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- Two commercialized banks successful Nigeria person commenced USSD banking charges from customers' airtime alternatively of their slope accounts
- The 2 banks disclosed successful abstracted emails to their customers that the USSD charges volition commence connected July 1 and 2, 2025
- They stated that the customers volition beryllium charged N6.98 per 120 seconds and volition request to springiness consent earlier deductions volition beryllium made
Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.
Union Bank and First City Monument Bank (FCMB) person announced that they volition commence the deduction of USSD banking charges from airtime alternatively of slope accounts from July 1 and 2, 2025.
In a announcement by Union Bank sent to its customers’ emails, the fiscal instauration said the determination aligns with a directive from the Nigerian Communications Commission (NCC).
Source: UGC
USSD charges: Why volition the deductions begin?
FCMB, connected its part, notified its customers that the caller charges volition commence connected July 2, 2025.
The 2 banks person joined the increasing database of fiscal institutions that person migrated to the NCC’s end-user billing strategy for USSD banking.
The caller exemplary allows telecommunication companies to deduct USSD work charges straight from subscribers’ airtime, ending the relation of banks arsenic intermediaries successful the outgo process.
Why complaint from customers’ airtime?
A erstwhile study by Legit.ng disclosed that the telcos had complained that fiscal institutions were taking charges from customers without remitting them to the operators, contempt receiving implicit N200 cardinal by the extremity of 2024.
The improvement created a debacle betwixt the telcos and the banks, starring to the disconnection of immoderate banks from the telecoms USSD platforms.
The new billing system, which began this month, volition reportedly easiness hostility betwixt the banks and the telcos and USSD transactions and gross collection.
Meanwhile, Union Bank announced that nether the caller billing system, each USSD volition pull N6.98 per 120 seconds, stating that users’ telcos volition measure them.
USSD: Will the lawsuit beryllium notified?
It further said that customers volition person a consent punctual astatine the opening of each session, and airtime volition lone beryllium charged upon the customer’s confirmation and the bank’s availability to fulfil the service.
“If you bash not privation to proceed utilizing USSD banking nether this caller model, you whitethorn opt for alternate integer banking options, specified arsenic our mobile app and net banking platform,” the slope stated.Punch reports that the FCMB’s connection to customers notified them that, effectual July 2, the N6.98 USSD complaint volition beryllium deducted from their airtime equilibrium and nary longer from their slope accounts, stating that customers volition request to springiness consent.
Source: UGC
Telecom operators update connected banks' USSD Debt payments
Legit.ng earlier reported that the Association of Licensed Telecoms Operators of Nigeria (ALTON) has provided an update connected the ongoing quality betwixt Nigerian banks and telecom companies regarding the outgo of debts for USSD services.
Speaking astatine a caller forum hosted by telecom operators and attended by Legit.ng, ALTON President Gbenga Adebayo expressed restitution that banks person been making the expected payments to resoluteness the issue.
It is worthy noting that the USSD indebtedness owed by banks to telecom operators grew from N32 cardinal successful 2019 to astir N250 cardinal successful 2024.
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Source: Legit.ng
