Commercial banks in Nigeria are taking seriously the Central Bank of Nigeria’s (CBN) instruction to construct Forex Teller Points in order to facilitate access to foreign exchange for personal travel allowance (PTA), business travel allowance (BTA), medical expenses, and payment of overseas school fees. In this article, we will show you 3 ways to receive PTA payment to GTCO
While the Direct Money Banks (DMBs) continue to implement the apex bank’s directive, Guaranty Trust Company, formerly Guaranty Trust Bank (GTB), has now taken a step ahead of the competition by creating three fastest methods for those who require forex for foreign needs such as paying school fees abroad (our guide can be found at: https://infomediang.com/requirements-forex-foreign-school-fees-nigeria).
Customers can now receive their foreign exchange payments in one of three ways, according to the bank:
Dollar Debit Card
Follow us as we examine the whole procedure if you’ve been looking for the most comfortable approach to get FX for your personal or company requirements.
Through the use of a Dollar Debit Card
Applying for a GTCO Dollar Debit Card is the simplest way to have your PTA payment sent straight into your account. The best part is that applying for a Dollar Debit card is straightforward.
How it works is:
Your MasterCard account will be connected to your foreign dollar debit card once it is activated.
You may use it to make purchases in pounds, euros, and other currencies although it is denominated in US Dollars. Read also: GTBank Quick Credit: all you need to know
Features and Advantages
- You’ll have access to MasterCard ATMs throughout the world 24 hours a day, 7 days a week.
- The card may pay for goods and services at over 30 million merchant locations globally.
- It is safe, as Chip and PIN technology has been implemented to prevent illegal transactions.
- It may be used as a POS (Point-of-Sale) device (POS)
How to get PTA Through dollar debit card
When you apply for PTA, the Forex Teller Point will ask you where you want your payment to be sent.
The money will be credited to your dollar card if you pick this option.
GTCO Dollar Debit Card Transaction Limits
Note: The daily ATM withdrawal limit for debit dollar cards is $1,000 USD.
A $3.50 fee is charged for POS or online. It has no limitations
PTA via Domiciliary Account
If you already have a GT Bank Domiciliary Account (USD), you simply need to do the following:
- Go to any GTCO branch in your area.
- Form for requesting a USD domiciliary account
- Then go to the FX teller station and apply for PTA.
- The money you paid in naira will be converted to USD and deposited to your dom account.
If you don’t currently have a domiciliary account, you can apply online by following these steps:
- Go to https://ibank.gtbank.com/ibank3/login.aspx? on your personal computer or mobile device to use GTCO’s online banking platform.
- Complete the online application.
- Apply for GTCO domiciliary account to receive PTA payment
- If you prefer to visit a GTBank branch near you, please see the list below:
- You must fill out a form for a domiciliary account in US dollars.
- In the places provided on the form, two referees must sign their names.
- A picture from your most recent passport
- A recent bill for utility services
- Your Driver’s license or International Passport may serve as proof of your identification.
That’s all there is to it; you can now apply for PTA and have it deposited into your GTCO domiciliary account.
The final option for receiving PTA payment is to go to any GTCO branch.
With the use of Forex Teller Points
You will need proper papers and the beneficiary’s account information to complete this process.
For example, if you’re paying for school fees in another country, you’ll need the institution’s account information.
The merchant account must be with you if it is for business. Checkout How To Open A Corporate Account With Gtbank
We expect that more financial institutions would join the line to help the Godwin Emefiele-led CBN accomplish its forex market goals with the three new techniques employed by BTCO for Nigerians who need currency for PTA and other purposes.
Also, to make it simpler for businesspeople and women, students, and others to have access to the foreign exchange market.