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Help Required With Funds Witheld By GTB - Business - Nairaland

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Help Required With Funds Witheld By GTB by polys: 8:55am On Oct 23, 2009
Hello,

I started an online business selling recharge cards and used GTPay online payment platform from GTB as my payment solution. After a few months, I realized they were not remitting all my money and I carried out a full audit to find out they have kept nearly N400,000 till date, apart from the normal 1.5% they are supposed to deduct per transaction. I have written and spoken to everybody involved and they have agreed the money is with them. I have an email which they sent to acknowledge that.

They claim the problem is from Interswitch and that they will sort it out later. They have been telling me this for the past 5 months and still nothing has been done. Meanwhile, my capital is stuck with them and the business is at a standstill. I feel so bad because all I tried to do was use my brain and do legitimate business online, only for an entity like GTBank which i trusted to help my business grow to kill it effectively.

I have spoken to the head of IT and still nothing has been done.

Does anybody know someone I can talk to in GTB? What are my options? Is there a lawyer on Nairaland that can help with the litigation since we have an agreement and they don't seem to care.

Thank you everyone for your response in advance.

PS: People stay away from GTBank, especially if you are a small business. They simply don't care about you and would probably ruin your business. I've never seen such an insensitive bank
Re: Help Required With Funds Witheld By GTB by steaming(f): 11:35am On Oct 26, 2009
i rally sympathise with u, it cud b quite frustrating. Unfortunately, i have nothing much to offer except keep mounting pressure on the poeple u have been talking to and if u have an accounts officer, get him in the know if you havent done so already.

so much for the much talked about GTB! sad
Re: Help Required With Funds Witheld By GTB by harpo(m): 1:16pm On Oct 26, 2009
Copy Sanusi and let him know
Re: Help Required With Funds Witheld By GTB by polys: 10:05pm On Oct 26, 2009
Thank you all for your replies.

I really wish there was a way to get audience with Sanusi. I would have gladly done that.

Yes I have been contacting them through both email and phone calls. The latest is that they have stopped picking my calls or answering emails. Mr. Ayegbusi, the head of IT told me to stop calling and that they will contact me when they resolve the issue. He even said he has spoken to the MD of interswitch about it. All this is going to 2 months now. I have his personal line and he has simply stopped picking my calls.

About going to the branch, I tried that once. I was told they were not on seat. The problem is that I dont know these people facially and it's the headquarters so I can't just walk in to the person's office. I wouldnt even know if they passed me by at the front desk.

Thank you once a gain for your replies.




I am just so frustrated right now.
Re: Help Required With Funds Witheld By GTB by kay80(m): 12:14pm On Oct 27, 2009
@ poster,
I am suprised to read this post regarding GT bank. Why dont you to go to your branch and sort this problem with them. You cannot continue to make phone calls and write e-mails. Go to your branch and request to see the Branch Manager or your account officer. Go early in the moring. Take it serious with them. Also make sure you go with your supporting documents. This is money issue. Stop calling,
Re: Help Required With Funds Witheld By GTB by palama: 10:37pm On Oct 27, 2009
Re: Help Required With Funds Witheld By GTB by wokess: 3:27pm On Oct 29, 2009
same here guy i bought some arik tickets online with my ATM My account was debited trice since April uptill now my money have not been refunded i have gone to various GTB branches i keep no response.
Re: Help Required With Funds Witheld By GTB by palama: 8:44am On Oct 30, 2009
JUst keep you faith strong keep Informing them if they dont Answer you, Then Write a Petesion
Re: Help Required With Funds Witheld By GTB by palama: 9:55am On Oct 30, 2009
Re: Help Required With Funds Witheld By GTB by bollingjoe(m): 1:41pm On Oct 30, 2009
@ polys ,get a lawyer explain ur problem and get him to write the bank on ur behalf.If they respond then sue
Re: Help Required With Funds Witheld By GTB by cvibe: 12:48pm On Nov 01, 2009
@ Poster,

If you're in lagos, going to their head office is a waste of time. Go directly to their IT dept located at GTB Tiamuyu Savage VI. Those are the guys who integrate your GTB payment platform with interswitch. Those are the guys who matter, all other ones don't have a clue.
Re: Help Required With Funds Witheld By GTB by naijatoday: 5:10am On Nov 02, 2009
Write to the CBN

Why are you sitting on the phone calling, Go to the damn head office in person.
Re: Help Required With Funds Witheld By GTB by polys: 5:16am On Nov 02, 2009
^

Please do you know anybody I can talk to in CBN? Or maybe the man in charge of this kind of issue. I would be grateful for any help you can give. As I said before, going to the office doesn't help me because am not usually able to see the people in charge. I am not sure if they are hiding or truly out of the office. Same thing goes for calls and emails.
Re: Help Required With Funds Witheld By GTB by mbulela: 6:32am On Nov 02, 2009
cvibe:

@ Poster,

If you're in lagos, going to their head office is a waste of time. Go directly to their IT dept located at GTB Tiamuyu Savage VI. Those are the guys who integrate your GTB payment platform with interswitch. Those are the guys who matter, all other ones don't have a clue.
bollingjoe:

@ polys ,get a lawyer explain your problem and get him to write the bank on your behalf.If they respond then sue

these are the two pieces of advice you need.
what do you need Sanusi and CBN for?
get serious and i these two options do not work,come back here and i have a piece o advice for you.one that will never fail but first you have to implement these two posted above.
Re: Help Required With Funds Witheld By GTB by bollingjoe(m): 7:27am On Nov 02, 2009
Why not write a petition to efcc if the bank is not listening
Re: Help Required With Funds Witheld By GTB by polys: 8:19am On Nov 02, 2009
mbulela:

these are the two pieces of advice you need.
what do you need Sanusi and CBN for?
get serious and i these two options do not work,come back here and i have a piece o advice for you.one that will never fail but first you have to implement these two posted above.

I don't know if you read my previous posts but I did mention that I have spoken to the HEAD of GTB Info Tech Department. His name is Mr. Ayegbusi. I can even post give you his personal line if you want. But of course you can't see him if you go to Tiamiyu Savage. If I have not first tried those options, I won't be on Nairaland.

Also in my original post, I asked if there is any lawyer in the house who can help out. Yes I am looking for a lawyer even if it's just to write them officially first before proceeding to court.

@bollingjoe: As per the EFCC suggestion, please let me know how to go about it and I will be very grateful to you. I have checked the efcc website but couldn't find much there.

People, please understand that I have tried quiet a number of things too. I have not just sat at home all these while. At least I have and email from them confirming the money is missing and they will refund. It's just pinning them down to actually make the refund that has been problematic.
Please do give me any hint(s) you have.
Re: Help Required With Funds Witheld By GTB by nethacker(m): 3:42pm On Nov 02, 2009
polys:

Hello,

I started an online business selling recharge cards and used GTPay online payment platform from GTB as my payment solution. After a few months, I realized they were not remitting all my money and I carried out a full audit to find out they have kept nearly N400,000 till date, apart from the normal 1.5% they are supposed to deduct per transaction. I have written and spoken to everybody involved and they have agreed the money is with them. I have an email which they sent to acknowledge that.

They claim the problem is from Interswitch and that they will sort it out later. They have been telling me this for the past 5 months and still nothing has been done. Meanwhile, my capital is stuck with them and the business is at a standstill. I feel so bad because all I tried to do was use my brain and do legitimate business online, only for an entity like GTBank which i trusted to help my business grow to kill it effectively.

I have spoken to the head of IT and still nothing has been done.

Does anybody know someone I can talk to in GTB? What are my options? Is there a lawyer on Nairaland that can help with the litigation since we have an agreement and they don't seem to care.

Thank you everyone for your response in advance.

PS: People stay away from GTBank, especially if you are a small business. They simply don't care about you and would probably ruin your business. I've never seen such an insensitive bank
@poster, I have few questions for u
1)How come u were nt able to detect this on time?
2)Who and where did u get ur reports from?How authentic is this report in question?
3)If it is possible,can u tell the house who the beneficiary is i.e which account were u creditin via GTPay platform.
Re: Help Required With Funds Witheld By GTB by polys: 6:16pm On Nov 02, 2009
nethacker:

@poster, I have few questions for u
1)How come u were nt able to detect this on time?
2)Who and where did u get your reports from?How authentic is this report in question?
3)If it is possible,can u tell the house who the beneficiary is i.e which account were u creditin via GTPay platform.

Answers
1) Till today, GTB has not been able to tell me at which hour of the day they close daily transactions. Therefore, even if you calculate daily from your own logs, it will not tally with theirs. So when you notice money missing at first, you assume it fell into another day and that made it hard to trace. Another thing is, you somehow have to trust the bank you keep money in, so the first thing on your mind will not be fraud detection when dealing with them. It was until a particularly large order went missing for about 3 days that I got curious and then ran a total audit starting from the day sales started.

2.GTPay keeps a log using the GT Monitor interface. I used this log since it is theirs and it agreed with sales from my site but when you add up actual cash remitted, then you see the shortfall. They couldn't argue about the money because it showed on GT Monitor logs too. They just didn't pay it. I have an email from the IT man incharge of GTPay which confirms this.

3. It is my company account which I have been running with GTB since 2005.

I hope I have been able to answer your questions. please let me know if you have more or can help.
Re: Help Required With Funds Witheld By GTB by abhosts(m): 10:35pm On Nov 02, 2009
You are not alone in this; and that is where the real complication lies. GTBank's GTPay system acts as an intermediary between it's customers (Merchants) and Interswitch, which means that full cooperation between both entitiesis is very crucial to resolve every single hitch. Unfortunately, this is simply not the case and this creates a scenario whereby GTBank is not able to ascertain the exact owners (Among It's Numerous Merchants) of funds credited to them in many cases.

Many people go for GTPay because they feel they are getting a good bargain when compared to using Interswitch directly, but this is a lesson that anything short of Interswitch's main API/Gateway is tantamount to trouble. It is better to deal directly with Interswitch.
Re: Help Required With Funds Witheld By GTB by xreal: 11:14am On Nov 05, 2009
This is no problm at all, the solution is simple, if u can do this;
Go to the branch you use probably on a Thursday morning,
Speak with the person incharge - as a gentle man, tell him u need a solution by Friday morning (remain calm and gentle).
Do the same talking on Friday morning if no solution yet (calm and gentle).
By monday morning if nothing positive has been done, start to act real drama right in the banking hall,
Shout, scream out ur situation for all other customers to hear, call the attention of everyone in the hall,
I asure you a solution before an hour - depending on how touching U 'act the drama'
Let everyone know its your money and not the bank's.

This is the best solution, I once used it, a month-old problem was solved 7 minutes after my 'drama' in the banking hall.
Meanwhile do not speak 'big' english while acting so that even the 'illiterate' customers would understand you.

That's 9ja for U.
Re: Help Required With Funds Witheld By GTB by emma1st(m): 8:50pm On Nov 06, 2009
@poster, pls, if the is resolved let us know in time. So that GTB customers will know how to deal with them.
Re: Help Required With Funds Witheld By GTB by konami001: 10:03pm On Nov 12, 2009
xreal:

This is no problm at all, the solution is simple, if u can do this;
Go to the branch you use probably on a Thursday morning,
Speak with the person incharge - as a gentle man, tell him u need a solution by Friday morning (remain calm and gentle).
Do the same talking on Friday morning if no solution yet (calm and gentle).
By monday morning if nothing positive has been done, start to act real drama right in the banking hall,
Shout, scream out your situation for all other customers to hear, call the attention of everyone in the hall,
I asure you a solution before an hour - depending on how touching U 'act the drama'
Let everyone know its your money and not the bank's.

This is the best solution, I once used it, a month-old problem was solved 7 minutes after my 'drama' in the banking hall.
Meanwhile do not speak 'big' english while acting so that even the 'illiterate' customers would understand you.

That's 9ja for U.


I highly subscribe to this idea, Its funny but it works for my Cousin all the time he goes to GTB and he is delayed, Some times these bankers like to do 'yanga' as if what they are doing is more important than the Customer standing in their front, Anyway, N400,000 is a huge sum of money and even if you have to sit on the banking floor crying, dot so, Dont let these biro thieves get away with it,

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