Guaranty Trust Bank Nigeria

Guaranty Trust Bank Nigeria provides point-of-sale services to merchants. The legal entity named is Guaranty Trust Bank Ltd, part of the GTCO group.

Merchant acquiring The listed services are merchant acquiring and POS. The bank is a merchant-acquiring offering within a full bank, so settlement and account relationships run through the same institution.

Fee campaign The bank announced the removal of merchant service charges from 11 February 2025 for SME merchants that meet the conditions. Whether the campaign still applies should be confirmed when an agreement is concluded, because the data does not say how long it runs or which merchants qualify.

Who it suits The offering suits Nigerian small and medium-sized merchants that already bank with GTBank or want a bank-run POS service. Information on terminal types, settlement periods and the full eligibility criteria for the fee waiver is not given and should be requested from the bank. Merchants that process volumes above SME thresholds should also ask which rates would apply to them.