GTBank: Funds Transfer From Savings Accounts Suspended

CBN Introduced a Cashless Policy in April 2012 to encourage Cashless transaction and further strengthen E- Banking System in Lagos, Nigeria’s Commercial Nerve Center.

GT Bank – Nigeria yesterday 31st July 2012 has Suspended Funds Transfer From Savings Account, Which Means You can Only Transfer Funds From your Current Account to anyone including other GT Bank Customers. ( To generate COT at all cost )

Questions looking For Answers

What happens to GT Bank Customers Without CURRENT Account ?

Is it Legal That a bank has to force Customers to Open/Maintain a Current Account So they can compulsorily Charge COT on every transaction ?

Why were Customers Not given prior Notice of Embargo on Funds Transfers FROM Savings Account ?

Is GT Bank on the Brink of Collapse and is embarking on Aggressive Generation of Funds to Survive ? ( Remember Intercontinental bank 25,000 Naira Minimum Deposit )

Is there no CBN Regulation that Guides These Banks ?

You cannot Withdraw More than 500,000 Naira Cash, and you cannot CASHLESSLY transfer your own Money to pay for Goods or Services Rendered EXCEPT you Pay Bank COT and/or Cashless Policy Charges.



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