Guaranty Trust Bank (GTBank), Ghana, has partnered telecom
operator Airtel Ghana to launch a GTMobile savings account to
enable new or existing GTBank and Airtel customers to carry out
some normal banking operations through their mobile phones.

GTMobile savings account allows customers to link their mobile
money wallet to their GTBank account(s). Users of this service can
also move funds from their linked bank accounts onto their mobile
wallets to buy airtime, internet bundles, make money transfers, pay
bills, and make payment for goods and services.

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According to GTBank, the mobile wallet is protected by a PIN and
funds stored on the mobile wallet are safe even if the phone or SIM
card is misplaced. Once the card is replaced, the GTMobile savings
account can be immediately restored.

Managing director of GTBank, Lekan Sanusi, said, “The potential
of this service increasing the speed of business transactions,
thereby adding value to bottom lines is immense.”

Sanusi added that GTBank is “constantly looking at innovative,
convenient and alternative ways to provide more convenience” for
its customers.

Sanusi added, “Considering the fact that mobile telephony usage
has more spread in Ghana than computer and internet usage, this
service has the potential of bringing banking services to more
people, especially the unbanked.”

The GTMobile savings account service also aims to allow the
payment of school fees and remittances, disbursement of monthly
allowances, tracking of payments and loan repayments by micro
financial institutions, and having access to funds in bank accounts
outside normal banking hours, according to GTBank.