Why is the current account Guaranty Trust Bank Ltd offers so expensive?

Author	Message
Written on: 04.12.2009 [17:25]
Ballack Ballack Topic creator Posts: 3	The current account that Guaranty Trust Bank Ltd offers is so expensive, you have to firstly have a minimum of 5k and then pay around 100 a month just to use the account. Is there any specific reason for this? You would think that for a relatively small bank (here in the UK anyway) they would have to lower their prices in order to get customers.
Written on: 07.12.2009 [05:43]
Burt Burt Posts: 3	I think it’s something to do with their money transfer services. The bank is set up in Ghana, Nigeria and a couple of other West African countries and for people who come from their it will save them time and money as they can transfer directly to a GT bank in their home country in just 24 hours.
Also very interesting: What are the different kinds of current asset accounts? Looking at private banking: Westpac offer deals worldwide? Is the First Savers Bank Greenville (SC) based? Why is the current account Guaranty Trust Bank Ltd offers so expensive? Ultimate Reward Current Account Halifax benefits worth £13/month? Halifax ultimate reward vs NatWest Advantage Gold Can I transfer money from the NatWest Eltham branch to America? Problem with putting cheque in NatWest Epsom branch… What are the NatWest step account limitations? How to cancel a HSBC standing order?