GTBank faces new customers’ outcry over missing account statements

Guaranty Trust Bank (GTBank), once a symbol of innovation and efficiency in Nigeria’s banking sector, is facing mounting criticism over a series of unresolved service failures, technical glitches, and poor customer support. Customers have taken to social media to express frustration with issues ranging from missing account statements to failed transactions and discrepancies in account balances, raising concerns about the bank’s reliability.

One of the most pressing complaints is the inability of customers to access their account statements, a basic banking service. User @bigbrovar shared his ordeal on X (formerly Twitter), revealing that GTBank could not retrieve his financial records from 2021 to 2024, which he needed for account verification with his stockbroker. “I spent the entire day at GTBank, and no one could provide a solution,” he lamented, questioning the bank’s data management practices.

Another customer, @sodiq1313, echoed similar frustrations, stating that the bank could only provide his records 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,” he said, reflecting a sentiment shared by many who are now seeking alternatives.

For user @obiokeke, requesting account statements became a cumbersome process. “I tried about 10 times to get my statements emailed to me. After reaching out to support, I had to export them quarter by quarter due to size limits, and one quarter still didn’t generate,” they recounted.

Beyond missing statements, customers are reporting broader technical issues. Failed transactions, mobile app malfunctions, and unresolved disputes are becoming alarmingly common.

User @yinksy09 described a series of challenges, including a failed money transfer, a POS dispense error, and repeated issues with the GTBank mobile app. “Someone made a transfer to me, and the money didn’t reflect. POS dispense error, and I’m yet to get my money. Even getting my statement required several attempts,” they wrote, linking the problems to GTBank’s recent upgrade to the Finacle core banking platform.

Another user, @ojaoyingbo, reported discrepancies in their account balance and received unsatisfactory explanations from the bank. “My account wasn’t balanced, and the excuses I got were flimsy. I’m going to have a showdown with them very soon,” the customer warned, signaling growing impatience among clients.

These issues follow a series of service disruptions that began during GTBank’s migration to the Finacle core banking platform. At the time, customers reported missing funds, phantom loans, and inaccessible accounts. One user, Max Vayshia, recalled an incident where his account balance turned negative by ₦400,000 due to a phantom loan. Despite repeated complaints, many of these issues remain unresolved, fueling distrust in the bank’s processes.

The growing dissatisfaction with GTBank’s services is eroding the trust the bank has built over the years. Customers frequently cite slow response times and a lack of proactive communication as major pain points. Many, like @sodiq1313 and @bigbrovar, have either left or are considering switching to other banks.

GTBank’s struggles reflect broader challenges in the Nigerian banking sector, particularly as institutions navigate the complexities of digital transformation. Known for its innovative products and efficient services, GTBank’s current crisis has implications that extend beyond the bank itself, raising concerns about the sector’s ability to deliver reliable, tech-driven services.

Trust is a cornerstone of banking. Customers rely on banks not just to safeguard their money but also to provide seamless and dependable services. GTBank’s ongoing issues with data integrity, transaction resolutions, and customer support underscore the risks of operational inefficiencies in the financial sector.

As customer dissatisfaction grows, GTBank faces a critical test: Can it address its operational failures, rebuild trust, and restore its reputation as a leader in Nigeria’s banking industry? The coming months will determine whether the bank can reverse the crisis or risk further erosion of customer loyalty.