The foremost institutional Bank, GTBank is perhaps testing the waters in digital currencies, should the central bank of Nigeria (CBN) finally gives a nod to crptocurrency as a legal tender, the bank will no doubt be at the very top in digital currency not only in Nigeria, but in Africa.
Although nowhere did GTBank mention the word “crytocurrency” with regards to GTCoins, but the addition of “coins” to the concept is suggestive of the product being a brainchild of the block chain technology?
What is GTCoins?
GTCoins are points that you earn as a GTBank customer when you carry out financial transactions using the bank’s e-channels, such as 737, our Mobile banking applications and Internet Banking. You also earn GTCoins when you open a new account, reactivate a dormant account or set up a standing instruction for your Child’s SKS account.
The bank noted that GTCoins cannot be converted to cash or transferred to a third party, it can only be used to redeem deals offered by the bank.
How to Earn GTcoins rewards
Earn GTCoins when you make use of our e-channels for your financial transactions or carry out select banking actions.
- Use 737, Internet Banking or our Mobile App
Get rewarded when you buy airtime, transfer funds and pay bills with any of these platforms.
2. Fund your new or dormant GTBank account
Either online or via our e-channels, or in any of our branches near you – you still enjoy rewards.
3. Use your GTBank Naira MasterCard
You earn 5 GTCoins everytime you make payments in stores nationwide or online.
4. Set up a Standing Instruction
For your Child’s Smart Kids’ Savings (SKS) account.
use Internet Banking Dashboard to redeem your GTCoins
To redeem your earned GTCoins, login to Internet Banking, select “Redeem GTCoins” to view your cumulative GTCoins.
Check 737 Transaction Messages
Look out for your earned GTCoins everytime you successfully complete any transaction using the GTBank 737 USSD service.
Get incredible deals with your GTCoins
You can redeem fantastic prizes and amazing giveaways with your accumulated GTCoins.
- So much for your GTCoins
Every month, you will be informed of awesome deals for your GTCoins. You can also use your GTCoins to purchase airtime, cinema tickets, amazing flash deals etc.
- Use your GTCoins before it runs out
GTCoins are accumulated from the first to the last day of every month and must be used within the month. Your GTCoins can not be rolled over to the next month.
You earn GTCoins when you:
- Buy airtime via 737, Internet Banking or Mobile Banking (5 GTCoins).
- Transfer funds to another bank via 737, Internet Banking or Mobile Banking (5 GTCoins).
- Bill payment on 737, Internet Banking and Mobile Banking (5 GTCoins).
- Naira MasterCard on any POS terminal in Nigeria or website (5 GTCoins).
- Standing Instruction on SKS account (10 GTCoins).
- Fund a newly opened or dormant account (10 GTCoins).
You also lose GTCoins when you withdraw cash using other Banks’ ATMs.
How to check GTcoins balance
You can find out your GTCoins balance on internet banking or by dialing *737*6*1# from the mobile number registered to your GTBank account. You will also be notified of every GTCoin you earn via your transaction alerts.
Your GTCoins balance is reset at the end of every month, which means that you cannot roll over your unused GTCoins into a new month.
What you can do with GTCoins
You can use your GTCoins to redeem our deals and special offers. You will be informed of such deals and offers via SMS, email and transaction alerts. These deals would only be valid while stock lasts.
Every month, the bank will send you the special offers and deals for the month via SMS. You can also look out for more amazing deals and offers on Internet Banking and in your notification alerts.
You will need the right amount of GTCoins to participate in any of our deals and special offers.
Conclusively, while GTCoins cannot be converted to cash, you can use it to get incredible deals from GTBank. All you need to earn GTCoins is use the banks e-channels for transaction.