Guaranty Trust Bank (GTB) Suspends Foreign Currency Cash Deposit Temporarily

Guaranty Trust Bank (GTB) domiciliary account users, please be informed that the bank has suspended foreign currency cash deposit temporarily. I got this message in my email and thought it wise to share with you.

guaranty trust bank foreign currency
If you have a registered and functional email attached to your GTB account, you should check your email. I am sure you must have received same email. For those who do not have a functional email (by functional, i mean, still accessible) account, the message reads thus:

Temporary Suspension of Foreign Currency Cash Deposits

Please be informed that due to the unavailability of outlets for managing foreign currency cash deposits, we have found it necessary to temporarily suspend receipts of foreign currency cash deposits into domiciliary accounts at all our branches nationwide from Monday, 3rd of August 2015.

In addition, foreign currency cash deposits into domiciliary accounts made prior to this notice will not be eligible for outward electronic transfer and can only be withdrawn as cash.

Please note that this temporary measure, does not affect electronic transfer of funds into or from your domiciliary accounts and, you will continue to have access to foreign currency cash withdrawals from your account.

Whilst we have had to take this step to temporarily suspend foreign currency cash deposits, we would like to assure you that we are working hard at finding alternative outlets and a quick solution to this situation.

Kindly accept our sincere apologies for any inconvenience this might cause.
Thank you for banking with us.

The message stated above in the email is quite explanatory but for those who may still require further explanation, it simply means that effective from on Monday the 3rd of August 2015, you cannot make foreign currency deposits into your domiciliary (foreign) account with GTB. However, you can still withdraw foreign currency from your domiciliary account and make transfer from the account. You can also receive funds to your domiciliary account via wire transfer. The only set back is not been able to deposit foreign currency into the account by cash.

We do hope this issue is resolved the soonest day possible. Happy banking!

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Samuel Adeniyi

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