GTBank Makes Big Move on USSD Fees

Untitled document

GTBank Makes Big Move on USSD Fees

Guaranty Trust Bank (GTBank) has announced a key change in how it charges customers for USSD banking transactions—moving the ₦6.98 service fee from direct bank deductions to airtime charges. The update, effective June 18, aligns GTBank with other major banks following regulatory directives issued by the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN).

In a message sent to customers, GTBank stated:

 “Effective 18 June 2025, the ₦6.98 USSD fee will be deducted from your airtime balance, no longer from your bank account.”

The shift affects all transactions initiated via USSD, including balance checks, transfers, and bill payments. Customers will now need to ensure they have sufficient airtime to complete USSD sessions—failed attempts will still incur charges once a session is initiated.

A Step Toward Resolving Telco–Bank Tensions

This change is more than just a billing update. It marks a major step in resolving long-standing disputes between banks and telecom operators over unpaid USSD service charges—debts said to have run into tens of billions of naira.

Since March 2021, the NCC and CBN have enforced a flat-rate ₦6.98 fee per USSD session to streamline collections and prevent service disruptions. But friction remained as banks resisted full migration to airtime billing. GTBank’s adoption signals progress in regulatory compliance and suggests a push toward closing the chapter on USSD-related conflicts.

While the core banking services remain free beyond existing transfer fees, the cost of USSD usage has now shifted squarely to the end user’s mobile wallet—a move that could subtly alter consumer behavior in an increasingly digital-first financial environment.