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- A Domiciliary Account in the currency you wish to transfer.
- A transfer Instruction (Properly Filled).
- Duly funded accounts for principal and bank charges.
Transfers are treated within 24hours of receipt of the instruction provided all requirements are met.
USD transfer instructions received after 4.00pm will be treated the next working day, while GBP and EURO transfer instructions received after 2.00pm will be treated the next working day.
Depending on the location of the beneficiary, it takes between 48 to 72 hours after the transfer has been effected.
A number of factors could delay credit to the beneficiary. These include but are not limited to: local bank holidays, delays by intermediary bank or other local conditions.
The charge is 1% of the amount being transferred, or 10 units of the currency being transferred where the amount is less than ,000. Other charges are: 5% VAT on the commission and a telex charge of N3, 000.
Yes. You can indicate that the charges should be taken in other currencies.
Where the source of funds is cash, transfers are limited to a daily maximum transferable limit of ,000 (or its equivalent in third currencies), and a weekly maximum transferable limit of ,000 (or its equivalent in third currencies).
Other sources include inflows and cleared foreign instruments and the maximum transferable amount is limited to the value of the inflow or cleared instrument.
You can transfer as many times as you wish provided the total value does not exceed the daily and weekly maximum transferable limits.
It depends on the source of the funds. If the transferring customer made cash lodgment into his account, then transfers above ,000 cannot be made. However, where the source of funds is a foreign currency inflow or cleared cheque proceeds, transfers can be made up to the value of the inflow or cleared cheque.
You can only deposit a maximum of ,000 or its equivalent in other currencies at once in to your accounts if you wish to transfer the funds via GTBank Domiciliary Account Funds Transfer.
CBN regulation says that cash in excess of ,000 lodged into an account can be withdrawn by cash only.
This information is available on our website and also at all our branches on request.
A written request to trace the funds should be forwarded to the bank.
Tracers are dependent on the beneficiary bank and/or its intermediaries.
Yes. Funds can be recalled via written requests, but are subject to local rules in the country of the beneficiary.
Recall requests are dependent on the beneficiary bank and/or its intermediaries. Funds can only be credited back to your account when it has been returned by the beneficiary's bank.
Yes, N3,000 swift recovery charge.
Yes. The charges are not refundable.
Yes. A written amendment request with the new details is required.
The time taken to effect an amendment request is dependent on the beneficiary bank and/or its intermediaries.
Yes, N3,000 swift recovery charge.
A standard correspondent bank charge of or 12 Pounds or about 15 Euro is deducted per transfer. However, this amount may be higher and not easily determined where: - The transfer instruction has more than one intermediary bank
- The beneficiary is in very distant locations e.g. Asia.
- The beneficiary bank deducts a service charge on inflows received by their customers
Offshore bank charges are deducted from the principal at the point of transfer of the funds.
This is because the transfer will be treated as a fresh transfer.
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