crisycent:


You never hear say people dey buy account? Don't be a learner!

olayinkajnr:


In as much as the op is right, he is wrong about the last 4 digits on the ATM card. The pin required to complete any transfer using the 737 code is your ATM card pin, which I believe those thieves won't have guessed right if the victim didn't tell them when threatened. I also make use of the 737 service to transfer and perform other transactions and I've never been asked to input any last 4 digit of ATM card. Only your ATM pin will be requested.. Op, Pls next time, make your findings well before u conclude.

horsepower24:


I run a GTBank account too and I wonder what charges they deduct from your account that there is no justification for.

DeRuggedProf:
Scratch off the last two digits on your card and save them in your head.

coolbreeze44:
The advantage is more than the disadvantage. The introduction of the BVN makes so much sense when theft such as that mentioned by the OP is perpetuated. It will take less than 10mins to get to know the criminals that did that. I am sure the GTB management would have done a proper survey and brainstorming before embarking on the *737# concepts.

horsepower24:

Bros. Lie small small. The highest transfer on that *737* is 100k daily.

I had a friend who was threatened to transfer money and he reported the case to the police got a police report and his funds were returned after the culprit was apprehended.

Police report is just for checks so that I don't come back and claim that a legitimate transfer between me and you was a fraud. How would you feel if someone you did a job for pays you after so much wahala and goes to the bank that he mistakenly transfers the money to you. And the bank reverses the transaction? Now the onus is on the police to ensure proper investigation is done before releasing such reports.

I am a lawyer and I av worked on some cases as this with banks and I have noticed that most times, customers lie.

hemartins:
Op, that's absolutely true. A separate pin should be used apart from the digit on the atm.
But still it's not a beautiful nonsense.

dejiboy:
You think a criminal will be so gullible to transfer the said money to his personal account? Such money will be transfered using a third party account and possibly the third party won't knw much abt the criminal.so bvn catches the wrong person.

olayinkajnr:


In as much as the op is right, he is wrong about the last 4 digits on the ATM card. The pin required to complete any transfer using the 737 code is your ATM card pin, which I believe those thieves won't have guessed right if the victim didn't tell them when threatened. I also make use of the 737 service to transfer and perform other transactions and I've never been asked to input any last 4 digit of ATM card. Only your ATM pin will be requested.. Op, Pls next time, make your findings well before u conclude.

jarkbauer:
This commentary is a beautiful nonsense.
Your condemnation of the idea was outright
Should banks stop issuing ATM cards because an armed robbers can hijack you and ask for your PIN?
Guard your phone and ATM cards.

x240:


If you would go on and give evidence to back up your assertions next time and not just calling something a lie you won't be railroaded.

Still waiting for your screenshot where gtb asks for atm pin by the way.

Fact is this silly 737 service is not secure and gtb should own up and make changes else i am moving my money and salary account to zenith or union bank.

I can't loose my hard earned money due to a banks stu.pi.dity and lack of awareness of what the environment they operate in is like.

dejiboy:
Your comment has proved you don't use the service,if you do you would be aware that th last four digit is what is required and not your ATM pin,you need to make yoiur research and not the OP.

nex:
Well, as much as I agree that people should be able to choose their own 4-digit codes themselves, I don't believe it is necessary, because whoever uses *737# to illegally transfer money from someone else's account to their own account has carefully mapped their way to jail.

With Biometric BVN registration, the account which that money landed in will identify the thief or their beneficiary, and they will soon get caught. In fact, we need situations like this where thieves will be taught the futility of their crime.

jagojunior:


I expect a lawyer to have a good sense of comprehension. Saying my folk got scammed of 320k doesn't translate to being scammed via the *737# portal. As a lawyer, you shouldn't have concluded like that, won't insult you cos I believe you have learnt something from your mistake. I only brought that instance up to show y'all that the process of recovering stolen fund via fund transfer (whether *737# or others) even with the introduction of BVN isn't as easy and fast as they are presenting it. It is not just tasking but involves more spending, suspense, time consuming and tension between you, family and the bank. I'm speaking from experience here. Don't forget that the victim must continue to live, you know the rest. Peace

olayinkajnr:



Dude, I don't remember where I said the op lied. Seems comprehending simple English is a problem for you. I said in as much as the op is right, he is wrong about the last 4 digits stuff. That's my assertion and I stand to be corrected which of course you did but trying to buttress your points with an insult is very bad. What I said was my experience with the service and I only use my atm pin code to complete any transaction using 737 service and about the ss, you don't expect me to show you an ss of the point where I input my pin.... But from your ss, I've come to understand that you can either use your atm pin or the last 4 digits of your card (a flaw on the part of gtb).

coolbreeze44:
The advantage is more than the disadvantage. The introduction of the BVN makes so much sense when theft such as that mentioned by the OP is perpetuated. It will take less than 10mins to get to know the criminals that did that. I am sure the GTB management would have done a proper survey and brainstorming before embarking on the *737# concepts.

NigerianMusic:
If you have bank account with GTBank, this is a must read for you....

SOURCE --------> http://hypenigeria.com/2016/04/09/why-gtbank-latest-737-simple-mobile-banking-is-a-beautiful-nonsense-uc-artt-ekwueme/

Last Month, Nigerians on social media were tricked by the suspenseful trend "What Is The 737?" popping up, from hashtags to sponsored ads and billboard campaigns. Little did we know that one of Africa's largest and leading contemporary banks, Guaranty Trust Bank Plc widely known as GTBank in Nigeria, who are behind the trend was about to hit us with yet another "innovative banking service."

GTBank-Launches-Innovative-Service-Delivery-Channel-–-Bank-737

Weeks later, it was officially launched to the public, albeit it has been in operation weeks prior to it's official introduction, as i have used It twice last month.

They say " Just Dial *737# "

It's as easy as that. What this service simply does is that by just dailing *737# you can either

1. Open a GTBank Account

2. Transfer Money ( anytime of the day 24/7)

3. Purchase Airtime

4. Check account balance and many more, right at the convenience of your fingertips, using jusy your mobile phone ( even a Nokia torch will perform this service, apparently you don't require any internet access to do so) ... but am here to talk about the security risk sorrounding the "Fund Transfer" service included and why it's a 'beautiful nonsense'

Just yesterday a friend of mine called me and was lamenting on how some group of boys ganged up against him and made off with his GTBank ATM card and cell phone, at about 7:21pm somwhere in Suleja. Getting to a nearby branch to lay complaint of his stolen card the next day, alas 20,000 Naira has been hijacked off his bank account already.

"Chai !! na wa ooo, for this dollar bill economy.. I exclaimed as he narrates his ordeal to me. And sadly, that' actually to the last penny savings on his account. Unfortunately, prior to the ugly incident, this dude was not aware of the bank's newly introduced banking service. Thus wouldn't have known that with just your GTBank ATM card and registered phone number its now easy to transfer money from one bank account to another in a minute.

HOW THEY DID IT, and WHY IT'S a 'BEAUTIFUL NONSENSE' ??

Now that's why I called this service a 'beautiful nonsense' because of its high risk and poor security. Of course since they were in possession of his cell phone and GTBank ATM naira Mastercard, the 'innovative smart criminals' dialed *737# followed the instructions, filled in the amount they wanted, their account number, their bank and lastly 4-digit security code which is the last 4 digits on the ATM card, and boom !!! the money is transfered right inside their own account.

SOURDE ----------> http://hypenigeria.com/2016/04/09/why-gtbank-latest-737-simple-mobile-banking-is-a-beautiful-nonsense-uc-artt-ekwueme/

The bank brags that this service is safe and convenient. 'Convenient' ? Yes for sure, but 'Safe' ? a big NO, and will never be safe with the current procedure for money transfer, even if Vincent Enyeama decides to make a U - turn back to the Super Eagles.

We all know many Nigerians banking with Guaranty Trust Bank still stands a high risk of losing their money to smart bad guys, we all know an average Nigerian moves about to his or her office and almost everywhere with ATM card and cell phone, and we know what that means (that isnto say; criminals can even walk up to you and do the smart move.) We also know many children have easy access to their parents cell phone, which most will know the last four digits of their ATM card, and we know what that means.

One of the major essence of keeping our money in the bank is for safety, what then happens when banks services are no longer safe ? It becomes a 'beautiful nonsense.'

MY SUGGESTION / SECURITY SOLUTION

I suggest to, and advice the management of GTBank to consider the following for safety of their *737# Money Transfer service.

1. Customers Must Choose their 4-digits code by themselves

Just like the ATM card security code for withdrawals, rather than making the last 4 digits of customers naira master card as default security code for money transfer, it should be a decision for each customer to choose whatever 4 digits he or she wants as security code. Thus nobody, even if they are in possession of your ATM card and cell phone can temper with the money in your bank account.

2. It Should Be Optional

I strongly suggest for security reasons, that this particular service should be optional. Of course as it stands now, the service is automatically activated for all GTBank account holders with their ( ATM) Naira Mastercard . This is an epic fail by the company, I must bluntly say.

So I firmly stand that customers should be allowed to decide if such services be activated on their bank account or not, as many Nigerians operate accounts with different banks each for a particular purpose.

SEE ALSO : Nigerian Naira On the Fall Again In the Parallel Market

MY CONCLUSION

All said and yet to be done, while we await on the management of GTBank to act with immediate affect to these regards, I will advise my fellow Nigerians banking with Guaranty Trust Bank to stay at alert and avoid risking their hard earned money in this though economy to bad guys.

Thank you all for reading through. I hope I made a few sense with my 'beautiful nonsense.' Until I write you again, stay blessed and keep making legal money. I remain Uc Artt Ekwueme (Chief Editor for HypeNigeria.com) ucarttekwueme@gmail.com ...drops pen....Bye.

Make sure you Share this insightful piece with Friends and Love ones to help them keep their money Safe.

SOURCE -------> http://hypenigeria.com/2016/04/09/why-gtbank-latest-737-simple-mobile-banking-is-a-beautiful-nonsense-uc-artt-ekwueme/

NigerianMusic:
If you have bank account with GTBank, this is a must read for you....

SOURCE --------> http://hypenigeria.com/2016/04/09/why-gtbank-latest-737-simple-mobile-banking-is-a-beautiful-nonsense-uc-artt-ekwueme/

Last Month, Nigerians on social media were tricked by the suspenseful trend "What Is The 737?" popping up, from hashtags to sponsored ads and billboard campaigns. Little did we know that one of Africa's largest and leading contemporary banks, Guaranty Trust Bank Plc widely known as GTBank in Nigeria, who are behind the trend was about to hit us with yet another "innovative banking service."

GTBank-Launches-Innovative-Service-Delivery-Channel-–-Bank-737

Weeks later, it was officially launched to the public, albeit it has been in operation weeks prior to it's official introduction, as i have used It twice last month.

They say " Just Dial *737# "

It's as easy as that. What this service simply does is that by just dailing *737# you can either

1. Open a GTBank Account

2. Transfer Money ( anytime of the day 24/7)

3. Purchase Airtime

4. Check account balance and many more, right at the convenience of your fingertips, using jusy your mobile phone ( even a Nokia torch will perform this service, apparently you don't require any internet access to do so) ... but am here to talk about the security risk sorrounding the "Fund Transfer" service included and why it's a 'beautiful nonsense'

Just yesterday a friend of mine called me and was lamenting on how some group of boys ganged up against him and made off with his GTBank ATM card and cell phone, at about 7:21pm somwhere in Suleja. Getting to a nearby branch to lay complaint of his stolen card the next day, alas 20,000 Naira has been hijacked off his bank account already.

"Chai !! na wa ooo, for this dollar bill economy.. I exclaimed as he narrates his ordeal to me. And sadly, that' actually to the last penny savings on his account. Unfortunately, prior to the ugly incident, this dude was not aware of the bank's newly introduced banking service. Thus wouldn't have known that with just your GTBank ATM card and registered phone number its now easy to transfer money from one bank account to another in a minute.

HOW THEY DID IT, and WHY IT'S a 'BEAUTIFUL NONSENSE' ??

Now that's why I called this service a 'beautiful nonsense' because of its high risk and poor security. Of course since they were in possession of his cell phone and GTBank ATM naira Mastercard, the 'innovative smart criminals' dialed *737# followed the instructions, filled in the amount they wanted, their account number, their bank and lastly 4-digit security code which is the last 4 digits on the ATM card, and boom !!! the money is transfered right inside their own account.

SOURDE ----------> http://hypenigeria.com/2016/04/09/why-gtbank-latest-737-simple-mobile-banking-is-a-beautiful-nonsense-uc-artt-ekwueme/

The bank brags that this service is safe and convenient. 'Convenient' ? Yes for sure, but 'Safe' ? a big NO, and will never be safe with the current procedure for money transfer, even if Vincent Enyeama decides to make a U - turn back to the Super Eagles.

We all know many Nigerians banking with Guaranty Trust Bank still stands a high risk of losing their money to smart bad guys, we all know an average Nigerian moves about to his or her office and almost everywhere with ATM card and cell phone, and we know what that means (that isnto say; criminals can even walk up to you and do the smart move.) We also know many children have easy access to their parents cell phone, which most will know the last four digits of their ATM card, and we know what that means.

One of the major essence of keeping our money in the bank is for safety, what then happens when banks services are no longer safe ? It becomes a 'beautiful nonsense.'

MY SUGGESTION / SECURITY SOLUTION

I suggest to, and advice the management of GTBank to consider the following for safety of their *737# Money Transfer service.

1. Customers Must Choose their 4-digits code by themselves

Just like the ATM card security code for withdrawals, rather than making the last 4 digits of customers naira master card as default security code for money transfer, it should be a decision for each customer to choose whatever 4 digits he or she wants as security code. Thus nobody, even if they are in possession of your ATM card and cell phone can temper with the money in your bank account.

2. It Should Be Optional

I strongly suggest for security reasons, that this particular service should be optional. Of course as it stands now, the service is automatically activated for all GTBank account holders with their ( ATM) Naira Mastercard . This is an epic fail by the company, I must bluntly say.

So I firmly stand that customers should be allowed to decide if such services be activated on their bank account or not, as many Nigerians operate accounts with different banks each for a particular purpose.

SEE ALSO : Nigerian Naira On the Fall Again In the Parallel Market

MY CONCLUSION

All said and yet to be done, while we await on the management of GTBank to act with immediate affect to these regards, I will advise my fellow Nigerians banking with Guaranty Trust Bank to stay at alert and avoid risking their hard earned money in this though economy to bad guys.

Thank you all for reading through. I hope I made a few sense with my 'beautiful nonsense.' Until I write you again, stay blessed and keep making legal money. I remain Uc Artt Ekwueme (Chief Editor for HypeNigeria.com) ucarttekwueme@gmail.com ...drops pen....Bye.

Make sure you Share this insightful piece with Friends and Love ones to help them keep their money Safe.

SOURCE -------> http://hypenigeria.com/2016/04/09/why-gtbank-latest-737-simple-mobile-banking-is-a-beautiful-nonsense-uc-artt-ekwueme/

NigerianMusic:
If you have bank account with GTBank, this is a must read for you....

SOURCE --------> http://hypenigeria.com/2016/04/09/why-gtbank-latest-737-simple-mobile-banking-is-a-beautiful-nonsense-uc-artt-ekwueme/

Last Month, Nigerians on social media were tricked by the suspenseful trend "What Is The 737?" popping up, from hashtags to sponsored ads and billboard campaigns. Little did we know that one of Africa's largest and leading contemporary banks, Guaranty Trust Bank Plc widely known as GTBank in Nigeria, who are behind the trend was about to hit us with yet another "innovative banking service."

GTBank-Launches-Innovative-Service-Delivery-Channel-–-Bank-737

Weeks later, it was officially launched to the public, albeit it has been in operation weeks prior to it's official introduction, as i have used It twice last month.

They say " Just Dial *737# "

It's as easy as that. What this service simply does is that by just dailing *737# you can either

1. Open a GTBank Account

2. Transfer Money ( anytime of the day 24/7)

3. Purchase Airtime

4. Check account balance and many more, right at the convenience of your fingertips, using jusy your mobile phone ( even a Nokia torch will perform this service, apparently you don't require any internet access to do so) ... but am here to talk about the security risk sorrounding the "Fund Transfer" service included and why it's a 'beautiful nonsense'

Just yesterday a friend of mine called me and was lamenting on how some group of boys ganged up against him and made off with his GTBank ATM card and cell phone, at about 7:21pm somwhere in Suleja. Getting to a nearby branch to lay complaint of his stolen card the next day, alas 20,000 Naira has been hijacked off his bank account already.

"Chai !! na wa ooo, for this dollar bill economy.. I exclaimed as he narrates his ordeal to me. And sadly, that' actually to the last penny savings on his account. Unfortunately, prior to the ugly incident, this dude was not aware of the bank's newly introduced banking service. Thus wouldn't have known that with just your GTBank ATM card and registered phone number its now easy to transfer money from one bank account to another in a minute.

HOW THEY DID IT, and WHY IT'S a 'BEAUTIFUL NONSENSE' ??

Now that's why I called this service a 'beautiful nonsense' because of its high risk and poor security. Of course since they were in possession of his cell phone and GTBank ATM naira Mastercard, the 'innovative smart criminals' dialed *737# followed the instructions, filled in the amount they wanted, their account number, their bank and lastly 4-digit security code which is the last 4 digits on the ATM card, and boom !!! the money is transfered right inside their own account.

SOURDE ----------> http://hypenigeria.com/2016/04/09/why-gtbank-latest-737-simple-mobile-banking-is-a-beautiful-nonsense-uc-artt-ekwueme/

The bank brags that this service is safe and convenient. 'Convenient' ? Yes for sure, but 'Safe' ? a big NO, and will never be safe with the current procedure for money transfer, even if Vincent Enyeama decides to make a U - turn back to the Super Eagles.

We all know many Nigerians banking with Guaranty Trust Bank still stands a high risk of losing their money to smart bad guys, we all know an average Nigerian moves about to his or her office and almost everywhere with ATM card and cell phone, and we know what that means (that isnto say; criminals can even walk up to you and do the smart move.) We also know many children have easy access to their parents cell phone, which most will know the last four digits of their ATM card, and we know what that means.

One of the major essence of keeping our money in the bank is for safety, what then happens when banks services are no longer safe ? It becomes a 'beautiful nonsense.'

MY SUGGESTION / SECURITY SOLUTION

I suggest to, and advice the management of GTBank to consider the following for safety of their *737# Money Transfer service.

1. Customers Must Choose their 4-digits code by themselves

Just like the ATM card security code for withdrawals, rather than making the last 4 digits of customers naira master card as default security code for money transfer, it should be a decision for each customer to choose whatever 4 digits he or she wants as security code. Thus nobody, even if they are in possession of your ATM card and cell phone can temper with the money in your bank account.

2. It Should Be Optional

I strongly suggest for security reasons, that this particular service should be optional. Of course as it stands now, the service is automatically activated for all GTBank account holders with their ( ATM) Naira Mastercard . This is an epic fail by the company, I must bluntly say.

So I firmly stand that customers should be allowed to decide if such services be activated on their bank account or not, as many Nigerians operate accounts with different banks each for a particular purpose.

SEE ALSO : Nigerian Naira On the Fall Again In the Parallel Market

MY CONCLUSION

All said and yet to be done, while we await on the management of GTBank to act with immediate affect to these regards, I will advise my fellow Nigerians banking with Guaranty Trust Bank to stay at alert and avoid risking their hard earned money in this though economy to bad guys.

Thank you all for reading through. I hope I made a few sense with my 'beautiful nonsense.' Until I write you again, stay blessed and keep making legal money. I remain Uc Artt Ekwueme (Chief Editor for HypeNigeria.com) ucarttekwueme@gmail.com ...drops pen....Bye.

Make sure you Share this insightful piece with Friends and Love ones to help them keep their money Safe.

SOURCE -------> http://hypenigeria.com/2016/04/09/why-gtbank-latest-737-simple-mobile-banking-is-a-beautiful-nonsense-uc-artt-ekwueme/

jarkbauer:
This commentary is a beautiful nonsense.
Your condemnation of the idea was outright
Should banks stop issuing ATM cards because an armed robbers can hijack you and ask for your PIN?
Guard your phone and ATM cards.

Rinato:
Mr OP a beautiful nonsense as you ve termed it. First allow me to say you have made a seemingly sensible average nonsense. Why


Your no 1 suggestion was for customers to choose their pin. Well I guess it made a difference since your friend was attacked and the attackers only made away with his ATM card and phone. Trust me this could only have been done if they are certain that he is with his ATM card and uses GTB. However what you are suggesting only gives room for a more dicey situation.

And that is if they have a sure information that he is with any valuables he can be kidnapped and thereby torture his pin out ov him and eventually kill him.

In this scenario nothing was left to chance, but in the first, his life was spared.

And I can agree with it been optional. But trust me I personally m using this service and enjoying it. It's really convenient.


But the truth is, if an evil plan is going to befall someone, only God can stop it.

So Mr OP this so-called beautiful nonsense is actually a brilliant strategy for working and living convenience

coolbreeze44:
when theft such as that mentioned by the OP is perpetuated. It will take less than 10mins to get to know the criminals that did that...

vantage7:
The funds are easily traceable because it's an electronic transfer to ANOTHER account.

moshoodn:
Cash transfers culprits will be easier to track down in a BVN compliant system....

vantage7:
I mean, you might lose the money for a few days but in the end you'll get it back and the criminals arrested

coolbreeze44:
The advantage is more than the disadvantage. The introduction of the BVN makes so much sense when theft such as that mentioned by the OP is perpetuated. It will take less than 10mins to get to know the criminals that did that. I am sure the GTB management would have done a proper survey and brainstorming before embarking on the *737# concepts.