Good day everyone, I'm at the bank now, i requested to withdraw dollars in my dormicary account and was told I will have to sell it to the bank at what rate? They said 383 per dollars.

Meanwhile, the BDC guy I called this morning was willing to buy from me at 460.

Please can someone help me confirm if its same with other banks or GTB is trying to make me loss money seriously.

Thanks for your response.

Did you deposit the dollars into the account yourself or it is payment received? For the former, you are allowed to withdraw while the latter, you must sell to the bank. Ask your mallam if you can transfer to his dorm account.

SocialJustice:
Did you deposit the dollars into the account yourself or it is payment received? For the former, you are allowed to withdraw while the latter, you must sell to the bank. Ask your mallam if you can transfer to his dorm account.

It was payment recieved, but I have been withdrawing for over two years now. I'm hearing this for the first time which for me is a whole lot of losses to bear.

skultrick:


It was payment recieved, but I have been withdrawing for over two years now. I'm hearing this for the first time which for me is a whole lot of losses to bear.

New CBN policy. A memo was sent out earlier by gtb that you can only withdraw deposited dollars. Dollars is currently scarce, if you can live without immediately withdrawing the money then do so or try converting it to bitcoin or take the loss. Just research alternatives

SocialJustice:
New CBN policy. A memo was sent out earlier by gtb that you can only withdraw deposited dollars. Dollars is currently scarce, if you can live without immediately withdrawing the money then do so or try converting it to bitcoin or take the loss. Just research alternatives

Please can you shed more light on how I can convert it to bitcoin. BTW, these monies where recieved from Payoneer.com.

Thanks for your time.

skultrick:


Please can you shed more light on how I can convert it to bitcoin. BTW, these monies where recieved from Payoneer.com.

Thanks for your time.

The process is long can't start explaining in detail. Go to paxful and look for people selling bitcoin for dollars. Buy from them then sell your bitcoin to Luno, their exchange rate to naira is good, ask them their current rate first.

Also try asking around for banks that still allow you to withdraw dollars from your dorm account. Look for someone with account there, transfer and withdraw from that account.

SocialJustice:
The process is long can't start explaining in detail. Go to paxful and look for people selling bitcoin for dollars. Buy from them then sell your bitcoin to Luno, their exchange rate to naira is good, ask them their current rate first.

Also try asking around for banks that still allow you to withdraw dollars from your dorm account. Look for someone with account there, transfer and withdraw from that account.

Alright, thank you very much.

So if I need to withdraw a $100k for my music video now, I can't?

This is very bad.

This govt keep finding new ways to make life unbearable for Nigerians.

I pray other banks don't follow suit.
Please transfer your fund to your mallard dorm account and close the gtb account. If people start closing their account because of this their new rule they will reverse it but if y'all don't, they won't and other banks will follow suit.

I know some that withdrew dollars today from her access dorm account so you can just open access account after you dump gtb.

We should learn how to stop tolerating nonsense from people who don't know how hard we work for our money.

skultrick:


It was payment recieved, but I have been withdrawing for over two years now. I'm hearing this for the first time which for me is a whole lot of losses to bear.

How many dollars is it.

JBiden:
So if I need to withdraw a $100k for my music video now, I can't?

I went to access bank, and they assured me I can withdraw dollars from them.

In other words, those crooks at gtb are the ones finding excuses. That was how they stop payment with Mastercard linked to a naira account.

Zhirinovsky:
This is very bad.

This govt keep finding new ways to make life unbearable for Nigerians.

I pray other banks don't follow suit.
Please transfer your fund to your mallard dorm account and close the gtb account. If people start closing their account because of this their new rule they will reverse it but if y'all don't, they won't and other banks will follow suit.

I know some that withdrew dollars today from her access dorm account so you can just open access account after you dump gtb.

We should learn how to stop tolerating nonsense from people who don't know how hard we work for our money.

My brother say no more, I've been using this guys for over 2 years now, then this stupid policy. I've already dumped them.

If you have a forex account, for example I use ‘fxtm’ (please do your findings) you can fund the trading account by bank transfer since they have a gtb dollar account, and then you withdraw your money in naira by their exchange rate, with is I think 456. Note that the account the money is coming from and the account the money is going to must be in your name.

Backcheck:
If you have a forex account, for example I use ‘fxtm’ (please do your findings) you can fund the trading account by bank transfer since they have a gtb dollar account, and then you withdraw your money in naira by their exchange rate, with is I think 456. Note that the account the money is coming from and the account the money is going to must be in your name.

Is it a must you trade with some of the deposited funds before you can withdraw it back?

This is usually the case for crypto exchange platform but not sure how forex brokers works when it comes to deposits

SocialJustice:
New CBN policy. A memo was sent out earlier by gtb that you can only withdraw deposited dollars. Dollars is currently scarce, if you can live without immediately withdrawing the money then do so or try converting it to bitcoin or take the loss. Just research alternatives

This is Sad news but my Fear is If It From CBN then it Must Go round All The Bank

Ethereum:

Is it a must you trade with some of the deposited funds before you can withdraw it back?

This is usually the case for crypto exchange platform but not sure how forex brokers works when it comes to deposits

Its not

FxExpo:
This is Sad news but my Fear is If It From CBN then it Must Go round All The Bank

It's not from CBN, its GTB and their useless policies aimed at defrauding people of their hard earned monies.