Beware! Of Some GT Bank's Internet Banking Platforms10:56 PM
True GT bank is one of the leading banks in Africa, the same truth holds for their robust online presence which is one of the best in the continent. Banking with Guaranty Trust Bank both online and offline is enjoyable as you're faced with quick and timely response to your queries about some bank issues you might not be clear on. This coupled with their always cheerful staffs that mans their various branches are one the main reasons people like GT Bank.
There is no denying the fact that the bank is one of the major full featured all round banks Africa can boast of. Yes their are many positives from this bank, there are also some negatives. Amongst them is what I term GT bank alert negative, there is a seemingly small weekness in their alert system, it's so small that you won't even notice it, the bank may not even beware of this. A big hole in their online banking platform, brought out by the alert system. This is a big hole considering that funds are being lost.
gtbank internet banking in nigeria
So what's this weakness? If you've being paying attention to your account statement you'll notice this, if you haven't then it's not your fault as this is not quiet obivious. If an alert is set (SMS), any time you do an online transaction either you withdraw, transfer, pay or shop via Konga, Jumia or Amazon, you'll receive an alert summarizing how much spent and how much you've left. This alert can some times become so frequent that you may treat it as an MTN kind of message, there are others who won't bother reading them, or just simply glancing at them and quickly discarding them. If you're one of those, then I suggest you stop it and pay close attention to your account's details. Bring out your bank statements the ones containing how much was taken from the bank as alert cost, from January to December and study them, note how much the bank takes each month calculate those together and add them up with the interest your money should be making. A large sum yes? So where is those money going to?
I found this flaw out during my investigations, on my account and 5 others. How this works is simply, you do any GT bank online trasanction through their platform, an alert will be sent to you, at the end of the month some fees will be deducted from your account. Those fees are usually 1-20 Nigerian Naira depending on your accounts activity you maybe getting many alerts pay a day, and several alerts pay a month, so you may be losing 20k per year. The truth many is high-worth accounts do lose up to 100k per year yet they won't notice. Why? Have you ever asked youself why you don't get money interest in either your savings or current account? This is where those cash are being taken from. To avoid notice they use the flaw in GT bank's alert system. Who takes the funds? The bank? You? The truth is known of them to the best of my knowledge are guilty although I can't 100% vouch for the bank but they are not responsible nevertheless. If it's you the custormer, not the bank then there is a third party involved.
So here is my theory, note this is only a theory and may not be true. Although there is no sensible explanation for this, you might as well take it as it is. Yes there is a third party who is responsible for the missing money(s), a smart person who managed to get access to the bank, and somehow manipulated the banks computers. How he/she did that is a mystery but I suspect the bank may know about it, if not the bank then a key employer.
It's a good thing that our main balance are not touched, as only the interest and the alert money are taken. But what worries me is this weakness of which I'm not comfortable, there is no denying the fact that this seemingly small hole may one day expand, to the extent we may wake up one day and find our bank account at N 0.000!, this is possible and real, we should beware.
Guaranty Trust Bank is still one of the best bank around, to be on the safe side you've to do all suggested security procedures. And keep your private information private, contact them if you don't understand something.