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GT Bank Suspends Foreign Currency Cash Deposits

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The Guaranty Trust Bank (GT Bank) has announced the temporary suspension of foreign currency cash deposits in all its branches. By this directive, customers cannot deposit foreign currencies into their domiciliary accounts from Monday August 3rd 2015.

in a statement issued by the bank, it said this move was necessary as it no longer has outlets for managing foreign currency cash deposits.

Below is the full statement from the bank:

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domiciliary accounts made prior to this notice will not be eligible for outward electronic transfer and can only be withdrawn as cash.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.

 

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