Types Of Guaranty Trust Bank Accounts – All You Need To Know, Guaranty Trust Bank is a financial service provider that offers multiple banking services, including payment services, retail banking, pension management, investment banking, and asset management.
Guaranty Trust Bank Profile
Guaranty Trust Bank is a multinational financial service group established in 1990 and regulated by the Central Bank of Nigeria to offer banking services to Nigerians in general.
Guaranty Trust Bank Accounts help the general public maintain their finances. Guaranty Trust Bank started functioning as a commercial bank with its headquarters at The Plaza, Adeyemo Alakija, Victoria Island, Lagos State.
Its services spread to Gambia and Sierra Leone after receiving a Universal Banking License in February 2022 and being assigned as a settlement bank in 2003.
Guaranty Trust Bank Accounts which an interested individual can access, include current and savings accounts.
Who Owns Guaranty Trust Bank
Guaranty Trust Bank was established by Tajudeen Afolabi Adeola, a Nigerian investor, and renowned businessman.
The bank where individuals can open Guaranty Trust Bank Accounts was formed by Mr. Tajudeen Afolabi Adeola and Tayo Aderinokun. Mr. Tajudeen worked as the managing director and chief executive officer for 12 years before handing over to his deputy.
Guaranty Trust Bank Accounts are specifically made for the financial needs of customers.
How To Open A Guaranty Trust Bank Accounts
An individual who intends to enjoy the multiple benefits from Guaranty Trust Bank Accounts must first open an account with Guaranty Trust Bank. It’s pretty simple, as an individual can open an account using their mobile device. Below are the steps to open a Guaranty Trust Bank Account.
- Visit the Guaranty Trust Bank website.
- Select the “Create An Account” option.
- Select the specific type of Guaranty Trust Bank Accounts to create.
- Then, you must conduct a Bank Verification Number validation.
- Complete the account opening form and submit it.
- After that, you would need to visit the nearest Guaranty Trust Bank to submit some vital documents such as a National ID.
Requirements For Opening A Guaranty Trust Bank Account
For an individual to successfully access Guaranty Trust Bank Accounts, there are specific requirements that an individual must fulfill.
- An applicant must be up to at least 18 years old.
- An applicant must have a valid means of identification.
- An applicant must have a phone number, email address, and other personal documents.
Information Guaranty Trust Bank Will Ask You To Provide
- Mobile number.
- Bank Verification Number (BVN).
- Valid means of identification.
- One passport photograph.
- Utility bill issued within the last 3 months.
- Memorandum and Articles of Association (Current Account).
- A KYC would be conducted.
The Information Required For The Full KYC Account includes;
- Name (in total).
- Mobile number.
- Bank Verification Number (BVN).
- Valid means of identification.
- Personal photo.
Types Of Guaranty Trust Bank Accounts
Guaranty Trust Bank has numerous bank accounts that interest individuals who can research and decide the best for usage. Below are the types of Guaranty Trust Bank Accounts which interested individuals can suitably consider.
Savings Account is one of the Guaranty Trust Bank Accounts available for account seekers. One can comfortably create a savings account with Guaranty Trust Bank and enjoy the high interest and low charges. Some of the savings account options include;
- Smart Kids Save.
- Call Account.
A current Account is another type of Guaranty Trust Bank Account that one can consider to manage their finances. This account type does not just offer cheques and balances; they suitably provide customers with a massive banking experience.
The options which are available to customers under current accounts include;
- Domiciliary Account.
- Seniors Account.
- Fixed and Tenured Deposits.
How To Get A Loan Or Overdraft From Guaranty Trust Bank
An individual who has either of the Guaranty Trust Bank Accounts can apply for and get either a loan or an overdraft. These loans or overdrafts can be obtained during financial needs.
To apply for a loan or overdraft from Guaranty Trust Bank through either of the available Guaranty Trust Bank Accounts, one would need to use the Guaranty Trust Bank loan code or visit their nearest branch.
Requirements For Guaranty Trust Bank Loan
Some of the requirements which an individual must fulfill to be eligible for Guaranty Trust Bank loans include;
- A customer must maintain a minimum monthly lodgement of N20,000 or earn a net monthly salary of N10,000.
- A customer must have satisfactory credit reports.
- A customer must not have any history of dud cheques.
The Benefits Of The Guaranty Trust Bank Accounts
Guaranty Trust Bank Accounts offers individuals a very suitable way of maintaining their finances and meeting their respective goals. Some of the benefits of using Guaranty Trust Bank Accounts include;
- Customized checkbooks.
- Access to loans and overdrafts.
- Interest on the daily account balance.
- Minimum charges on transactions.
- Increased spending limit via credit lines.
Guaranty Trust Bank Cards
One can apply for Guaranty Trust Bank cards once they have successfully opened either of the provided Guaranty Trust Bank Accounts.
There are multiple cards that an individual can utilize in conducting online and physical transactions. An individual can apply and get Guaranty Trust Bank Accounts Cards which include Naira MasterCard, Platinum MasterCard, and GTInstant Card.
Guaranty Trust Bank Fees
Guaranty Trust Bank charges some fees on transactions performed by Guaranty Trust Bank Accounts holders. These fees are charged on transactions conducted through the Guaranty Trust Bank Accounts.
Guaranty Trust Bank charges N50 + N2.50 VAT on instant transfers, while transfers on other banking channels are free.
How Guaranty Trust Bank Makes Its Money
Guaranty Trust Bank makes money from customers through various banking services that are being provided.
There is a massive number of customers who has either of the available Guaranty Trust Bank Accounts. Some of how Guaranty Trust Bank makes its money include;
- Deposits from Guaranty Trust Bank Accounts holders.
- interest on credit facilities offered to customers.
- Charges on transactions being conducted through Guaranty Trust Bank.
Pros Of Guaranty Trust Bank
Guaranty Trust Bank is one of the most active and best African banks, with a significant presence in Nigeria. Some of the pros of Guaranty Trust Bank which Guaranty Trust Bank Accounts holders can benefit from include;
- Interest on the savings account.
- Access to various credit facilities.
- Lesser fees on transactions conducted using Guaranty Trust Bank.
- Guaranty Trust Bank Accounts holders can make payments through Debit and Credit cards.
Cons Of Guaranty Trust Bank
- Restriction on massive deposits on some Guaranty Trust Bank Accounts.
Guaranty Trust Bank USSD Code
Guaranty Trust Bank Accounts holders can make transactions from their bank accounts using the transaction USSD code.
To make transfers from the Guaranty Trust Bank Accounts, one can utilize the USSD code *737#. Using this code, one can carefully conduct transactions from the Guaranty Trust Bank Accounts.
Requirements To Register For The Guaranty Trust Bank Transfer Code
Before an individual can register for the Guaranty Trust Bank Transfer code, they must provide the below information.
- Phone number linked to the bank account.
- Account number with Guaranty Trust Bank.
- Debit card details.
One can suitably dial *737#, select the option to register for Guaranty Trust Bank transfer USSD code, provide the last 6 digits of their debit card, create a 4-digit pin, confirm and then send.
How To Contact Guaranty Trust Bank Customer Care
Guaranty Trust Bank Accounts holders can contact Guaranty Trust Bank customer care when they need to resolve a complaint.
An individual can visit the Guaranty Trust Bank official website and have a Live Chat with their help desk. Alternatively, one can use the contact below to reach out to Guaranty Trust Bank customer care.
Call: 0700 4826 66328
Guaranty Trust Bank remains one of the best banking service provider in Nigeria and continually offer the best of services.
We hope this article provides detailed information on the types of Guaranty Trust Bank Accounts.
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