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To further expand its range of convenient banking services, Guaranty Trust Bank (Ghana) Limited has teamed up with Airtel Ghana Limited to introduce mobile savings account.
Named as GTMobile Savings Account, this service offers new or existing GTBank and Airtel customers the opportunity of transacting some normal banking operations through their mobile phones by linking their mobile money wallet to their GTBank account(s).
The service allows users to make deposits into their Bank account(s) with GTBank from any location nationwide through an agent, partner bank branch or from the mobile wallet on their phones via a simple menu.
Similarly, users of this service can also move funds from their linked bank account(s) onto their mobile wallets to buy airtime, internet bundle, transfer money to loved ones, pay bills and make payment for goods and services.
Other functions include the use of mobile phone to check bank balances and request for bank mini statements, receive money on an Airtel Money account, deposit physical cash for electronic money (e-value) and withdraw cash from an Airtel money account.
Existing customers of GTBank with registered Airtel Money may request to get their mobile wallet linked to their bank accounts to enjoy this service from their mobile phones.
Other individuals without a GTBank Account or Airtel Money wallet can open a bank account and get an Airtel money wallet created for them, which would then be linked to their new bank accounts to enable them begin to enjoy the convenient banking service anytime anywhere via their mobile phones.
Mobile Wallet is a feature on mobile phones where virtual money or e-money is stored for transactions. It is protected by a Personal Identification Number (PIN). Funds stored on the Mobile Wallet are safe even if the phone or SIM card is misplaced. Once the card is replaced, the Airtel Money/GTMobile Savings account will be immediately restored.
Commenting on benefits of this service, the Managing Director of GTBank, Mr. Lekan Sanasi stated that, “the potential of this service increasing the speed of business transactions thereby adding value to bottom lines is immense”.
“From the comfort of one’s home, office or business location, you could virtually undertake a lot of normal banking transactions with a simple device such as your mobile phone”, he added.
Mr. Sanusi explained that as an IT-driven institution, GTBank is constantly looking at innovative, convenient and alternative ways to provide more convenience for its customers.
“As the world moves faster on its technological and information super-highway, people become more discerning and thus businesses such as ours must constantly adopt new and creative ways of serving customers”, the GTBank MD further stated.
He further stated that, “Considering the fact that mobile telephony usage has more spread in Ghana than computer and internet usage, this service has the potential of bringing banking services to more people, especially the unbanked”.
Other benefits of the service include being useful for the payment of school fees and remittances by parents, the disbursement of monthly allowances, tracking of payments and loan repayments by micro financial institutions and having access to funds in bank accounts outside normal banking hours.
This addition to the bouquet of numerous electronic banking products and services comes as testament to the Bank’s quest and success in offering alternative and convenient services for customers.
In 2009 and 2010, respectively, when the GTBank won Bank of the Year Awards, it also emerged Best Bank in several key awards categories including that of IT / Electronic Banking.
Presently, GTBank is ranked as the 7th Prestigious Company in Ghana on the Ghana Investment Promotions Centre’s Club 100 List and the Fastest Growing Company in Ghana in 2010.