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Zenith Bank introduces new service charge for USSD banking transactions.

Zenith Bank plc has announced a new service fee for all their USSD (Unstructured Supplementary Service Data) transactions and operations.

This was contained in a statement released by the bank yesterday, Saturday, June 5, 2021, which was dispatched to all their customers through their emailing and mobile service. It was equally shared via their official social media platforms.

According to the statement, the new USSD service charge on all their banking transactions is placed at a flat rate of Six Naira, ninety eight Kobo ( ₦6.98). Though they stated that the new USSD fee was introduced by the mobile network service provider, and as such, they are not responsible for the new rate.

According to the statement: "Dear valued customer, please be informed that you are now required to pay a fee of ₦6.98 to your mobile network service provider for every banking transaction carried out on all USSD banking platforms.

This means that when you access any banking service using USSD, a fee of ₦6.98will be charged to your bank account, which is in turn remitted fully by your bank, to your mobile network provider.

Please note that Airtime and Data purchases via USSD are exempted from this charge."

Unfortunately, no reason was given for the service update on their USSD banking, and the date that it will come into effect was equally not disclosed.

And on the other hand, as at the time of publishing this article, we could not ascertain if same has been introduced by other Banks, or that it is applicable to Zenith Bank customers only.

Meanwhile, this is coming at a time a lot of Nigerians are facing severe hardship, especially with the prices of food items and other essential commodities have skyrocketed.

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