best bank..

But why money no dey last for GTB?

Cos its easier to spend.. Try UBA.. Atm go fvk u up 4/10 times. U go just bone


This is why I use GTB as a wallet.. And UBA as a safe

castrokins:
How's This A First When You Have Africard? Bankers I'm Waiting For The Exposition...

Africard is not an Instant Virtual Card for internet payments is it?

Do you even know what a virtual card is?

It Was A Question Sir. Please Treat It You Know About It. Thanks

Strahovski:


Africard is not an Instant Virtual Card for internet payments is it?

Do you even know what a virtual card is?

GTB always setting th pace

I really don't know why me too love them that much.

benoopy:
I really don't know why I hate this bank.

This is something Western banks adopted more than 10 years ago.
Nigeria is still in darkness.

skye bank is the cheapest i have used

guardian09:

...yet it is alot better than First bank whose exchange rate via atm is higher...

What is virtual card? What do you need virtual card for if you have the physical card details? All these banks are taking advantage of people's ignorance in Nigeria to make their service look extra ordinary.

Normally, in other countries all debit (prepaid) cards and some credit cards have CCV code on them. This is a three digit code unique for every card to facilitate online transactions. The CCV code is found at the back of every card, it is different from your ATM PIN. It is required for almost all online transactions.

So without having your card physically with you, once you remember your CCV code and date of expiration on your card, you are all set for any online or phone transactions. In fact, this is standard all over the world, which then brings up the issue of standards and regulatory policies in the country.

Therefore, I see no need for any virtual card, it is not even innovative. All they needed to do was to add CCV code to existing cards, along with a card expiration date. Once this is done, existing cards could be used virtually.

Abeg this people should stop preying on people's ignorance before Oyinbo them go laugh us tire.

If its the same as the utility card they have been shouting about you better RUN FROM THIS CARD. YOU have to have a minimum balance of N100k in the account at all times. what's the sense in that? Yeye Bank.

TechInsider:
Foremost African financial institution, Guaranty Trust Bank plc has reaffirmed its position as a leading provider of e-payment gateway solutions with the recent launch of its Virtual Prepaid MasterCard. The card which is issued instantly via Internet Banking, provides an added comfort for security conscious online shoppers who prefer not to use their regular debit/credit cards when making online payments.

The GTBank Virtual card has all the essential features of a physical card and can be used to make both international and local online payments. It also serves as a fall back option for customers who have forgotten or lost their card, but need to perform urgent online purchases. The introduction of the virtual card has bridged the gap between traditional e-wallets and bank accounts by providing a low cost alternative to physical debit cards. Customers also have the option of converting the virtual card to a physical card.

Commenting on the launch, Segun Agbaje, Managing Director / Chief Executive Officer of GTBank said:

“THIS MARKS ANOTHER MILESTONE IN OUR QUEST TO MAKE BANKING MORE SEAMLESS FOR OUR CUSTOMERS. AS A BANK, WE REMAIN FIRM ON OUR OBJECTIVE TO DELIVER VALUE ADDING SERVICES THAT ARE TAILORED TO MEET THE DIVERSE NEEDS OF OUR EVER-GROWING CUSTOMER BASE BY LEVERAGING TECHNOLOGY TO MAKE BANKING MORE CONVENIENT FOR ALL OUR CUSTOMERS.”

He further stated that “the launch of this product, attests to our commitment towards encouraging a cashless culture in our country by promoting the use of alternative payment channels for transacting both locally and internationally. Our desire to be at the frontier of banking excellence enables us to pioneer innovative products aimed at making banking more simple and attractive to the unbanked and unserved.”

Guaranty Trust Bank plc is one of the biggest issuers of payment cards in Nigeria. In Partnership with Mastercard, the Bank has rolled out all variants of GTBank Mastercards in all countries where it has business presence and continues to offer rewards and priceless experiences to its cardholders. One of such promos will include the POS Cash Back Promo; a loyalty reward scheme where customers can earn cash for paying for products and services on POS terminals using their MasterCards.

source - http://www.techinsider.ng/gtbank-launches-nigerias-first-virtual-mastercard/

sonnie10:
What is virtual card? What do you need virtual card for if you have the physical card details? All these banks are taking advantage of people's ignorance in Nigeria to make their service look extra ordinary.

Normally, in other countries all debit (prepaid) cards and some credit cards have CCV code on them. This is a three digit code unique for every card to facilitate online transactions. The CCV code is found at the back of every card, it is different from your ATM PIN. It is required for almost all online transactions.

So without having your card physically with you, once you remember your CCV code and date of expiration on your card, you are all set for any online or phone transactions. In fact, this is standard all over the world, which then brings up the issue of standards and regulatory policies in the country.

Therefore, I see no need for any virtual card, it is not even innovative. All they needed to do was to add CCV code to existing cards, along with a card expiration date. Once this is done, existing cards could be used virtually.

Abeg this people should stop preying on people's ignorance before Oyinbo them go laugh us tire.

Though I don't know about this GTB virtual card as they did not give any added advantage that this card have...

However, generally virtual cards have good security features that the physical ones do not have (at the virtual cards that I have used)...

1. You can generate instantly online, and they come with a Brand new number and CCV code that is different from your underlying card.
2. You can assign their value yourself...e.g. If you want to buy something worth N599.95 online, you can generate a card with that exact amount and use it immediately, this way, if yahoo boys hijack your number, they will hit zeros.
3. You can generate any many as you want, you can alter their expiration...you can generate a card that expires in one week or one month.
4. You can send it to a friend as gift, generate it, put the appropriate amount and send the info.
5. You can also tie it to a specific merchant, eg if you tie a particular virtual card to Amazon.com, if a charge comes in from say eBay.com, even if you have funds in the card, it will be declined.
6. You can delete the card, create new ones, increase/reduce balance any time you want.
7. etc etc etc.

I have been using virtual cards since 2005

kennydee05:
It is the queue at GT banks that discouraged me from opening account with them, especially in the students area.

I still enjoy my Access Bank.

With a GTB account you life becomes queueless. BTW, are you talking about the Access bank in Nigeria? If not for business I'll never have opened an access bank account. It took them four working days to send my mobile pin to activate my mobile, something I did in GTB and diamond within 10mins. GTB and Diamond Bank all the way!

How does it take away the massive queue at their ATM's and the endless period you spend in their banking halls.

Bye! One less customer to decrease the crowd in the banking halls...

malikworld:
Gtb and their too much charges for their services. The most annoying thing abt the staff is that they will tell u not compare gtb with other banks cos they are in a different class but I always make it clear to them that gtb is just one of the banks we have in 9ja. I have even decided to close my account with them come December this year.

All Internet and online transactions use virtual cards. What are the talking about?

Always ahead! Best bank till date.

Gud

castrokins:
It Was A Question Sir. Please Treat It You Know About It. Thanks

Well, Africard is not a virtual card! A virtual card is an instant prepaid card used solely online I.e it has no physical card. When converted to a physical card it cease to be a Virtual card it becomes a utility card or gift card or prepaid card as the case may be.

So once again, it's the FIRST

deolu2000:
How does it take away the massive queue at their ATM's and the endless period you spend in their banking halls.

What are you doing in the banking hall in 2015? What happened to Internet Banking? Social Banking? Etc....

sonnie10:
What is virtual card? What do you need virtual card for if you have the physical card details? All these banks are taking advantage of people's ignorance in Nigeria to make their service look extra ordinary.

Normally, in other countries all debit (prepaid) cards and some credit cards have CCV code on them. This is a three digit code unique for every card to facilitate online transactions. The CCV code is found at the back of every card, it is different from your ATM PIN. It is required for almost all online transactions.

So without having your card physically with you, once you remember your CCV code and date of expiration on your card, you are all set for any online or phone transactions. In fact, this is standard all over the world, which then brings up the issue of standards and regulatory policies in the country.

Therefore, I see no need for any virtual card, it is not even innovative. All they needed to do was to add CCV code to existing cards, along with a card expiration date. Once this is done, existing cards could be used virtually.

Abeg this people should stop preying on people's ignorance before Oyinbo them go laugh us tire.

You are the ignorant one here...

Look behind your card, what do you see? All cards worldwide have a CVV2 code so your point is meaningless.

The point of a virtual card is to separate your main account from your online transactions to prevent things like a double charge or fraud in the xase of seller fraud.

Dude what year are you living in?

Strahovski:


What are you doing in the banking hall in 2015? What happened to Internet Banking? Social Banking? Etc....

even before you get profiled for internet banking,i bet you that you will queue in GTB. U will surely queque ti make mere enquiry in that bank.

linearity:

Though I don't know about this GTB virtual card as they did not give any added advantage that this card have...

However, generally virtual cards have good security features that the physical ones do not have (at the virtual cards that I have used)...

1. You can generate instantly online, and they come with a Brand new number and CCV code that is different from your underlying card.
2. You can assign their value yourself...e.g. If you want to buy something worth N599.95 online, you can generate a card with that exact amount and use it immediately, this way, if yahoo boys hijack your number, they will hit zeros.
3. You can generate any many as you want, you can alter their expiration...you can generate a card that expires in one week or one month.
4. You can send it to a friend as gift, generate it, put the appropriate amount and send the info.
5. You can also tie it to a specific merchant, eg if you tie a particular virtual card to Amazon.com, if a charge comes in from say eBay.com, even if you have funds in the card, it will be declined.
6. You can delete the card, create new ones, increase/reduce balance any time you want.
7. etc etc etc.

Not in GTB. And what you said does not apply to Bank Virtual Cards. Banks won't give you that luxury.

deolu2000:

even before you get profiled for internet banking,i bet you that you will queue in GTB. U will surely queque ti make mere enquiry in that bank.

Oh no... you can actually get profiled simply by calling GTCONNECT or on their official corporate website you can register and obtain your login details instantly.

Certainly not the first. Maybe first self-generated, online.

Zenith had WebSurfer cards way back, before 2006.

be careful of all dis banking online sturfs d bank can not protect ur account here in naija, people are loosing their money day by day my friend lost his 50k at UBA a month ago

BuddhaPalm:
Certainly not the first. Maybe first self-generated, online.

Zenith had WebSurfer cards way back, before 2006.

Thats not a virtual card!

Thank You, Boss.

Strahovski:


Well, Africard is not a virtual card! A virtual card is an instant prepaid card used solely online I.e it has no physical card. When converted to a physical card it cease to be a Virtual card it becomes a utility card or gift card or prepaid card as the case may be.

So once again, it's the FIRST

coolsix:


Thats not a virtual card!

Oh, thanks for the correction.

Strahovski:


You are the ignorant one here...

Look behind your card, what do you see? All cards worldwide have a CVV2 code so your point is meaningless.

The point of a virtual card is to separate your main account from your online transactions to prevent things like a double charge or fraud in the xase of seller fraud.

Dude what year are you living in?

You see why it is hard reasoning with some people. My point is, Virtual cards have no added advantage over physical cards. It is mediocrity and not innovative. Your physical card already is protected and insured against fraud and unauthorized charges. In climes where things are done right, what ever suspicious charge in your card is usually concealed by a single phone call to the bank.

Until you are able to point out one an outstanding feature of a virtual card, then you have no point.

Strahovski:



Not in GTB. And what you said does not apply to Bank Virtual Cards. Banks won't give you that luxury.

My post is from personal experience, I have a Bank's virtual card that operates exactly as described in my post, though it is not a Nigerian Bank virtual bank, but virtual card features are universal and if they have the correct software modules, all these features can be activated.