Upgrading your GTBank account can provide many benefits like increased transaction limits, access to more banking products and services, and a higher interest rate on your savings. In this article, we will explain critically how How to Upgrade Your GTBank Account Easily amd walk through both the online and offline processes step-by-step.
What is GTBank?
GTBank, officially known as Guaranty Trust Holding Company PLC (GTCO PLC), is a multinational financial services group that offers a range of services including retail and investment banking, pension management, asset management, and payments services.
Headquartered in Victoria Island, Lagos, Nigeria, GTBank has a long history dating back to its establishment in 1990 as a limited liability company (LLC) regulated by the Central Bank of Nigeria. Over the years, it has grown to become one of the most respected and service-focused banks in Nigeria, with a strong commitment to corporate social responsibility projects.
Benefits of Upgrading Your GTBank Account
Some key advantages of upgrading your GTBank account include:
Higher Transaction Limits
Higher tier accounts have increased withdrawal and transfer limits per day, giving you greater flexibility with your finances.
Access to More Banking Services
Premium accounts provide features like travel allowance, free wire transfers, travel insurance coverage and personalized banking services.
Higher Interest Rates on Savings
Saving accounts in higher tiers earn you higher interest rates on your balances, allowing your money to grow faster.
Priority Banking Privileges
Customers with premium accounts receive priority service, dedicated relationship managers, and invitations to exclusive events.
GTBank Account Types & Upgrade Requirements
GTBank offers different account types catering to various customer segments. Here are the main account types and their upgrade requirements:
Salary Account
Minimum opening balance: ₦5,000
Eligible for: Salaried individuals
Basic Savings Account
Minimum opening balance: ₦2,000
Eligible for: General customers
Splash Account
Minimum monthly lodgement: ₦25,000
Eligible for: Emerging affluent individuals
Dollar Denominated Savings Account
Minimum balance: $1,000
Eligible for: Customers holding foreign currency
FlexiAccount
Minimum monthly lodgement: ₦50,000
Eligible for: Affluent individuals
GTPlus Account
Minimum monthly lodgement: ₦100,000
Eligible for: High net worth individuals
How to upgrade your GTBank account Offline at a GTBank Branch
To upgrade your account offline, simply follow these steps:
Visit Your Nearest GTBank Branch
Go to the branch where your existing account is domiciled during working hours.
Meet Your Account Officer
Locate your assigned account officer or appropriate desk official for account upgrade requests.
Provide Proof of Funds & Documents
Present statements showing your account meets the upgrade requirements. Submit completed application forms and identification documents.
Pay Upgrade Processing Fee
A nominal upgrade processing fee applies, payable via debit from your account or at the branch.
Account Upgrade Validation
Account details will be verified before approving and processing your upgrade request.
An approval notification will be sent via email/SMS. You can start enjoying the benefits of your upgraded account immediately!
Upgrading Online Through GTBank Internet Banking
If you prefer a more convenient digital method, here are the online upgrade steps:
Log In To GTBank Internet Banking
Access the internet banking portal on GTBank’s official website or mobile app.
Select “Upgrade Account”
Select the “Upgrade Account” feature under the “Personal Information” menu.
Review Upgrade Options
Review the account types you are eligible for and their requirements on the page.
Select Desired Upgrade & Continue
Click “Continue” button below your preferred higher-tiered account selection.
Enter Upgrade Application Details
Fill the online form with necessary details like employment details, source of funds etc.
Select Upgrade Date & Pay Fee
Choose an effective date for upgrade and authorize payment of upgrade fee from your account.
An approval confirmation will display on-screen and via email/SMS within minutes.
Log in to your internet banking post-upgrade date to access features of new account tier.
Other Ways to Meet Upgrade Requirements
If you don’t currently meet the monthly lodgement or balance criteria, here are some alternative options:
- Arrange standing order transfers from other bank accounts to consistently fund your GTBank account.
- Open fixed deposits and use the interest payouts to supplement monthly lodgments.
- Consider pooling funds from other family members’ accounts to jointly qualify for a premium account.
- Speak to your relationship manager for custom salary/business account packages catered to your profile.
Common FAQs About GTBank Account Upgrades
What is the difference between Tier 1 and Tier 2 accounts?
Tier 1 accounts in GTBank require minimal documentation like a passport photo and cater to low earners with a balance limit around 200-300k. Tier 2 accounts need an ID card and passport photo, with a limit of about 500k
How long does the upgrade process take?
Most online upgrades are approved instantly while offline requests take 1-2 working days to process.
What documents do I need for verification?
Primary documents required include valid means of ID, tax ID, utility bills, employment/business records as proof of stated income sources.
Conclusion
Upgrading your GTBank account is a simple process that provides many benefits. Both online and offline upgrade options are convenient depending on your preference. Be sure to plan in advance to meet the requirements of your desired upgraded account tier to enjoy higher banking privileges. If you have any other questions, visit your nearest GTBank branch or contact their customer care for assistance.
