The benefits of the PoS terminal to Merchants include the following:
- Improved efficiency minimises cash handling and aids reconciliation
- Increase in sales as Merchant have access to both cash and card-carrying Customers
- Instant confirmation of payment for goods
- Reduces cost of Personnel and equipment for handling cash receipts
- Reduces exposure to loss due to armed robbery or pilferage by Employees
- Eliminates the inconvenience of cheque confirmation and clearing period.
Please click here to find a POS close to you.
POS CashoutWithdraw Cash at any Merchant Store using your debit card or by dialing *737*99*Amount*Phone-Number# (e.g. *737*99*1000*08020000000#) from the phone number registered with the Bank.
Guidelines to Using POS Cash-Out Service as a Merchant
- Request for a POS terminal with “Cashback” function and collect marketing materials from the bank to place in your store(s)
- When a customer presents his/her card to withdraw on your POS terminal(s), kindly insert the customer’s debit card and select Cashback on the POS terminal
- Input amount to withdraw
- Cardholder is debited Amount + N100
- Your account with the bank will be credited with amount + N50
- An Email / SMS notification will be sent to your contact details registered with the Bank
Guidelines to Using POS Cash-Out Service as a Customer
- Visit any merchant’s store with the Cashback POS terminal
- Presents your debit card to withdraw cash from the merchant’s store
- After the transaction has been initiated, customer is then debited the Amount + N100
- An Email / SMS notification will be sent to your contact details registered with the bank
Q1: How do I setup the POS Cashout as a non GTBank Customer
A: Kindly open a GTBank account and you will be automatically profiled for the service with your phone number registered with the Bank.
Q2: How do I setup the POS Cashout as a GTBank Customer
A: Kindly contact your Account Officer to fill and submit the POS Registration Form.
Q3: What is the cost of setting up this service?
A: There is no set up fee. The POS terminal is deployed free of charge
Q4: How can I confirm the transaction was successful?
A: A physical POS receipt would be printed from the POS terminal for both parties
Q5: How do I resolve a dispense error for this transaction?
A: Kindly contact your bank to raise a dispense error claim. This can also be done on the different e-channels (Internet banking, ATM, etc.) for GTBank account holders only.
Q6: How do I monitor these withdrawal transactions, separate from my regular transactions with the bank?
A: The report to monitor the withdrawal transactions is available on your Guaranty Trust Bank Automated System (GAPS) or kindly contact your Account Officer to send the transaction report to you.
Q7: What do I stand to gain for this withdrawal services?
A: You earn N50 per every transaction