The use of unstructured supplementary service data (USSD) channels for banking services would attract new charges from October 21.
The USSD service which was introduced to ease access to banking services and formally charged per session (highest rate of N20) will now be charged N12 for every minute spent on the USSD channel.
Some mobile networks have also sent out notifications to customers informing them of the new USSD code charges.
“Please note that from Oct 21, we will charge N4 per 20 seconds for USSD access to banking services. Thank you,” a notification sent by MTN to customers read.
Nigerians have now taken to their social media pages to react to the new development. See some reactions below.
All that’s been gotten from this government is extra billing, things an average man didn’t know they pay for has gotten an attached price, TF is USSD Charges … yet nothing has improved in the society at large, we haven’t even gone a year into the regime. – @ayomachine
So @MTNNG in their usual fashion have gone ahead to implement a new charge on bank USSD usage directly from registered mobile numbers claiming it is at the instance of Banks. Why should I be charged by my bank and mobile operator for using same service. This is unacceptable to me – @DonanAmillah
About that USSD thing, I noticed that @ZenithBank has been deducting N15 Everytime I use their USSD code to check my account balance… Just checking my account balance ooo! Well, if I can’t beat them, I may as well own a bank one day. It’s a good business venture. 🏦🤔 – @DoctorEmto
Charges on bank transfers, charges for card maintenance, charges on bank SMS, charges on USSD, charges on online payments. Like, what kind of system only takes from it’s people without any form of giving back?🤷🏽♂️🤷🏽♂️🤷🏽♂️ – @datblarkboi
Wait, are you guys just getting to know about network provider’s USSD code use direct charge? I have been getting such charges for using Stanbic IBTC bank USSD code for years, which was my only disappointment with the bank. To avoid the charge, use your mobile app. – @MistaChika
1. VAT on an increase.
2. Toll gate is coming back.
3. Charges on cash deposit & withdrawal has been implemented.
5. N50 stamp duty on PoS transaction over 1k.
6. Payment for the renewal of National ID card.
7. USSD charge for banking services.
Sighs, it is well. 🚶♂️ – @alexlobaloba
They said we go cashless, we did. They stopped making money, and decided to charge us for using USSD 🤦🏾♂️ – @KYAQY
I don’t know who needs to see this, but if you are still young and have the opportunity to leave Nigeria please do leave. How can my bank instruct MTN to deduct 4naira every 20secs using USSD. And bank will still charge 4naira for SMS. What sort of madness and extortion is this – @AskMeWhatIWant