GT Bank launches money transfer service

Story: Boahene Asamoah

GUARANTY Trust Bank, Ghana Limited, has introduced a new instant money transfer for its customers within the sub-region.
The new money transfer known as Guaranty Trust Monetary Transfer (GTMT) would offer common platform for all of the bank’s subsidiaries.
Speaking at the launch of the programme in Accra on Tuesday, the Managing Director of the bank, Mr Dolapo Ogundimu, stated that the new product was expected to add value its money transfer by offering lowest fee, ensure safety and was available at all its branches in the country.
“GTMT is a service for both customers and non-customers in Ghana, Nigeria, Gabon, Sierra Leone and Nigeria,”, she stated.
He said the bank has a network of 143 branches across its subsidiaries and stated that its services would be extended to its operations in Liberia as well as the London offices.
The Managing Director said one unique feature of the product was that the transaction was instant as compared to other money transfers available.
“A customer will receive instant cash from a sender sending money from any of our subsidiary anywhere”, he stated.
He said the product was intended to facilitate trade and economic growth in the sub-region and assured customers of the high quality service to support their businesses.
Research has revealed that about $300,000 of remittances are received from Nigeria to Ghana especially for Nigerian students in Ghana.
The Board Chairman of the bank, Alhaji Yusif Ibrahim, who launched the product said the product would lead to what he described as the “emancipation of African trade”.
He said “this promote would promote trade, harmony and deepen south-south co-operation.”
The Gambia Ambassador to Ghana, Alhaji Mohammed Jafah, stated that the product was a good business idea that needed the support of all stakeholders.
He reiterated earlier submissions that the product would further deepen economic relations between the countries within the sub-region of West Africa.