First i have been seeing people complain about GTBank Exchange rate on Naira MasterCard against the dollar payment which i always laughed at them.(its was funny because i wasn't affected).

Today, I wanted to make a payment on a Local Website in Naira using Interswitch but my Naira Mastercard wasnt with me so i decided to try my Dollar Visa card from GTBank if it would work. I tried it, behold it worked. I wanted to make purchase of N100.

$0.54 USD was deducted from my account. When i made some calculations, i realize the rate was N185!!! Instead of N199 or the N285 they charge on Naira Cards. I thought Dollar - Naira is 285(GTBlack Market)?? Now I am paying for Naira product with dollar denominated card and the rate is 185?? This is serious. Not even 199 official rate.

EFCC Should probe this bank. The fraud is too much.

That means they bought the dollar from you at N185 less than official rate because the amount is not up to $1 just like those Abok1s do when exchanging lower denominated currency against what they would pay you when exchanging higher denominations Hehehehe black market bank

coolsix:
First i have been seeing people complain about GTBank Exchange rate on Naira MasterCard against the dollar payment which i always laughed at them.(its was funny because i wasn't affected).
Today, I wanted to make a payment on a Local Website in Naira using Interswitch but my Naira Mastercard wasnt with me so i decided to try my Dollar Visa card from GTBank if it would work. I tried it, behold it worked. I wanted to make purchase of N100.
$0.54 USD was deducted from my account. When i made some calculations, i realize the rate was N185!!! Instead of N199 or the N285 they charge on Naira Cards. I thought Dollar - Naira is 285(GTBlack Market)?? Now I am paying for Naira product with dollar denominated card and the rate is 185?? This is serious. Not even 199 official rate.
EFCC Should probe this bank. The fraud is too much.

bigtt76:
That means they bought the dollar from you at N185 less than official rate because the amount is not up to $1 just like those Abok1s do when exchanging lower denominated currency against what they would pay you when exchanging higher denominations Hehehehe black market bank

This is really a black market bank. And don't be surprised that even when it's greater than $1 the rate will be N180

This bank feels untouchable.

Learnt EFCC is on their case though under the Dasuki Security Funds Charity Foundation issues

coolsix:


This is really a black market bank. And don't be surprised that even when it's greater than $1 the rate will be N180

This bank feels untouchable.

They are fraudulent Bank.... I hate them

they are into this trend due to the fact that we don't have regulations guiding customers when it comes to exchange rate

And it's not as if other banks are better. They are all birds of the same feather

I've been a victim as well, called GTB customer service, and I was told they source their forex from the black market hence the difference to the official rates.

Gtbank 378/$1 as at 4/05/17