gt bank issues leave customers worried and frustrated

GT Bank issues have left customers worried and frustrated, and it's no wonder why. The bank has been plagued by a series of problems, including a major IT outage that left customers unable to access their accounts.

One of the most significant issues was the IT outage, which lasted for several hours and affected thousands of customers. This outage was a major inconvenience for customers who rely on online banking for their daily transactions.

Customers took to social media to express their frustration, with many reporting that they were unable to access their accounts or make transactions. The bank's social media team responded to some of the complaints, but many customers felt that the response was inadequate.

The IT outage was not the only issue affecting GT Bank customers. The bank has also been criticized for its customer service, with many customers reporting long wait times and unhelpful representatives.

GTBank customers have been sharing their stories of unexplained account debits, phantom loans, and lack of accountability.

These are not isolated incidents, but recurring experiences that paint a picture of deep-seated issues in the bank's financial systems.

Customers have reported accounts mysteriously turning negative by as much as ₦400,000, with incoming payments being diverted to settle these "debts."

One customer, @maxvayshia, even had his salary deducted to settle a phantom loan he never applied for.

The bank's customer care team has been inconsistent in their explanations, with one customer being told he had been paid twice, a claim his employer denied.

GTBank has been criticized for its handling of these incidents, with many customers losing trust in the bank.

Some customers have resorted to closing their accounts, while others are still fighting to resolve their issues.

Public pressure and social media seem to be the only tools forcing the bank to act, with customers who raise the loudest alarms seeing their issues resolved faster.

It seems like GTBank's issues may be more than just technical glitches. Experts in banking technology believe the scale of the problems could indicate inadequate preparation during the system upgrade.

The bank's transition to a new core banking system didn't involve thorough testing of all possible scenarios, including edge cases like account reconciliations and loan processing. This lack of preparation might have led to errors like unexplained debits, missing funds, or misclassified loans.

Phantom loans, where customers claim they're repaying debts they never incurred, raise concerns about data integrity and internal governance. This suggests that the bank's financial records may have been compromised during the migration process.

The bank's apology doesn't directly address these specific concerns, instead framing the disruptions as temporary challenges on the road to providing a more robust banking experience.

GTBank has offered public reassurances, but these have done little to address the specifics of customer complaints.

The bank's latest statement expressed gratitude for customer patience and acknowledged the significant disruptions caused by its migration to the new Finacle Suite of Core Banking Applications.

GTBank described the move as a necessary step to improve agility, adaptability, and overall customer experience, but also admitted to delays in transaction processing and service interruptions.

Discover more: Gt Bank Customer Service

The bank offered a formal apology, but many customers remain unsatisfied with the lack of detailed explanations for issues such as missing funds and phantom loan repayments.

One GTBank staff suggested that the disruptions might stem from incomplete transactions during the migration period, where some customers initiated transactions before the transition that didn’t properly clear in the system.

Without a comprehensive breakdown of the causes and a clear roadmap for resolution, GTBank risks losing the trust of customers.

Discover more: Bank of America Issues Warning to Customers