GTBank has announced the implementation of a new fee structure for USSD banking transactions effective June 18, 2025, where fees will be deducted from mobile phone balances.
Changes in GTBank Billing
According to the bank's message, starting June 18, 2025, the N6.98 USSD fee will be deducted from customers' mobile airtime rather than their bank accounts. The message to customers states:
"*Dear Customer, please be informed that effective June 18, 2025, the N6.98 USSD fee will be deducted from your airtime balance, no longer from your bank account. Thank you,*" the message said.
Response to USSD Debt
This initiative is part of the Nigerian Communications Commission's (NCC) efforts to address the N250 billion debt owed by commercial banks to telecom operators. Mobile network operators, such as Airtel and MTN, have expressed concerns about overdue payments, impacting their businesses, and have threatened to cease USSD services unless the situation is resolved.
Examples from Other Banks
The United Bank for Africa (UBA) has already implemented this new billing structure in line with NCC directives, starting June 3, 2025. UBA customers will also be notified about the deduction from their mobile balance, with the option to opt-out of USSD banking services at any time. The relevance of USSD services to users is highlighted by its availability without requiring an internet connection.
The introduction of the new fee structure for USSD transactions reflects the banks' responsible measures to enhance customer interactions and settle debts with telecom operators.
