Hello Nairalanders,

I am trying to make an urgent USD transfer from my GT Bank Dorm account to another GT Bank account.

But unfortunately it keeps failing, saying the maximum I can transfer is 0.

Please how can I get past this.

I NEED to make that transfer

Thank you.

UPDATE:

I went to the bank yesterday, and the guy at fx transaction desk told me that, the USDs in my account were "cash deposited" and as so I can't make transfers.

My only option was to withdraw the dollars.

I did that, and went to the near access bank and deposited into the other account I wanted to transfer to.

Thank you all. For your contributions.

Are you transferring dom to dom or dom to naira acct... if it is dom to naira acct ..do an internal transfer within your acct first ...as for dom to dom i don't know.

Did you choose fx transfer to another gt bank? If situation is same, mail fxcustomercare@gtbank.com. they help you fix it

jackcanfield:
Are you transferring dom to dom or dom to naira acct... if it is dom to naira acct ..do an internal transfer within your acct first ...as for dom to dom i don't know.

It's dorm to dorm [both accounts with gt bank].

How much will they convert the dollars if I do the internal transfer

ArewaTech1:


It's dorm to dorm [both accounts with gt bank].

How much will they convert the dollars if I do the internal transfer

Most likely official rate which is around 410 but chat them up on twitter to see if you can do dom to dom because the difference btw buying and selling officially is roughly 100 naira

Eriokanmi:
Did you choose fx transfer to another gt bank? If situation is same, mail fxcustomercare@gtbank.com. they help you fix it

Yes, I selected FX Transfer to GT Bank and I tried different amounts from $10 - $100... But I am still getting the same error.

I need to transfer $100, as I NEED naira urgently.

I guess I'll try internal transfer to my naira account

ArewaTech1:

Yes, I selected FX Transfer to GT Bank and I tried different amounts from $10 - $100... But I am still getting the same error.

I need to transfer $100, as I NEED naira urgently.

I guess I'll try internal transfer to my naira account

do you have enough balance in.yiur dom acct? For you to transfer 100usd, you need to have at least 130usd as your balance.

Is it a cash deposit into your account?

Eriokanmi:
do you have enough balance in.yiur dom acct? For you to transfer 100usd, you need to have at least 130usd as your balance.

You only need 100.60 dollars to be able to transfer $100. Their transfer charges is 10% of principal as commission +7.5% of commission.

abbasajao:


You only need 100.60 dollars to be able to transfer $100. Their transfer charges is 10% of principal as commission +7.5% of commission.

I was only saying cos I had experienced it in the past. Tnx anyway

If you deposited the money cash, you can't tranfer it. How much do you need in the other account?

abbasajao:
Is it a cash deposit into your account?

That's most likely the problem, CBN has restricted such transactions.

abbasajao:
Is it a cash deposit into your account?

I went to the bank yesterday, and the guy at fx transaction desk told me that, the USDs in my account were "cash deposited" and as so I can't make transfers.

My only option was to withdraw the dollars.

I did that, and went to the near access bank and deposited into the other account I wanted to transfer to.

Thank you all. For your contributions.

Springboot:
If you deposited the money cash, you can't tranfer it. How much do you need in the other account?

Yeah, it is as you said.

I went to the bank yesterday, and the guy at fx transaction desk told me that, the USDs in my account were "cash deposited" and as so I can't make transfers.

My only option was to withdraw the dollars.

I did that, and went to the near access bank and deposited into the other account I wanted to transfer to.

Thank you all. For your contributions.

Springboot:


That's most likely the problem, CBN has restricted such transactions.

But why can't I transfer, after all it's my money.

ArewaTech1:


But why can't I transfer, after all it's my money.

It's a temporary policy by CBN to control FX.

ArewaTech1:


I went to the bank yesterday, and the guy at fx transaction desk told me that, the USDs in my account were "cash deposited" and as so I can't make transfers.

My only option was to withdraw the dollars.

I did that, and went to the near access bank and deposited into the other account I wanted to transfer to.

Thank you all. For your contributions.

That is the best option for you even if you are able to transfer. The reason is that, when transfer to another bank in Nigeria, all charges applicable to transferring abroad also applies to transfer within different banks in Nigeria.

I buy all dorm funds at parallel market rate

Access dorm funds
Stanbic dorm funds
Gtbank dorm
Zenith dorm funds

abbasajao:


That is the best option for you even if you are able to transfer. The reason is that, when transfer to another bank in Nigeria, all charges applicable to transferring abroad also applies to transfer within different banks in Nigeria.

Yeah.
Just read from someone on the internet, he makes a test transfer of 10USD, and was charged 10.50USD.

I believe the best option is to withdraw and deposit to the destination bank.

Here in Sokoto, all the major Banks are a walking distance away from each other