Yes, I’ve got a beef with Guaranty Trust Bank (GTBank) over their transaction reports. Whether I’m accessing it by logging on to their internet banking platform in a browser or through their mobile app, they have never cease to make me angry.
For about two(2) years or more, the ringtone on my phone has been Asa’s “Step Into The Future”, which was a song specially recorded for GTBank. Just in case, you haven’t heard it. I’ve shared it below.
In essence, anytime I receive a call and my phone rings, I’m actually promoting GTBank (They should pay me for that. Don’t you think 😛 ). So, it’s more of an anomaly to see myself angry with the same bank. Furthermore, even though, I have accounts in a few other banks, GTBank is the only bank where I have a savings account, current account and a domiciliary account. So, if I have to view transaction reports that makes my stomach turn and increases my blood pressure because of anger on three(3) different accounts, then I guess you would understand my pain.
In actual fact, you should also feel the same way unless of course you have never done a transaction on a weekend or on a public holiday. As a computer programmer that has had the opportunity of being involved in teams that have developed a number of payment systems and software for the banking industry, I understand the essence of reports and taking care of every detail that needs to be displayed to the users of the software.
My Actual Beef
Why would I carry out a transaction today and it would be showing tomorrow’s date (or a later one) as the transaction date? From my interaction with banking systems, I understand that there are two (2) dates attached to a transaction and they are
- The actual transaction date: This is the actual date that the transaction took place. For example, I transferred ₦3,000 from one of my accounts to another one yesterday, January 17, 2015. Then the transaction date for that particular transaction is January 17, 2015.
- The value date: If the transaction date is a work-day, then the value date is the same as the transaction date. However, if the transaction date falls on a weekend or public holiday (that is, if it is not a work-day), then the value date is the next work-day. For example the ₦3,000 transaction above has a value date of January 18, 2016 because the actual transaction date is not a work-day.
Now, the screenshot below is the report that I’m seeing for that account today January 18, 2016.