Few years back, I had wished I could make a fund transfer from my GTBank Savings Account to other banks in Nigeria but I couldn’t. Unlike First Bank Nigeria Plc, which allows a third party transfer to other Nigerian banks directly from Savings Account, Guaranty Trust Bank Plc does not offer this feature on their internet banking platform.
This morning, I was woken by my email alert tone from GTBank announcing a third party transfer feature on their online banking platform. I was like wow… this is what I have been waiting for.
As from today, I can now transfer to First Bank, UBA, Zenith, Skye, Ecobank, and all other banks in Nigeria without having to run a Current Account with GTB. Isn’t that wonderful?
How I Transferred Money from My GTBank savings Account to My First Bank Account
To send money to your friends using another bank apart from GTB is as simple as ‘ABC’. Follow the steps below to make your transfer:
1. Logon to your GTBank Internet Banking account at https://ibank.gtbank.com/ibank3/login.aspx
2. Once inside your account, click Transfer to expand it area and then click NEFT Transfer to Other Banks
3. To effect your transfer, simply fill the transaction details on that page. But before you carry on, you will need to Add Beneficiary first. So click the box in front of ‘To’ and select Add New Beneficiary
4.After you must have successfully added the details of the person you want to send money to, the page will reload and from there you can transfer whatever amount you want to transfer to that person.
5. Fill the form and you will be ask if you really want to initiate the transfer, just click YES
6. You will be led to the Confirmation Page where you will enter the code generated by your Token device
7. Then click the Submit button and your transfer will be processed and the money will be sent accordingly.
GTBank claims the receiver will receive the money in his/her account within 24 hours and the maximum amount that you can transfer using this medium is N500,000.
I really like this new feature. Yes, GTBank has really stepped up as usual but GTB don’t actually disclose if there is any charge or not. Unlike First Bank’s third party transfer that charges N105 for every transfer below N500,000, GTBank do not disclose it charges.
So to determine inter-bank transfer charges, I actually made a transfer from my GTBank Savings Account to my First Bank account. I transferred N1,000 and an extra N37 was deducted. I want to believe that GTB charges N37 for each third party transfer below N500,000.
What do you think about this new development by GTBank? Like this post and share with your friends.
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