The best approach to treat savings is to treat it like any other recurring expense; something paid for regularly, and Spend 2 Save will do this for you. Whether your goal is to build up short-term or long-term savings, a Spend 2 Save account can make it easier to get started.
The Spend 2 Save service automatically allows you save between 1 to 5% of all expenses made from your GTBank Account.
With Spend 2 Save, you can start saving with just a few simple steps:
- Log on to Internet Banking with existing credentials.
- Click on ‘Self-Service menu’ and select the Spend 2 Save option
- Click on’ New request’
- Nominate account(s) and confirm ‘Save Percentage’
- Complete the process by providing the required security details
*Customer can discontinue the service via Internet Banking (Funds in the spend2 save account will be transferred to personal account of choice)
*To delete your Spend 2 Save account or withdraw saved funds, simply click the ‘New Request’ option on your Spend 2 Save page.
- Cash payments and third party transfers cannot be made into the Spend2Save account.
- Customer can set a Save Percentage between 1-5%,
- All system generated debits on the nominated account(s) will be exempted from savings
- The prevailing savings Interest rate will be applied on balances.
- Customers who do not make withdrawals within a year will earn additional interest of 0.5% per annum at the end of the year.
- Customers can discontinue the service or liquidate partially/fully on the Spend 2 save account via Internet Banking.
What is Spend2Save Account?
An e-account that allows customers save a percentage of every withdrawal made on their account.
Who can access this service?
The service is available to all Individual customers.
Will the service work on all my GTBank accounts?
All individual accounts can be nominated except GTMax account and its variants.
When is the savings amount deducted?
The savings amount will be debited from the nominated account(s) and credited into the Spend2Save account at the end of day.
Can a customer nominate more than one account for this service?
Yes. Customers can nominate more than one account to be profiled on the Spend2Save account.
What other alternatives can a customer use in funding the Account?
Funding on the account is automated. Cash payments and third party transfers are not be allowed into the Spend2Save account.
Is there an interest attached to this Spend2Save account?
Yes, prevailing savings Interest rate will be applied on balances.
Are there incentives to keep savings in this account?
Customers who do not make withdrawals within a one (1) year period will earn an additional interest of 0.5% per annum at the end of the year.
Can I stop the use of this service?
Customer can discontinue the service or liquidate partially/fully on the spend2 save account via internet/Mobile banking and USSD options.