Opera News

Opera News App

This Is Why You Should Stop Buying Airtime From Banks (OPINION)

Slim_blogger
By Slim_blogger | self meida writer
Published 7 months ago - 954 views

In the past, when there was little or no technology, people seemed to be coping with every situation they find themselves in, no matter how inconveniencing it is. But with the Advent of development and technology, life have been made easier, and less stressful. We can get anything we want at the comfort of our home.

Today, I'm going to enlighten you guys on the advantages and disadvantages of recharging both airtime and data, directly from your bank. before you proceed, please click the follow button, to read my articles once they are published.

Since the introduction of mobile banking and automated banking in Nigeria in 2015, many Nigerians formed the habit of doing almost every bank transactions from their mobile phones and devices. One of the tools used by many banks to enable convenient banking is USSD.


USSD CODES

USSD, which is an abbreviation for Unstructured Supplementary Service Data, is a short unique code introduced by banks to be used by customers to ease transaction process. The bank USSD codes, can be used to transfer funds, buy airtime, and even get a card, because they have been linked to your mobile number and BVN.

As I have explained the USSD codes, now you understand what it's all about, so as not the bore you, I'll go straight to giving you the advantages of buying airtime from banks.


Advantages of buying airtime from banks

1. Convenience: Buying airtime and data from bank, is quite convenient, because you don't need to move an inch. Just dial the relevant code and follow the query, and that's it.

2. Emergency: In time of emergency and panic, you can easily buy airtime and make an urgent call. An example of a situation, is at midnight.

Now, I believe you all understand the advantages of buying airtime from banks. But now, I'll drive into the main topic which is The Disadvantages. Everything that has advantages must have Disadvantages. In as much as the advantages of buying airtime from banks, has vast advantages, let's not be misled, for the disadvantages causes more damages. Below are the disadvantages.


Disadvantages of Buying Airtime From Banks.

1. Prone to hackers: As I explained the concept of USSD above, here is the dark side of USSD codes. Messages over USSD are not encrypted, meaning that they are vulnerable to hackers. When thieves steal phones, their main profit is not just the phone itself. Thieves steal phones to access the SIM card, which is already connected to the victims bank account. They can generate the victims Bank Verification Number (BVN) and wipe the account.

They do it by first, they'll purchase a recharge card using USSD code of the victims bank, so they'll know their bank balance. Second, they take out that SIM card, put it in their phone, and obtain the last digits of the victims BVN to make a transfer. They dial the short code for obtaining the BVN number which is *565*0#. After these steps, they can wipe the victims account.2. SIM swap theft: SIM swap is when a network user replaces their SIM card with a new one, moving their data to the new SIM, including bank informations. The problem there is when someone that doesn't own he phone, goes to a mobile center for a SIM swap, and access the owners data including their bank informations. And note: a SIM card must be inactive for six months, before the number is reassigned.

3. Unemployment and reduction in sales: You might be wondering why this is a disadvantage. It is because, since the inception of mobile banking and USSD purchase of recharge card, these self employed youths have closed down their recharge card businesses. Although some are still selling, but you can commonly find them, along roadsides and rural areas. People who owned these kiosks are now into SIM cards registration and activation. Even people who still sell recharge cards in hardcopy, merged it with with another business. You can't find a person who sells only recharge cards. So let's get this business booming again, because it is one of the affordable businesses, one can venture into in Nigeria.

I hope you have learnt something from this article. Please share to enlighten others. Don't forget to like, comment and follow me for more.

Content created and supplied by: Slim_blogger (via Opera News )

Tags:      

Advent Nigeria Nigerians OPINION USSD
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform

YOU MAY LIKE

See what this Wolves star said about Lionel Messi, that will get you thinking.

0 minutes ago

0 🔥

See what this Wolves star said about Lionel Messi, that will get you thinking.

See Pre-Birthday Photos Of 90-Year-Old Woman That Sparked Reactions

2 minutes ago

0 🔥

See Pre-Birthday Photos Of 90-Year-Old Woman That Sparked Reactions

After The Blockage Of Food Supply To The South, See The Reaction Of Northern Tomato Farmers!

4 minutes ago

0 🔥

After The Blockage Of Food Supply To The South, See The Reaction Of Northern Tomato Farmers!

Lady In Ebonyi Plans To Sell Her Baby Boy For N40,000 To Start Beer Palour Business

4 minutes ago

0 🔥

Lady In Ebonyi Plans To Sell Her Baby Boy For N40,000 To Start Beer Palour Business

American Rapper Finally Breaks Silence On Davido's Alleged Relationship With Her Ex-girlfriend

5 minutes ago

12 🔥

American Rapper Finally Breaks Silence On Davido's Alleged Relationship With Her Ex-girlfriend

Sugar Daddy Barricades And Seized Car He Bought For His Girlfriend

6 minutes ago

2 🔥

Sugar Daddy Barricades And Seized Car He Bought For His Girlfriend

"When You See A Shark Inside Water Don't Run But Do This Thing"- Man Gives Advice, See Reactions

11 minutes ago

1 🔥

Michael Owen states his prediction for Liverpool vs Chelsea and Crystal Palace vs Man United

16 minutes ago

82 🔥

Michael Owen states his prediction for Liverpool vs Chelsea and Crystal Palace vs Man United

Erica Stuns as she shares these beautiful head shot photos on her Instagram page.

16 minutes ago

30 🔥

Erica Stuns as she shares these beautiful head shot photos on her Instagram page.

Strange Facts About Famous Movies

17 minutes ago

0 🔥

Strange Facts About Famous Movies

COMMENTS