GT Bank finally addresses transaction delays… Here’s what to know

Guaranty Trust Bank (GT Bank) has issued an official apology to its customers following widespread complaints about delays and irregularities in transaction processing caused by a recent system upgrade.

In a public statement released on Wednesday, the bank expressed gratitude for customers’ patience and understanding during what it described as a challenging transitional period. GT Bank acknowledged that the disruptions had significantly impacted customers’ personal and business activities but assured the public that the technical hurdles have been addressed.

The statement read,

“Dear Valued Customer,

Thank you.

Your trust is the foundation on which we stand, and your patience and support during this recent transition to a new core Banking System, has been nothing short of extraordinary.

When we began the process of implementing the new Finacle Suite of Core Banking Application Systems, our goals were clear: to remain agile as we grow, adaptable, and most importantly, to improve your service experience. Yet, we must humbly acknowledge the challenges along the way. The process, though necessary, brought with it delays in transaction processing and interruptions to what should be seamless service and we sincerely apologize for this.

We recognize how deeply this period of service disruptions affected your personal activities and business operations and we thank you for standing with us through it all, offering grace in times of frustration. Thank you for believing in us and allowing us the privilege of continuing to serve you. We are grateful beyond measure.

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As we move on to our custom of seamless service experiences, we would like to assure you of our commitment to the goals we set at the start of implementing this change and that every effort we make hereon will be driven by a single purpose; to uphold the highest standards of service experience you expect and ensure that our relationship with you thrives far into the future.”

Customers’ frustration

Recall that many customers noticed a glitch in the system and took to social media platforms like X (formerly Twitter) to express their frustration over unresolved issues, including delayed transactions, random debits, and poor customer service.

@abumunara shared concerns over an unexplained N1 million debit, stating, “GT Bank, ona go return that money oooo. Or we meet in court.

@yumilious claimed the bank debited funds for transactions that were never completed and described the customer service as lacking empathy.

@OlamideOyemaja called out the bank over random debits, writing, “How are you guys just debiting people randomly?”

Some customers went further, alleging systemic issues within the bank that resemble fraud. In a detailed thread, @maxvayshia described a series of incidents involving negative balances, unauthorised deductions, and untraceable transactions.

“Your account could read ZERO balance, and from nowhere, you see a MINUS N400k balance… Any money that hits your account gets deducted because of the ‘debt,’” the user wrote, urging others to move their funds from GT Bank.

Matters Arising

While the bank insists it has resolved the technical issues, the lingering dissatisfaction suggests a need for more robust customer support and transparent communication.

Actress Lala Akindoju expressing her frustration asked on X, “Can you guys log into your gtbank app? Is it just me? This bank sha”

@Adeyemo Oluwaseyi criticised the bank’s services, saying, “Fast track not working, ATM not dispensing… I need my money.”

@samkay12 wrote, “@gtbank is a horrible bank. How many months and still having issues? What a joke. How hard is it to get simple things done. These traditional Nigerian banks keep getting away with abysmal services with no consequence. In saner countries their stock price would be in the toilet

As complaints continue to mount, GT Bank faces the challenge of regaining the trust of its customers and restoring its reputation as a leading financial institution.