For some time now, we've been unable to settle USD transactions into your GTBank domiciliary account. We've worked closely with GTBank to find a solution, but this has been difficult because it's not entirely within our control.
We have a solution; one that involves Zenith Bank, please find it detailed below.
USD payouts into Zenith Bank accounts
We're recommending that you change your USD payout bank account to a Zenith Bank domiciliary account, our second option. This will enable us to pay out all your outstanding USD balance within the next 72 hours or less.
Creating a domiciliary bank account can be stressful, so if you don't already have one, we've partnered with the Zenith Bank team to simplify the process for you.
Here's what the modified process looks like:
- Kindly fill in the corporate bank account opening form. (Here's a sample form. Also, here's a tip: you can use Adobe Editor to fill the form right from your computer so you don't have to print it out, fill it, and scan it back.)
NOTE: If your business is a Paystack Starter Business, kindly fill in the personal account opening form instead.
- Please also provide two referees (pages 8 & 9 of the account opening form linked to above (Here's a sample reference letter)
- Kindly send a filled copy of these documents to email@example.com
Once you submit this document, we'll work with the Zenith Bank team to quickly create your bank account, and start making your USD payouts to it the next working day.
Update on GTBank payout bank accounts
We're still working with GTBank to resolve the payout issue, but in the meantime, we're unable to make payments into GTBank domiciliary accounts.
As a result of this, we'll begin restricting merchants with a GTBank domiciliary bank account from receiving USD payments starting on Monday, August 9, 2021.
Kindly note that this restriction only affects international transactions made in USD until you switch to a Zenith Bank account. It will not affect local and international payments made to you in NGN.
We understand how much of an inconvenience this is for you, so we sincerely apologize for the delay and thank you for your incredible patience.
Please reach out to us at firstname.lastname@example.org if you have any questions or require assistance at any step of the way.