Customers of the Guyana Bank for Trade and Industry (GBTI) are paying higher fees for wide range of services.
The changes took effect from June 30, 2026.
According to the updated rates on the bank’s website, the revised schedule covers a wide range of services across current, savings and foreign currency accounts, as well as loans, overdrafts, credit facilities, cards and other banking services.
For current accounts, GBTI’s ledger fee is $30 per cheque after the first four free cheques, while the minimum monthly charge for current accounts is $2,000. Personal chequing accounts carry a minimum monthly charge of $1,000.
Savings account holders are subject to a monthly maintenance fee of $200. The bank also charges $300 per month on dormant savings accounts.
Foreign currency account holders are charged a monthly maintenance fee of US$5.50, while dormant foreign currency accounts attract monthly fees of US$1.42, £1.10, €1.26 or CAD$1.85, depending on the currency.
Customers closing savings accounts within one month will pay $3,000, while accounts closed within 90 days attract a $1,500 charge and those closed within 180 days attract a $1,000 charge. Current account holders closing accounts within 90 days will pay $1,000, while accounts closed within 180 days attract a $500 charge.
The bank has also set charges for a range of electronic transactions. Outward electronic funds transfers (ETFs) by walk-in account holders attract a $100 charge plus $300, while inward EFTs cost $50. Requests for credit advice cost $200 and queries by an originator cost $500. Transfers between accounts attract a $2,000 charge plus the applicable debit advice charge.
The revised schedule also increases the cost of several loan-related services, with application fees for ordinary loans and overdrafts ranging from $4,000 for facilities up to $3 million to $30,000 for facilities exceeding $25 million.
Express loan applications range from $3,000 for facilities up to $3 million to $22,500 for facilities above $25 million. Negotiation fees for loans and overdrafts up to $500 million are set at 0.75 percent of the facility amount, subject to a minimum of $10,000, while facilities above $500 million attract a one-percent fee.
Customers seeking confirmation of a line of credit will pay between $5,000 and $30,000 depending on the size of the facility. A demand letter and discharge of mortgage each carry a $5,000 charge.
The schedule also imposes a three-percent penalty interest charge on overdue loan instalments. Customers who fail to submit required financial statements could face charges ranging from $40,000 to $100,000, depending on the size of the facility.
Other charges include fees for site visits, reference letters, statements, collateral-related services, audit enquiries and guarantees.
For instance, site visits attract fees ranging from $5,000 for facilities up to $30 million to $20,000 for facilities exceeding $100 million. Statements of interest paid for income-tax purposes cost $3,000 for the current year and $4,000 for previous years.
The bank’s schedule also lists charges for card services, including GBTI Mastercard debit card transactions, replacement cards, ATM transactions, bill payments and increases to daily limits.
Discussion