AUGUSTINE AVWODE
Bank customers in Nigeria are to henceforth pay a fee of N6.98 for every transaction involving the use of USSD to their Mobile Network Providers.
One of the old generation banks made this known to its customers in an update it issued on Saturday evening.
The said fee would be remitted in full to the mobile service providers, according to the update.
It reads: ” Important Update on USSD Transactions”
“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 access any banking service using USSD, a fee of N6.98 will be charged to your bank account, which is in turn remitted in full by your Bank, to your Mobile Network Provider. The bank only collects and remits the fees on behalf of the telco for use of the USSD platform.
“Airtime and Data purchases via USSD are however exempt (sic) from this charge.
“Our alternative channels are available for you to transact with us at no charge. Use our digital channels or transact at any agent location at no additional charge”, the update read.
