If you own a GTBank dollar account, I have good news for you, No need to go to the bank to withdraw your dollar and head to the nearest Aboki. No need for that now. Do you know you can now exchange or convert the money in your dollar account to Naira with just a few clicks?
Let me show you; I got an email from GTBank telling me that I can now exchange my dollar into Naira through GTBank internet banking, I was so happy for such news, but since I own a dollar account with them, I decided to test and see. I had about $157 in my dollar account, which I decided to convert to Naira, but before then, I needed to confirm the current exchange rate from Aboki to be sure that the bank would not cheat me.
The news sounded interesting, but I wasn't surprised because I used to exchange my dollar through the GTBank marketing department. Still, my problem with them is their exchange rate which used to be far lesser than the Aboki black market rate, but this time, guess what?
GTBank buys the dollar high than the Aboki rate, popularly known as the Black market, and yes, you don't need to visit the bank or call customer care. You can do It on your own without anyone's help and just from anywhere; you could be in the office, at home, or on vacation. If this stands, it will be the end of the dollar black market in Nigeria because the main reason for selling dollars to Aboki has been defeated.
What is the GTbank conversion rate (dollar to Naira)
As I said earlier, I have experimented with the new GTBank dollar-to-naira exchange by converting the dollar I have in my domiciliary account into my Naira account. The rate was excellent and higher than the back market.
GTBank paid me 771 per $1
, but before I proceeded to covert my dollar, I had to make calls to two of my Aboki friends that I used to sell the dollar to, one from Asaba Delta state and one from Enugu state. Below are the rates they gave me:
- Dollar Black market Aboki from Enugu exchange rate: N760 - $1
- Dollar black market Aboki from Asaba Delta state rate: N745 - $1
- Dollar exchange rate by GTBank N771 - $1
Looking at the list above, you will know that no reasonable person will go to the black market to sell their dollar unless they exchange at the rate of maybe N850. However, I don't see the rate for other black markets in Lagos, Abuja, and other states what I know is that converting my dollar to Naira using GTBank internet backing was the easiest and straightforward process.
How to exchange Dollars to Naira through GTBank internet banking
Now, let me guide you on how to quickly convert your dollar to Naira at the best rate using GTBank internet banking; firstly, you must own and operate a dollar account with GTBank. If you don't have a dollar account, you can visit their nearest office to open an account if only you work and earn money in dollars.
Reading to convert your dollar? Follow the steps below to navigate GTBank internet banking and conveniently convert your dollar.
* Visit www.gtbank.com.persanal-banking/
* Login with your internet banking login details (the one you use to login to your GTworld mobile app)
* Once you log in, click on Proceed, and you will be taken to the main page of GTBank Internet banking.
Now look at the menu; you will see three small horizontal lines aligned vertically near the "SHOW NAVIGATION" You can see the image below.
When you click on the three horizontal lines, you will be taken to another menu where you will see "FX Transactions" Click on it and select "FX Sales."
Clicking on the FX Transaction
will show you a drop-down menu where you will see Fx sales
which is the first option. When you click on it, you will see another drop-down menu where you must select an account to be debited, which should be your dollar account and an account to be credited. But in this step, you only need to select the account to be debited, and the system will choose your GTBank Naira account to be credited automatically.
After that, input the amount and wait a few seconds for the system to automatically show you the current exchange rate and the total amount to be received in your Naira account. If you like their exchange rate, answer your secret question and continue to complete the transaction. Alternatively, you can see the exchange rate on your mobile app by logging into your mobile app and sliding the menu to the left to see another hidden menu.
Click on the bank rate and then FX sales, as you can see in the image below, and you will see the current exchange rate.
What is GTBank's secret question answer?
The secret question was the only problem I encountered while trying to convert my money because I had forgotten it. In case you don't know, a secret question is a question and answer you set during the registration of GTBank internet banking, but if you have forgotten it, then no problem, you can reset it.
To reset your GTBank secret question, you need to use the Mobile app GTworld, There might be other ways to do this, but this method worked for me, so there is no need to look for other methods.
To do the resetting, open your GTBank mobile app and log in, click on the 3 menu lines at the top left-hand side and then click on the settings. You will now see something like forgot the secret question, reset secret questions. Go with the option "reset secret question and then write the question you want and give an answer. However, you will have to wait 3 hours before you can use the new secret question to exchange your dollar. The image below will help you know how to reset the secret question.
Finally, converting your dollar to Naira at a reasonable rate directly from your GTBank account has never been easier than that, and I hope it stays like that. I can't imagine the stress of going to the bank, waiting for my turn, and after you move to the nearest black market, but now it only takes a few clicks on your phone or computer to complete the transaction quickly. However, if you still have more questions to ask or contribute, feel free to use the comment box below.Related posts
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