Some Nigerian banks have informed their customers that they will start charging them 6.98 nairas for every USSD transaction. One of the things that reduce people's tendencies from making use of some services of the banking institutions is based on charges placed on these transactions.
Unreasonable charges by banks could stand as a threat to financial inclusion, this is because customers will avoid using USSD for their transactions and could also discourage the unbanked segments of people because they would not prefer to pay such charges over their deposits.
First Bank, Fidelity Bank, and GTB customers are hereby communicated to know that "a fee of 6.98 nairas will be paid to the network provider of the customer for every transaction carried out on the USSD banking platforms".
When you send money to anyone using the USSD platform, a fee of 6.98 nairas will be charged to your account, which will be remitted to your mobile network provider by your bank.
However, customers should know that airtime and data purchase via USSD is not included as there will be no charge for it. The bank management has advised the customers to make use of other electronic transaction functional in the bank to avoid paying the fees.
Dear readers, what is your view about this recent fee of 6.98 nairas for USSD? Do you think it will cause many people to stop using the USSD platform?
Kindly drop your comment below.
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