The Guyana Bank of Trade and Industry (GBTI) has raised its daily withdrawal limit and the amount that can be withdrawn during a single transaction at its Automated Teller Machines (ATMs).
The bank announced the increases in a post on its Facebook page.
When contacted by Stabroek News, GBTI’s Marketing and Communi-cations Officer Nadia De Abreu confirmed that the new daily withdrawal limit is $200,000 at the bank’s ATMs, while the one-time withdrawal amount is now capped at $120,000.
The bank has also reinstituted its previous transaction fee of $70, which it had initially waived and then lowered to $50 with the onset of the COVID-19 pandemic last year.
De Abreu believes that the new limits are a “win-win situation” for customers, who can withdraw as much as $120,000 in a single transaction with a fee of only $70, as opposed to the multiple fees they would have had to pay when withdrawals were restricted to $40,000 per transaction.
She concluded that the rate compared to other competitive banks is reasonable, since some banks “charge a $100 per transaction with a one-time withdrawal limit of $100,000.”
When reintroducing fees last year August, the bank stated on its website that “We hope our “No Fees” made a difference to you over the past 5 months. Effective August 1, 2020, we are reintroducing: The standard $25 Point of Sale fee, a reduced fee of $50 for ATM withdrawals. The daily withdrawal limit remains at $150,000 and Display preventative and safety guidelines through notices and animated videos in the bank and at the ATMs.”
