Guaranty Trust Bank (GTBank) has implemented a significant change in how it bills customers for Unstructured Supplementary Service Data (USSD) transactions. Effective today, the bank will now deduct the ₦6.98 USSD service charge directly from customers' airtime balance, a shift from the previous practice of debiting their bank accounts.
This move aligns with a recent directive from the Nigerian Communications Commission (NCC), the country's telecommunications regulator. The NCC has mandated that all banks transition to a direct airtime billing model for USSD services. This is intended to streamline the payment process and resolve long-standing revenue-sharing disputes between banks and telecommunication companies.
In a notice sent to its customers, GTBank stated, "Dear Customer, please be informed that effective today, the ₦6.98 USSD fee will be deducted from your airtime balance, and no longer from your bank account."
It is important to note that this ₦6.98 charge applies to general banking transactions initiated using the *737# USSD code, such as funds transfers and balance inquiries. However, the bank has clarified that the purchase of airtime and data bundles via the USSD platform will remain exempt from this particular service charge.
The transition to airtime-based billing for USSD services is a nationwide development affecting all Nigerian banks. The NCC's directive aims to create a more sustainable and transparent billing system for the widely used USSD platform, which remains a critical channel for financial services for millions of Nigerians, particularly in areas with limited internet connectivity.
