Guaranty Trust Bank (GTBank) has announced that it will begin deducting the Unstructured Supplementary Service Data (USSD) transaction fee from customers’ airtime balances instead of their bank accounts.
In a notification sent to customers on Wednesday, the bank stated, “Dear Customer, please be informed that effective June 18, the N6.98 USSD fee will be deducted from your airtime balance, no longer from your bank account.”
This adjustment follows a directive from the Nigerian Communications Commission (NCC), which instructed deposit money banks (DMBs) to discontinue the practice of debiting customers’ accounts for USSD transaction fees.
The move is part of ongoing efforts by the NCC and financial regulators to streamline digital transaction charges and improve transparency in customer billing for mobile banking services.