- June 9, 2021
- Posted by: adminer
- Category: Finance & accounting
Some bank customers have continued to lament fees that banks charge them on every banking transactions carried out on all Unstructured supplementary service data (USSD) banking platforms.
Some of the customers said that they would not blame the bank for the fee charged but bad governance and leadership in place.
USSD is a communications service controlled by mobile network operators.
It is also a critical piece of infrastructure used to provide mobile financial services on most phones, at low cost, and without requiring access to the user’s SIM card.
Some banks have been sending notifications of the fees to be charged to their customers.
GTB message reads “Please be informed that you are now required to pay a fee of N6.98 to your mobile network provider for every banking transaction carried out on all USSD banking platforms.
“This means that when you send money to anyone using USSD, a fee of N6.98 will be charged from your bank account, which is in turn remitted in full by your bank, to your mobile network provider.
“Please note that Airtime and Data purchases via USSD are exempted from this charge on USSD platforms………..TO CONTINUE READING CLICK HERE