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GTBank *737* Service for Money Transfers and Airtime Top-up – A Wonderful and Innovative Idea

Guaranty Trust Bank (GTBank) is certainly up there somewhere near the top when talking about financial institutions not only in Nigeria, but in the entire continent of Africa. The GTBank *737* service underlines why this bank has remained relevant all this while and looks set to remain that way in the near future as well.

GTBank Logo

I will only be stating the obvious by saying that GTBank is a very popular bank in Nigeria. There is hardly any branch of the bank you will go to on an average day and not meet sometimes long queue. I could remember one of such days few years back when a man, unable to complete a transaction as quickly as he wanted, inferred that the bank was unserious with its operations for not opening more branches. He even described it as a ‘student bank,’ seemingly not meant for business people. The man could not have been more wrong. In my present area, GTBank is one of only two banks with two branches within walking distance, yet those two branches of the bank are almost always filled with customers. Let’s face it, GTBank is simply good! At least, that holds true for now.

GTBank *737* Money Transfer and Airtime Top-up

GTBank *737* service can be used to save money (by Etisalat customers), buy airtime and transfer money – this piece is about the latter two. The GTBank *737* Transfer option enables customers to transfer money to other accounts in the bank as well as to accounts in other banks in the country. Transferring money using the GTBank *737* service is easy. For transfers to other accounts in the same bank, use the following code:


For transfers to accounts in other Nigerian banks, use:


The NUBAN is the new 10-digit account number. You should note that the money transfer request should be initiated from the phone number that is associated to or used for your GTBank account. A request for N5000 transfer to a hypothetical GTBank account with the number 1234567890 will look like:


Just type that code on the phone with the relevant line and press “Send/OK.” You will be requested to provide the last four digits of your ATM card to complete the transfer. So simple, right? Note that the minimum amount you can transfer is N1,000, while the maximum daily transfer is pegged at N20,000.


The process is similar when using the GTBank *737* service for airtime top-up. To load airtime on the phone number linked to your GTBank account, just type and send:


If you want to recharge other phone numbers, including those of loved ones, use the USSD code:

*737*Amount*Phone number#

Remember: The GTBank *737* service for money transfer and airtime top-up requires you to use the phone number linked to your bank account.

Experience with GTBank *737* Money Transfer

The money transfer option of the GTBank *737* service is the one I feel is more important to me. So I decided to do a test transfer of N1,000 last week. But before proceeding, I had to search for information on associated fees, but I could not find any such information. I’m very cautious about falling victim to hidden charges. I decided to go ahead all the same. The process went smoothly as described and the transfer was successful.

However, I noticed my account balance reduced by a further N21. A mail sent to my inbox stated that I had been charged N20 (not N21) as commission for the transfer. I’m not sure if that was a flat fee or a percentage-based fee. If it was percentage-based, the commission worked out to 2% of the transferred amount. I have no problem with the fee because the GTBank *737* service at least helped me avoided the long queue and the stress of walking or taking a motorcycle ride to the nearest branch. You should try it also.


UPDATE: Several days ago, I performed a N1000 transfer to an account in another bank and was charged a combined N110+ in two separate fees. Below is an excerpt of the message I got when I asked what the fees were for:

Please be informed that *737* transfers are done using the NIPs platform.

As requested, the NEFT/NIP Transfer Charges are outlined below:

Amounts below N500,000.00 attract a charge of N110.25 (Inclusive of VAT)

Amounts between N500,000.00 and N1,000,000.00 attract a charge of N210 (Inclusive of VAT)

Amounts above N1,000,000.00 and up to N10,000,000.00 attract a charge of N525 (Inclusive of VAT)

Transfers above N10,000.000.00 attract a charge of N1,050.00 (Inclusive of VAT)


I thought it is relevant that I add the excerpt above, just in case you are acting off this post. © 2015 Frontier Theme