Union Bank Announces New Update on USSD Transactions

Union Bank of Nigeria, a commercial bank which has been in operation since 1917 has announced a new update on the use of its USSD code for transactions by customers.

The bank in an email sent to customers noted that they will now be charged whenever they transfer fund using the *826# USSD code. 

Read the email content in full;

“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 *826#, 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 *826# are exempt from this charge on USSD platforms.

“Our electronic channels and Union Bank cards are available 24/7 for your banking transactions”.

Recall, the Guaranty Trust Bank had earlier sent a similar email to their customers across the county (Nigeria).

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