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Posted by Felix Okoli on Monday May 25, 2015 at 13:37:45:

GTBank is truly going places as there seem to be among the first in launching innovative services. The first time I mentioned their USSD based *737* service, it was for a Virtual Airtime Top-up service but now they've gone a bit further by making it possible for customers to also do money transfers using the same USSD code *737*.

I recently tried it out and it's already working. With GTbank is has really become easy to transfer money from one bank account to another and in minutes.

You no longer have to go to the bank, use an ATM or internet banking service when you can simply do it on your phone. This service however is for low value transactions and not for high ones.

Just by dialing **737*1*Amount*NUBAN Account No#, you will be able to transfer money from your GTbank account to another GTbank account and by dialing *737*2*Amount*NUBAN Account No#, you will be able to transfer from GTBank to other banks. It has a maximum limit of N20,000 and a minimum of N1000 only.

The NUBAN account is the 10 digit account which Nigerian banks now use and you don't need to do any registration or application at your GTBank branch before using this service since it's already activated for the phone number which you registered with your bank.

As I mentioned, I tried out the service on Sunday and it works. I used it for an inter-bank transfer by dialing the code *737*2*Amount*NUBAN Account No#. The next thing I provided was the destination bank which I chose by pressing a number and afterwards I entered the last 4 digits of my Mastercard and it was sent. I received a reply that it is being processed and within 5 minutes my account was debited while the beneficiary's account was also credited with the same value.

Are there any charges for using this service? Well, I was charged about N105 by GTBank and also some small charges from my phone's credit by my network for using the USSD service.

In the past, I used to use internet banking, ATM and even Quickteller to do money transfer but lately, I think I might get addicted to GTBank's USSD money transfer service because it is more convenient.

GTbank customers do not need any other thing to use this service other than their mobile phones and some airtime credit. A USSD request may cost about N4 per use.

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Comments:
Re: USSD based Money transfer service launched by GTBank Reply by Pharbolous on Saturday June 6, 2015 at 8:19:18:

Yea! it really work me too

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