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GTBank Announces New Update on USSD Transactions

Guaranty Trust Bank, GTB, has announced a new update as regard the use of its Unstructured Supplementary Service Data (USSD) transactions by customers. 

The company in an email sent to customers on Friday (June 4, 2022) noted customers will now be charged N6.98 whenever they transfer using the USSD. 

The email titled; “IMPORTANT UPDATE ON USSD TRANSACTIONS” reads thus; “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.

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“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”.

The bank however noted there is no additional charges when customers use its app for transactions.

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