GT Bank Launches Mobile Money Service (GTBank MobileMoney)

By | January 27, 2012

The Nigerian financial industry is going mobile, Guaranty Trust Bank Plc has joined the likes of Globacom and Paga by launching a Mobile Money Service -GTBank MobileMoney. GTBank Mobile money allows you to send money/make payments from your mobile phone to anyone in Nigeria.

According to a statement from the bank

“GTBank MobileMoney is a financial mobile phone application that allows subscribers perform their banking transactions on the move without visiting any branch. It is a more secure, convienient and affordable way to transfer funds to your friends and family anytime from the comfort of your home or office.”

At this stage the service is only available on MTN network. However, they promised to launch on other networks soon.

Various services are available on this application such as:

  • cash deposits inot your mobile money account at an agent’s location
  • funds transfers to any recipient (both mobile money subscribers and non subscribers
  • cash withdrawals from any mobile money agent. withdrawals at GTBank ATMs
  • purchase of airtime
  • check account balance
  • change account pin

How to Register

  • Dial *500# and select bank
  • Answer an authentication question. This answer will be used as identification and authetication if you have any issue with your mobile money account.
  • You will receive a text message containing your activation token (6 digits alphanumeric) eg 2211OT
  • Proceed by dialing *501# to activate your account.
  • Enter your activation token (6 digits alphanumeric) e.g 2211OT
  • Choose a four digit PIN and repeat the PIN to confirm that there are no errors.
  • You will receive a welcome text message from Mmoney. Your mobile money account is ready for use.
  • Dial *501# and your Mobile Money Menu would be displayed

For enquiries you can visit www.gtbank.com or call GTCONNECT on 01 448 4000, 0802 900 2900, 0802 900 3900

This is sign of good things to come for Nigeria’s Tech industry which has been faced with challenge of suitable payment system.

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3 thoughts on “GT Bank Launches Mobile Money Service (GTBank MobileMoney)

  1. David A.

    who pays for the transaction? the sender or the receiver or both. 2. what are the terms and conditions 3. how does this differ from etranzact?

    Reply
  2. Olasunkanmi Shomosu

    I don’t know if this service supports transferring cash to your own bank account(or someone else’s bank account) from ones mobile airtime account.
    If it does, a subscriber can recharge e.g.#50000 and send it to a receiver elsewhere, and that receiver can get it in cash.

    What are the terms and condition?
    What are d costs of operation?
    What does the mobile operator charge for the registration and the services?
    Is it same as etranzact’s mobilemoni?

    Reply
  3. kcee

    I dey hale this bank. They are one of the most innovative banks in nigeria when it comes to information technology.

    Reply

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