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Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) - Webmasters (2) - Nairaland

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Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by ictjobber: 12:27pm On Apr 29
Hmm
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Skillsnigeria: 12:27pm On Apr 29
hmmm
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by dalass(f): 12:28pm On Apr 29
dvkot:
Use bitcoin
Bitcoin wirh all CBN wahala and warning?
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Siwisheswereesh: 12:29pm On Apr 29
See theft ooooo embarassed
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by swifty2021: 12:30pm On Apr 29
DM if you need your money paid to any account abroad. Cash and inflow.
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by BuddhaPalm(m): 12:30pm On Apr 29
LaIabobo:
There is always offshore charge for wire transfers.

Usually, the sender bears the charge. I'm guessing this particular sender opted that the "beneficiary bears offshore charge".

This.

He sent exact amount, but chose the option for you to bear the charge.
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by stagger: 12:30pm On Apr 29
Hezzyluv:
They told u is the new law from CBN i.e government law.

Anything we see in this Buhari term, make we just take am. Na one chance govt. we dey

They have been charging this for a long time. Try doing a foreign transfer. You pay offshore charge, VAT, Telex charge and commission. FOUR charges!

5 Likes

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by stainlessnature: 12:31pm On Apr 29
Your sender refused to pay any charges, hence you were charged instead.

There's always an option for who pays the charges for Correspondence bank.

25usd/equivalent is the flat charge across board.

Tell your remitter to pay you the balance and move on.

5 Likes

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Foxflames: 12:33pm On Apr 29
It's $25. It's called overseas bank charges. I don't know if it is from CBN. I was charged that amount for making school fees payment in addition to other charges. seems like any FX transfer will incur that charge

1 Like

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by iwaeda: 12:34pm On Apr 29
Everest9:
Please, my fellow bloggers and digital marketers, I have a serious question to ask because I am very angry right now.

One of my partners sent a little dollar to my account through wire transfer on the 23rd of this month, on getting to my account I saw that $25 dollar was deducted from the money.

I contacted the sender and he told me that they send the exact amount which they also sent me the receipt, now I had to contact my bank (GTB) and they said that it's offshore charges and that it's a new law from CBN.

Please I am still confused right now, why will CBN issue such a law?

Please share your experience if you have ever experienced something like that before because it also means that Google Adsense payment might be deducted too

It is called offshore charges, if you send to abroad, one will have to pay. Apart from the $25, you will pay 0.01% of the amonut plus N6000, if you are sending from Nigeria. Almost all banks charge these.

8 Likes

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Grupo(m): 12:35pm On Apr 29
LaIabobo:
.
CBN promo is for remittance received not wire transfers

What is the difference between remittance and wire transfer?

1 Like

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by TEQ365VENTURES(m): 12:36pm On Apr 29
LaIabobo:
There is always offshore charge for wire transfers.

Usually, the sender bears the charge. I'm guessing this particular sender opted that the "beneficiary bears offshore charge".
Very simple thing, the sender paid the exact money to receiver without paying international transfer charges. Hence, receiver bears the cost.

2 Likes

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Nobody: 12:38pm On Apr 29
Next time ask your client to send the fund through Remitly. Fast, easy,secure. Besides their rates are cheeeep!

5 Likes 1 Share

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Godwin25king: 12:41pm On Apr 29
First Bank is worse
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by dazzlingd: 12:43pm On Apr 29
Same thing happend to me, temoving 20 dollars from my inflow, e no go better for that bank
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by 18wheeler: 12:44pm On Apr 29
Offshore charges have been in existence as long as I know. The sender normally bears the fees and that has to be clearly stated on the transfer instruction. When the sender silent about it, its applied on the value of the transfer which is what probably occurred in your case @OP.

2 Likes

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by AerialMapper: 12:45pm On Apr 29
This is the more reason why we should embrace Crypto!

I used to spend mad amount of money on transfer charges to my UK account; commission, VAT, telex charge ... until i found a loop hole

I registered my Binance account using a UK number and used my UK address and ID to open it

I buy GBP on Binance and send this straight to my UK account for a fee of 1.5 GBP only.

In a future where the use of Blockchain and crypto becomes more common, we will see lower charges bypassing these Banks that love to profit excessively!!!

7 Likes

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Pharaoh4rin(m): 12:50pm On Apr 29
Gtb deducted N435 from my account yesterday. I've been gyming since morning, cuz I'm going for them by 3pm. If they fail to satisfy me with xplanation, those Men in Black may have to separate our fight in the bank.
Nonsense!

1 Like

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Hezzyluv: 12:53pm On Apr 29
stagger:


They have been charging this for a long time. Try doing a foreign transfer. You pay offshore charge, VAT, Telex charge and commission. FOUR charges!

Noted
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by DestroyEvil: 12:58pm On Apr 29
Ok k
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by LaIabobo: 12:58pm On Apr 29
Grupo:


What is the difference between remittance and wire transfer?

In the case of CBN promo, only funds received via International Money transfer operators like Western union, etc are eligible.

Wire transfers is directly from sender's bank account to beneficiary bank through their correspondence bank
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by macrodata(m): 1:03pm On Apr 29
dvkot:
Use bitcoin
have you seen how P2P devalues your funds when you want to sell off fast?

1 Like

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by mmsen: 1:04pm On Apr 29
$25 charge for wire transfer is pretty standard for US banks.

But if you're saying that the Nigerian bank deducted the money then I don't understand that.

1 Like

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Coldie(m): 1:04pm On Apr 29
Gt bank charges alot I don't know y.


Sometimes after u do just 1 transfer u will receive like 3 debit alerts on it
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by FarahAideed: 1:04pm On Apr 29
LaIabobo:
.
CBN promo is for remittance received not wire transfers

Ohh this was wire transfer
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Grupo(m): 1:09pm On Apr 29
LaIabobo:


In the case of CBN promo, only funds received via International Money transfer operators like Western union, etc are eligible.

Wire transfers is directly from sender's bank account to beneficiary bank through their correspondence bank

The mail sent to me by banks say otherwise.

As long as dollars hit your dorm account, from outside, no matter the source, you will gain from the cbn giveaway.
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Kayceo2010: 1:10pm On Apr 29
Next time, you make use of Cryptocurrency.. You can send up to 1bn with just as little as $5 charge
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by IpobAntidote: 1:10pm On Apr 29
I often wire money to myself from US bank to my GTB dom account. They always remove something from the total transfer. I took it up with them and they couldn't give me a good explanation. I later found out that Access bank doesn't remove any charges, I have been using Access since then for my wire transfers since then. I don't think it's any CBN rule. At first they blamed my bank in the US, I called my bank and I was told that's not true. They then tried to blame it on the intermediary bank. I just stopped using my GTB dom account.
Still love GTB but no more wire transfer to my dom account.

3 Likes 1 Share

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by DRWUCH(m): 1:10pm On Apr 29
[quote author=Everest9 post=101209822]They also told me that the new CBN law started last month[/quote
Can you visit dia twitter page and report it ...let's see
Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by LaIabobo: 1:15pm On Apr 29
Grupo:


The mail sent to me by banks say otherwise.

As long as dollars hit your dorm account, from outside, no matter the source, you will gain from the cbn giveaway.

Your bank didn't give you the full information

Re: Gtbank Cut $25 From The Money I Received Offshore Charges (wire Transfer) by Yankee101: 1:15pm On Apr 29
Account to account wire transfers have charges but it's fixed
Money transfer services also have charges too
No free lunch

1 Like 1 Share

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