How to Setup a Spend 2 Save 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.
Features & Benefits
- 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.
FAQs
- 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.
- How is this service accessed?
This service can be accessed via Internet Banking, USSD Platform and Mobile Banking channels
- 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.
