If you are an undergraduate, between the ages of 16-25, then you can now bank for free with Guaranty Trust Bank (GTBank).
The financial institution has announced that it will cover all charges on transfers, USSD transactions and bank alerts for holders of its GTCrea8 Account, a bespoke banking product for young undergraduates between the ages of 16-25.
READ: The many faces of bank charges
According to a statement by the company, GTCRea8 has been a core part of the GTBank’s value proposition to deliver value adding banking services to young people whilst empowering them to pursue excellence in their academics and respective interests.
“Over the years, tens of thousands of university undergraduates have benefited from GTCrea8 concerts, masterclasses, digital training, Education Support Grants, and several other initiatives championed by the bank to ensure students have a more rewarding campus experience. Now, millions of students across the country will be able to bank for free following the Bank’s commitment to cover the cost of all banking charges for GTCrea8 account holders,” the statement reads.
Some of the bank charges that GTCrea8 account holders will no longer have to pay include charges on bank transfers, even when the transfer is to other banks. Undergraduates will also not be charged for using 737, the bank’s industry-leading USSD service, nor will students be charged for transaction alerts received whether via SMS or email. GTCrea8 account holders will also enjoy special offers and discounts when they make use of GTBank’s trendsetting digital platforms, such as Habari, which offers access to music and video streaming, shopping, messaging, and bills payment all in one place.
Commenting on the Bank’s removal of bank charges for young undergraduates, the Chief Executive Officer of Guaranty Trust Bank, Segun Agbaje said, “Empowering young people in every way we can is the most valuable investment that we can make for the future. That is why we have taken this bold step to cover the cost of all their banking charges, not just to allow them to bank for free, but also to inspire them to imagine a world free of all limits to their ambitions, and in which they can achieve their greatest dreams.”
He further stated that “At GTBank, we will continue to find innovative ways and create new initiatives to give young people all the motivation, support and platform that they need to thrive. This is the reason we have made banking free for young undergraduates, and it is also the reason we are organizing the GTBank Fashion Weekend, the biggest fashion event in Africa, on November 9-10, 2019 to champion the talent, creativity and endeavours of our young entrepreneurs.”
