GTBank faces new customers’ outcry over missing account statements

Omoleye Omoruyi
GTBank faces new customers' outcry over missing account statements

Guaranty Trust Bank (GTBank) is facing a barrage of criticism from customers frustrated by poor service delivery, technical glitches, and unresolved issues. From difficulties in accessing account statements to missing transactions and unresolved disputes, customers are voicing their dissatisfaction on X, painting a picture of declining trust.

One of the issues, accessing account statements, a routine banking service, has become a daunting challenge for GTBank customers. Several users have taken to social media to share their ordeals.

User @bigbrovar highlighted the severity of the issue, recounting how GTBank seemingly lost his financial records spanning 2021 to 2024. “I need them for account verification with my stockbroker to withdraw funds. Spent the entire day at GTBank, and no one knows how to retrieve my account statements,” he lamented.

The inability of the bank to resolve this issue has left him stranded and raised questions about its data management practices.

Another user, @sodiq1313, expressed similar frustration, stating, "They were only able to provide from July 2024. It’s very sad. This is a bank whose name I used to swear with. I hope they recover, but I’ve moved on though." The sentiment of "moving on" is echoed by many customers who are beginning to seek alternatives due to persistent service failures.

User @obiokeke described their ordeal when attempting to audit their financial records.

Last week, I was going to audit myself for the previous year and requested a statement of account to be sent to my mail about 10 times. Even after reaching out to support, I had to export quarter by quarter due to size limits, and one quarter still did not generate.

Beyond issues with account statements, customers are grappling with unresolved transaction disputes and technical glitches.

GTBank set to shut down its app temporarily from October 11

For instance, user @yinksy09 recounted a series of issues, including a failed money transfer, a POS dispense error, and mobile app malfunctions.

Someone made a transfer, and the money didn’t reflect. POS dispense error, and I’m yet to get my money. GT mobile app issues, and before I got my statement, I had to try several times,” they wrote on X.

The user linked these problems to the bank’s recent upgrade to Finacle, suggesting that the technical transition may have introduced more complications than it solved.

User @ojaoyingbo also shared a troubling experience, noting discrepancies in their account balance.

"My account with them was also not balanced, and when I raised the issue, they gave some flimsy excuses. I am going to have a showdown with them very soon," the user said, signalling a growing impatience among customers.

A pattern of decline at GTBank?

The current wave of complaints builds on earlier frustrations expressed by GTBank customers in recent months. During a high-profile system migration to the Finacle core banking platform, customers reported missing funds, phantom loans, and inaccessible accounts.

These issues disrupted daily financial activities and led to widespread backlash on social media.

For instance, user Max Vayshia recounted a harrowing experience where his account balance turned negative by ₦400,000 due to a phantom loan. Similarly, other users reported deductions for loans they never took or inexplicably missing funds.

The issues persisted even after repeated complaints to customer service, leading many to question the bank’s internal processes.

Erosion of trust

The steady stream of complaints raises critical concerns about GTBank’s data integrity, technological infrastructure, and customer service. A common thread in customer grievances is the bank’s slow response to issues and lack of proactive communication.

The frustration is evident in comments like those of @sodiq1313, who have already transitioned to another bank, and @bigbrovar, who spent an entire day at a GTBank branch without resolution.

These incidents highlight the tangible consequences of declining service quality on customer loyalty.

UPDATE: GTBank completes core banking upgrade opens branches Till 6 PM

Why this matters

GTBank’s challenges highlight broader concerns about the Nigerian banking sector’s readiness for digital transformation.

The bank’s struggles represent more than isolated incidents of poor service; they underscore a systemic issue that could have far-reaching implications. The bank has long been regarded as a pioneer in Nigeria’s banking sector which is known for its innovative products and efficient services.

For a financial institution, trust is non-negotiable. Customers rely on banks not only to safeguard their money but also to provide seamless, reliable services. Persistent issues with data management, transaction resolution, and customer support erode this trust and raise questions about the bank’s ability to handle its customers’ financial needs effectively.

The mounting dissatisfaction among GTBank customers is a wake-up call for the bank to address its operational shortcomings and rebuild trust. Whether it can reverse the current crisis of confidence remains to be seen.


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