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GTB Cancels Fees on Transfer of up to 5k to Encourage Customers to go Cashless

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Guaranty Trust Bank (GTB) has canceled fees for transitions that are less than or equal to N5,000 in order to encourage Nigerians to go cashless in the face of the trending coronavirus pandemic.

GTB said in an email to customers that “from now till the 31st of March 2020, when you want to give money to family, help out a friend in need, pay for items at any grocery store, or send money to anyone at all, you will not be charged on transfers of up to N5,000.”

This is a step in the right direction as health organisations and experts have admonished people to go cashless as the coronavirus could be spread via exchange of cash. Presently in Nigeria, there are 22 cases of coronavirus in the country.

“This is our little way of encouraging you to go cashless on all your transactions, no matter how small; it is the safer and more convenient thing to do, especially at this time, GTB added.

The free transfer fee of up to 5k is available for use on any of the bank’s mobile banking channels; GTBank Mobile App or GTWorld, internet banking platform, and *737#.

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