Customers who use unstructured supplementary service data (USSD) channels to access banking services would have to pay new charges from October 21.
Some telecommunications network service providers have sent notices to their customers of the new charge.
“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.
Banking services were introduced on USSD channels to ensure easier access to banking services.
Before now, telcos charged customers per USSD session.
This charge differed across networks with the highest being N20 per session.
However, this new charge would mean that customers will be charged N12 for every minute spent on the USSD channel.
Already, the development has elicited reactions from customers and they have taken to social media to express how they feel on social media.
Some customers went as far as sending messages to their banks for further information on the charges.
Some banks have responded saying their charges remain unchanged.
See reactions from Nigerians on Twitter
“Our fees and charges on the USSD service remain unchanged and all our services are available,” Access Bank’s Twitter account replied a customer.
@MTNNG @MTN180 yesterday I asked why you sent me a message about new charges on banks USSD usages, you insisted it was at the instance of banks, well one of my banks @FirstBankngr have DMed to say they didn’t ask you to do such.
Can you show some proof?@DrIsaPantami @henryshield pic.twitter.com/s4REJa0U2Z
— Donan Joshua Amillah (@DonanAmillah) October 20, 2019
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. 🚶♂️ pic.twitter.com/7JZxbQ2Qhg
— Alex Oluwatobi (@alexlobaloba) October 20, 2019
If you know how payment services work, you’ll understand that USSD service use can never be free. The banks have been the ones paying the Telcos for the service, but now they’ve decided to shift the payment to the consumers. Well, I can’t relate cos I don’t use USSD.
— Wale Adetona (@iSlimfit) October 20, 2019
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?🤷🏽♂️🤷🏽♂️🤷🏽♂️
— BAMIDELE (@datblarkboi) October 20, 2019