According to a statement from the bank:

“GTBank MobileMoney is a financial mobile phone application that allows subscribers perform their banking transactions on the move without visiting any branch. It is a more secure, convienient and affordable way to transfer funds to your friends and family anytime from the comfort of your home or office.”

At this stage the service is only available on MTN network. However, they promised to launch on other networks soon.

Various services are available on this application such as:

* cash deposits inot your mobile money account at an agent’s location
* funds transfers to any recipient (both mobile money subscribers and non subscribers
* cash withdrawals from any mobile money agent. withdrawals at GTBank ATMs
* purchase of airtime
* check account balance
* change account pin
The question now is "When did GT Bank Launched Mobile Money Service (GTB MobileMoney)'s APPLICATION?" as I really want to know this for record purpose and how it works.......

The fact remains that GTbank is one of the final 11 given approval by CBN to roll out mobile money services. So it is not news. GTBank seems to be sleeping, while MTN is taking the hedge off them. Neither MTN nor any other telcos was given license to do MM. MTN now partners GTbank and Fortis Mobile Money. Although Fortis seems to have its own platform/application (Fundamo) but GT Bank seems to depend solely on MTN platform/application. I learnt that all the licensed providers will need to recruit 50,000 agents or so. At least Fortis is making a little effort, but GTB seems to be sleeping as i earlier said. MTN recently advertise for recruitment of SUPER AGENTS-- companies that will serve as 'AGENT to agents'.

Some other firms/banks that did not fall within the final 11 given operational license, but that got 'approval-in-principle' earlier, are still struggle to see if CBN will have a re-consideration.

Let's keep our fingers cross and wait for when they will finally take it to the streets (away from boardrooms, conference halls or TV shows).