. I didnt even know they have limited savings more cos i know b4 that savings can only send within gtb and not to other banks. I also observe some foul play in gtb difference between available balance and ledger balance. It is usually around 2k b4 and with other banks but now it is btw 5k and 6k difference. Some insider or the bank itself is using people's money for business deals, showing you wide margins on system that you cant withdraw as unavailable whereas the real money diff is being used i suspect. Imagine 3k additional unavailable unwithdrawable balances from millions of gtb customers. Thats big money at someone's disposal to do insider deal. Or else why is it not left as part of people's available balance in current account? Why fluctuating increase in margin from 2k to 5k or 6k? |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by odeexpress(m): 10:13am On Aug 01, 2012 |
Sincerely GT Bank is becoming something else. I used the bank for international funds transfer last year for payment of tuition fee and the charges were so high. I liked the bank but their attitude has changed. I am only looking for an alternative bank and I 'd stop initiating transactions with the bank. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by kaysy(m): 10:14am On Aug 01, 2012 |
They should have just added the COT charge to fund transfer to other banks, thereby giving customers with only savings account the opportunity to also transfer funds to other banks, that i think will generate them funds other than closing funds transfer completely even from GTB to GTB Accounts, that's not fair. COT is very cheap and we can all afford it [N5/N1,000] i.e 0.005 times Amount to transfer. All they need i think is common sense. NOTE: GTB to GTB Accounts should be COT free from a savings account and must remain so. Otherwise!!! 2 Likes |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Ajillo: 10:18am On Aug 01, 2012 |
If you have been hit by bank closure in the past, you will know this is the time to Run, run run away from that bank. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by olu4life(m): 10:21am On Aug 01, 2012 |
@ op Are u for real? Still made transfer yesterday. Even noticed a deduction in my balance. Walked to the custmoeer service and complained,was told told i was charged for sms for june. #300 for june alone which as never happened to me before. Was so shocked. I hope they didnt scrap the transfer stuff o |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Muktar111(m): 10:24am On Aug 01, 2012 |
The Gt in Murtala Square Kaduna is just a nightmare! I'm following suit to Firstbank coz I knw they hav a no COT charge policy! |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by jpphilips(m): 10:26am On Aug 01, 2012 |
hope is not true because the faith of intercontinental will befall them soon, all intra bank transfers must remain free or bye bye to cashless sanusi |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Kockane(m): 10:26am On Aug 01, 2012 |
Ajillo: If you have been hit by bank closure in the past, you will know this is the time to Run, run run away from that bank.What do people gain in causing unnecessary panic in the minds of others? A bank that's acclaimed to be the most profitable bank in the country, with constant AA ratings is by ur own assessment on the brink of closure? I shake my head for you. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by jpphilips(m): 10:28am On Aug 01, 2012 |
Muktar111: The Gt in Murtala Square Kaduna is just a nightmare! I'm following suit to Firstbank coz I knw they hav a no COT charge policy! don't deceive your self ooo, First bank is terror when it comes to instantaneous, hidden and unforeseen charges. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by PrinceLat(m): 10:29am On Aug 01, 2012 |
Thank God i saw this post, i was almost thinking there was sometin wrong with my savings account, i tried to transfer money yesterday , it didnt work, tried again this morning,no show!!!. Painful part was that i promised to pay some cash into someone's account i bought goods from,(first time oh,d guy now go think say i no wan pay am) what is really annoying is that the feature is still there but non-functional, yet they couldn't notify us before their useless deactivation which i consider premeditated and very un-customercare-like (if i can use d word) Kockane: Funds transfer from savings accounts has been restored, @least, I made two local funds transfers yesterday, one from my current to my savings and anoda from my savings to anoda savings and it was effortless as usual. Easy guys, the GTB brand is known for its culture of excellence, granted tins myt not go as planned @ tyms but you don't throw away the baby with the bathing water, do you? Anytym anyday, its GTbank for me! |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by JAZES(m): 10:34am On Aug 01, 2012 |
GT bank is really pissing me off. Imagine them taking such a major decision without any prior notice just cos of cot. I had to do internet transfer by all means yesterday using my current account only for me to wake up this morning to see that they have debited my current with 9k+. Its time to shop for another bank that treat their customers right. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Demdem(m): 10:45am On Aug 01, 2012 |
Kockane: My friend nothing is impossible. Some of those banks that were rescued also at one time were given awards some were even paying good dividends to shareholders so its not a determining factor bro. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by jossy26: 10:46am On Aug 01, 2012 |
This story is confirmed false, NL moderators should ensure such doesn't get to the frontpage so as not to raise unnecessary alarm.. I just transferred from my GT savings to another GT savings now... Bleep the OP |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by JAZES(m): 10:49am On Aug 01, 2012 |
jossy26: This story is confirmed false, NL moderators should ensure such doesn't get to the frontpage so as not to raise unnecessary alarm.. I just transferred from my GT savings to another GT savings now... Bleep the OP I can bet my life u did not do it on their internet banking portal. Its possible if u do the transfer in the banking hall but not on their internet banking. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by orgasm(m): 10:54am On Aug 01, 2012 |
jp philips:[quote author=jp philips] I challenge you to state one of those unforseen charges cos I do not know of such in Firstbank |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Kockane(m): 10:57am On Aug 01, 2012 |
Demdem:Bro, if ur conversant with today's Nigerian banking industry, you'll understand when it cums to bank failure, 90% of the entire industry would fail before the likes of gtb feel a thing. This is an institution I have a lotta respect for due to their high level of professionalism and efficiency. Yes, there myt be isolated cases of innefficiency but to now make it sound like its bcum a norm is not good. And to now suggest the bank is on the brink of failure is downright ridiculous. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by DonDiara(m): 10:58am On Aug 01, 2012 |
. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by Pukkah: 11:01am On Aug 01, 2012 |
Rex123: they re the best bank so far in nigeria buh their probs is too much Your statement is contradictory. |
| Re: GtBank: Funds Transfer From Savings Accounts Suspended by yavo2: 11:01am On Aug 01, 2012 |
jossy26: This story is confirmed false, NL moderators should ensure such doesn't get to the frontpage so as not to raise unnecessary alarm.. I just transferred from my GT savings to another GT savings now... Bleep the OPThe story is not false o...I have also been trying to transfer money from my GTB savings account to wife's for the past 5days now, no show! I even wrote my account officer twice now, no response. I was wondering what was going on until I read this,. Thank you NL atleast for keeping us informed. |
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