Guaranty Trust Bank (GTBank) has introduced a new mobile channel that allows its customers to transfer money on the mobile phone to both GTBank and other bank account holders in Nigeria.

Customers can execute third party transfers by just dialing the USSD short code *737* with details of the amount and account number (NUBAN) of the beneficiary.

The *737* transfer service is another novel offering pioneered by GTBank in the Nigerian Financial Industry, that is safe, simple and convenient.

The service follows the bank’s One Click Top -up service that enabled customers to buy airtime on their mobile phones directly from their accounts by dialing a short USSD code *737*AMOUNT#.

With this service, customers can transfer funds only through their mobile number registered with the bank. The service will have a minimum transfer limit of N1, 000 and a daily transfer limit of N20, 000.

GTBank managing director Segun Agbaje said: "We will continue to leverage technology to make banking, especially payments and transfers, faster, safer and more convenient for all our customers. This service addresses the electronic banking requirements of our customers, irrespective of their phone type."