However,
experts have said that excessive charges by banks could pose a threat to
financial inclusion.
According to
them, it will increase cash transactions because many bank customers would
avoid using the USSD for transactions and could also discourage the unbanked
segment of the population because they would not like to pay such charges over
their little deposits.
A message
from some of the banks, including Guaranty Trust Bank, First Bank and Fidelity
Bank on ‘Update on USSD transactions’ stated, “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.
“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 banks
urged the customers to make use of other electronic transactions available in
the banks to avoid paying the fees.
A former
President, Association of National Accountants of Nigeria, Dr. Sam Nzekwe, said
too many changes by banks were unfriendly to financial inclusion drive,
especially to the un-banked Nigerians.
He said
people would prefer to walk into the banking hall to make payments.
“There are
many charges that the banks charge the customers, even if you don’t do any
transaction. Some of these informal sectors will start running away because
they cannot understand the many charges. That is why many of the informal
sector still do their transactions by cash.
“What an
average customer wants is show me why you should charge me. But you are
charging me for many things and at the end of the month you will still charge
me again.”
He said banks
should be completely open to their customers in their transactions.
A fashion
designer, Balogun, said, “I have bank account but I prefer to go to bank and do
my things. How much do I have in my account that they want to be deducting
charges anyhow?”
Source: punchng.com
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