Guaranty Trust Bank PLC SWIFT/BIC code

GTBINGLA – the SWIFT/BIC code of Guaranty Trust Bank PLC

Whether a recipient gives you GTBINGLA or GTBINGLAXXX, you are looking at the identical address for Guaranty Trust Bank PLC in Nigeria. A SWIFT code tells the sending bank which institution should receive the money. In practice you usually see it on international invoices, in payment forms and in the bank details that Guaranty Trust Bank PLC provides.

Further down we go through the practical side: money coming in from abroad, sending money abroad and how to verify a SWIFT code before you confirm a payment. A SWIFT code names an institution, not a specific account, which is why you always need the account number too.

8 or 11 characters: GTBINGLA versus GTBINGLAXXX

A BIC is built from fixed blocks: characters one to four stand for the bank, the next two give the country and the two after that mark the location. That gives you GTBINGLA for Guaranty Trust Bank PLC.

The 11-character version has three more characters that identify a branch or department. If the last three are XXX, the code points to the head office.

Type the code in one piece, in capitals and without separators, exactly as shown here. Copying the code beats retyping it, because one wrong letter changes the bank.

What a transfer from Guaranty Trust Bank PLC abroad really costs

The price of a payment abroad has several parts. Besides a fixed fee, correspondent or intermediary banks may take a cut, and if the money changes currency, the bank usually uses a rate that is less favourable than the real market rate.

That exchange rate margin is often the largest item because it is hidden in the rate. Check the rate you are offered with the mid-market rate, the midpoint between buy and sell rates you see on financial sites; the gap is what conversion costs you.

Specialised transfer providers frequently use a rate near the mid-market rate and lower fees. GoldexPay compares transfer providers next to each other, showing the amount the recipient gets before you commit. Using a transfer service does not mean leaving Guaranty Trust Bank PLC: you simply pay the service from your account.

Before you send: check the Guaranty Trust Bank PLC code

Have the recipient send you their account details directly from their online banking. If the code you have does not match GTBINGLA or GTBINGLAXXX, do not guess: check with the recipient or with Guaranty Trust Bank PLC directly.

If the code is wrong, the transfer might be delayed, be returned or cost extra. An error in the IBAN or account number is a bigger problem because it can reach the wrong person; check it just as carefully.

Most online banking apps validate the format of IBANs and sometimes look up the BIC automatically, but that does not prove the account belongs to the right person. Where available, a payee name check on the recipient adds extra certainty. A small test payment can be worth it for a large first payment, even if it costs an extra fee.

What to give a sender who pays you at Guaranty Trust Bank PLC

Someone abroad who wants to pay you needs several details from you – incomplete details often cause delays. The basics are: the account holder’s name, account number or IBAN, GTBINGLAXXX or GTBINGLA and in many cases your home address.

You can add Guaranty Trust Bank PLC and Lagos as well. Double-check every detail before you share them.

The amount you receive can be lower than what was sent. Fees for incoming transfers differ per bank. For business payments, you can agree how the fees are split to avoid a shortfall.

About this information

We gather bank codes from publicly available data and update our list from time to time. It can happen that information on this page is no longer current, for example after a merger. Counts and locations come from our directory and are not confirmed by Guaranty Trust Bank PLC.

For a payment of any size, always confirm the BIC with the recipient’s bank or the recipient. GoldexPay has no connection to Guaranty Trust Bank PLC. Found outdated information? Let us know via our contact form.

Watch out for payment fraud

Fraudsters regularly use payment requests containing new bank details. A correct SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Verify new payment details via a different channel like a call to a number from an earlier contract, never via the email that asked for the change. Watch out for urgent requests, odd spelling or an email address that differs by one letter. When money has already gone to a fraudster, call your bank right away.

Fraud also target the receiver. Someone claims to have sent more than agreed and asks you to refund the extra to a new account. Wait until the money has really arrived – ask Guaranty Trust Bank PLC if something looks wrong.

Choosing between the 2 SWIFT codes of Guaranty Trust Bank PLC

Having 2 codes, Guaranty Trust Bank PLC is one of the banks that use individual codes for branches. The head office code is GTBINGLAXXX.

Usually there is no need to pick a branch: transfers sent to GTBINGLAXXX are routed within Guaranty Trust Bank PLC correctly. Branch codes are only needed when the account holder specifically mentions it.

Unsure which code applies? Check with the recipient. Codes can change over time, so a code from an old document is not always valid.

How long does an international transfer to Guaranty Trust Bank PLC take?

There is no fixed answer for international payments: many land the same day or the next while others need several business days. Bank holidays in the sending or receiving country can add extra days to the journey. Occasionally a bank wants to know about the purpose of a payment, which can hold things up.

When a payment takes longer than expected, ask the sending bank for the tracking status. Money transfer services often show tracking online showing how far the payment is.

A delayed transfer has to be investigated by the sending bank, using the payment confirmation. On the receiving end, you can look at your statements for a slightly lower amount, since fees may have been deducted.