The GTbank prepaid dollar card has been available for a while now but some people are yet to understand or acquire the dollar card. In this article, we will be looking at the GTbank dollar card and its pros and cons. By the end of this article, you will be able to make a good decision for yourself pertaining to the dollar card.
Before we go any further, the GTbank dollar card is of two variants, which are the Mastercard and visa dollar card. In this article, we will also differentiate between the two-dollar cards and the credit dollar cards too.
What is gtbank prepaid dollar card
The Guarantee Trust Bank (GTB) dollar card is a card used for receiving and making all kinds of payments. The GTbank dollar card is denominated in dollars, but can also be used to make payments in other currencies.
The dollar card supports Paypal, Facebook and other payment platforms.
Gtbank also has a credit dollar card.
What are the uses of gtbank prepaid dollar card
The Gtbank dollar card can be used for the following.
- Cash withdrawal.
- Online payment of goods and services.
The GTbank dollar card can be used to withdraw dollars on dollar-enabled ATMs and also POS machines. All you need to do is to insert your card and put your pin and the amount you want to withdraw.
Online payment of goods and services
The GTbank dollar card is widely accepted to make international payments and make payments locally. The dollar card supports payment platforms like Paypal, and it also supports Facebook for Facebook ads payment.
What you need to do to be eligible for the dollar card
For you to be eligible to apply for the GTbank dollar card you must provide the following:
- A recent passport photograph.
- Two referees with (current account). Referees can be from any recognized financial bank of your choice.
- A recent utility bill, which is not more than 3 months old (electricity bill, water bill, or bank statement).
- A valid means of ID (Voter card, Drivers license, National ID card).
How to apply or get gtbank dollar card
There are three ways to apply for the GTbank dollar card they include:
- Using mobile banking
- Internet banking
- Apply in person
Using mobile banking
The use of mobile banking involves using the GT-WORLD application on the play store, IOS store, or your smartphone app store.
- Head over to your app store on your smartphone. Make sure it is the official store of your smartphone and not some kind of 3rd party store.
- Download the GT-WORLD application and log in with your user ID and password. If you don’t have a user ID or password, then you need to create one.
- Move over to your menu, and check for the “Cards” option.
- Select the “dollar card request option”.
- Fill out the form and click on the continue button
- Put in your “4 digit PIN” or token code, that is if you have one.
- Select “Done” to complete the request.
Note: You will receive a notification to the email or phone number you used to apply in the form.
You can use the internet banking platform to apply for the dollar card, but you will still need to go to GTbank to complete registration.
If you are using internet banking for the first time you will need to register. You can register here.
After you must have registered successfully follow the instructions below.
- Log in to the GTbank internet banking website using your User ID and password.
- Select the “cards” button on the menu bar.
- Select” dollar card request”.
- Complete the form details ( “account to debit”, “account to charge”, “pick up branch”).
- Select the “continue” button.
- Select “submit” to submit your request.
Note: you will receive a notification, which will be sent to your mobile phone or email address you used in registering.
Applying in person
This involves going to any GTbank close to you to request the dollar card. How does this work?
- Go to any GTbank close to you.
- Tell any of the customer services that you need a GTbank dollar card or domiciliary account.
- You would be given 2 forms, one will be about your details, and the other for your referee. Your referee must have a current active account. The form looks like what you see below.
4. Fill and Submit the form to the card section, or give it back to the customer care unit.
5. You will need to pay a sum of $13. 10 dollars is for card maintenance and 3 dollars is for card issuance.
If you are using another bank, you will need to deposit the $13.
6. Wait to get your card.
How to activate the gtbank dollar card
After you must have purchased the GTdollar card, you will need to activate it before use.
After collecting the card from any GTbank close to you, you would be given the card pin. You can find this on the body of the manual inside the envelope of the card.
You will also need to dial this number (+2348039003900 or +2348029002900) to speak with the GTbank agent to activate the card. Or You can as well send an email to them at GTconnect@gtbank.com.
If you are viewing this article outside Nigeria, you will need to contact your GTbank with the number assigned for GTbank in your country.
Once your information have being verified, the agent will activate your card for use.
Gtbank dollar card charges
If you are planning to get the GTbank dollar card, you will be required to pay a sum of $13 for card issuance and maintenance.
For gtbank dollar debit card
You will be charged a sum of $3.50 on every ATM withdrawal.
For gtbank dollar credit card
You will be charged $10 for every ATM withdrawal.
Gtbank dollar card maintenance fee
Like I said above GTbank collects a minimum of $10 every year. This money is for the maintenance fee.
How much is gtbank dollar card
As of the time I publish this article, GTbank charges the sum of $3 for card issuance and $10 for maintenance. This money must be paid immediately for them to carry out the process of getting the dollar card for you.
How long does it take before the dollar card renewal day
According to the Guaranty Trust Bank (GTB), the dollar card only lasts for 3 years, after that you will need to renew your card. This will attract a sum of $3.
How to fund gtbank dollar card
There are 3 ways to fund the gt dollar card.
- By Going to any GTbank close to you. Fill the teller and submit the fund you want to transfer to your domiciliary account. Funds must be in dollars.
- Call GTconnect on any of these numbers: 070048266632, 08039003900, 014480000, 08029002900. Once again if you are viewing this article outside Nigeria, you will need to contact your GTbank with the number assigned for GTbank in your country.
- By using the GTbank internet banking platform.
How long will it take to get my fund
As for the GTbank dollar card, funds are not credited instantly or immediately after a sender sends money to your dollar account. The table below shows the duration of the waiting time.
Time of transfer availability
|Time of transfer||Availability|
|After 12 noon (Friday) 6.00 pm||Next working day|
|Weekends 6.00 pm||Next working day|
|Before 12 noon (Monday-Friday) 6.00pm||Same day|
|After 12 noon (Monday-Friday) 6.00pm||Next day|
Gtbank dollar card limit
For POS transactions, $5000. For web payment and online transactions, $5000, for ATM withdrawals there’s a limit of $1000 equivalent to your local currency. Also, annual spending is limited to $20000 which means you can’t spend more than $20000 every year.
Difference between the GTbank Mastercard and visa dollar card
GTbank is partnering with two different companies for the dollar card. The two companies are known as visa and Mastercard.
The payment and charges are the same things, you can choose any of the cards, they work effectively and none supersede each other according to GTbank dollar card specifications.
GTbank has made it known that the dollar card includes debit and credit. You are to choose which of them you want, the credit card is a little bit different from the debit card in terms of transaction fees.
The credit card is charged a fee of $10 for every ATM withdrawal while the debit card is charged a fee of $3.50 on any ATM withdrawal.
Cons of the gtbank dollar card
No dollar, no fund issue: As we all know, the dollar card is meant for dollar funds, but the dollar card could also do online transactions of different currencies.
The issue here is that you can’t deposit your local currency into your GTbank dollar account. I wanted to pay Nairas equivalent to the number of dollars I need, but they rejected it.
This might sound weird, but they should be able to convert the local currency into a dollar and make the deposit. But no, they rather let you go in find of the dollars.
Issues with getting referees: GTbank requires two referees using a current account in any bank of the applicant’s choice. But as we all know, most of us make use of the savings account, so the possibility of getting two current account users sometimes would be zero.
This on their side could be for security reasons, but I had to ditch them for the UBA Africard because of this issue.
Pros of the gtbank dollar card
Widely accepted: The GTbank dollar card supports over 33 million merchant locations worldwide.
Security: The GTbank dollar card comes with a chip and pin technology that is used to safeguard the account from unauthorized access.
Accessibility: The dollar card comes with 24-hours access to funds from over 2.0 million ATMs worldwide.
Validity: The GTbank dollar card has a validity of 3 years.
The GTbank dollar card was mainly created for those who want a dollar account. The GTbank dollar card is also known as a domiciliary account.
in other to get a GTbank dollar card you need to open a domiciliary account. The dollar card can handle a lot of international transaction, on-like the GTbank Naira Mastercard which have been limited to a number of international transactions, including (Facebook payment and Paypal financing). It has also been brought down to nothing.
The dollar card seems to be the best for platforms like Facebook, Paypal, and all financial platforms.
To get the GTbank dollar card in Nigeria you would need to deposit a sum of $13 to the bank, GTbank charges $10 as a maintenance fee and $3 to issue the dollar card to you.
To make the dollar card a success, GTbank had to partner with visa and Mastercard. No matter the card you decide to go for you will still pay the sum of $13. Also, there is a credit dollar card option but a fee of $10 is charged for every ATM withdrawal.
Are you using a GTbank dollar card, what’s your experience so far?