GTBank partners Etisalat on retail banking solution

AS part of efforts to improve savings culture and enhance under-banked individuals operate an account, Guaranty Trust Bank, has partnered with Etisalat, in Nigeria to create GTEasySavers, a savings account which enables individuals to achieve financial goals while operating a regular bank account via mobile phones.

The synergy from both sectors will enhance service delivery and offer customers, unparalleled lifestyle with loyalty benefits. Registered subscribers of Etisalat network can conveniently open a GTEasySavers account by simply dialing a USSD short code –“737*0#”via their mobile phones, and a ten digit GTBank account number is sent via SMS immediately.

Funding of the account can be done by Cash deposits at Etisalat Experience Centers and GTBank branches; electronic transfers from other bank accounts; Cash Deposit ATMs at GTBank branches and GT Express Agent locations.

Speaking on the partnership, the Managing Director and Chief Executive Officer, Guaranty Trust Bank Plc, Segun Agbaje said, we are passionate about driving the CBN’s financial inclusion strategy in ensuring the under banked and unbanked, begin to find the propositions of banking services more attractive and convenient and then take the bold step of patronizing our numerous bank products and offerings, a passion which we fully share with Etisalat Nigeria.

The GTEasySavers account operates like a regular bank account and is in line with the Central Bank of Nigeria’s financial inclusion strategy for the country.

Transaction limits on the account is pegged at CBN’s Tier 1 KYC status limits of N20, 000 for single deposits and maximum cumulative of N200,000 account balance at any point in time.

Benefits for account holders include free airtime, higher interest rates on savings and quarterly rewards. According to Chief Executive Officer, Etisalat Nigeria, Matthew Willsher, the new chapter is a continued growth of the banking industry made possible through GTEasySavers by GTBank and Etisalat Nigeria.

“Enabling account opening via an Etisalat phone will make it more convenient for individuals to carry out transactions using the transformative power of the banking system.

Etisalat currently has the highest quality network in Nigeria and our partnership with GTBank is designed to add value to the lives of our customers and make banking more accessible”.

“We will continue to offer innovative products and services in fulfillment of the promise we made to Nigeria over six years ago when we commenced operations in the country.

The partnership will also begin the journey for unbanked customers from our over 22 million subscriber base, he said.     Head of eBusiness, Etisalat Nigeria, Bolaji Lawal, said the alliance is an avenue to strengthen the financial system and encourage savings which makes banking easier.

Customers who sign up for this account need not provide any initial documentation but can upgrade the status of their accounts to Tier 3 at any time, by simply visiting any GTBank branch with additional information/ documentation, including a valid identification card and utility bill.