Each (Unstructured Supplementary Service Data) USSD transaction being done by bank account holders will amount to paying N6.98 to individual mobile network providers.
In an email message sent to their customers, all the major banks explained that henceforth, when you access any banking service 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 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,” the banks announced.
They, however, noted that Airtime and Data purchases via USSD are exempt from the N6.98 charge.