GTBank notifies customers on N6.98 charge for USSD transactions – Guaranty Trust Bank will henceforth charge customers carrying out transactions using Unstructured Supplementary Service Data (USSD) N6.98 per transaction.
The USSD service has come under the spotlight after reports surfaced that Telecommunications operators in the country are again planning to disconnect commercial banks from the use of the service as debt for the service is said to have risen to over N47 billion as of end of May 2021.
FINANCIAL WATCH gathered the bank made the new charge known in a mail sent to customers Saturday morning; “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 send money to anyone 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”
“Please note that Airtime and Data purchases via USSD are exempt from this charge on USSD platforms”
“As our customer, we are making sure you have as many options as possible for all your financial transactions. You can send money to anyone and pay bills anytime using our GTWorld Mobile App, at no extra charge”.
Already other banks in the country have already been charging N6.98 per transaction to customers using the USSD to perform banking activities.