Diamond bank dey charge #10 for checking balance

Parablesonmarble:
Nigeria is simply not ripe for the cashless policy forced on the populace. Inflation rate is high and making legit money in Nigeria doesn't come easy. Now having the hard earned money being taken from our hands again in the name of different taxes, duties, dues and miscellaneous charges will eventually lead to wahala. This is a straight fight between Telcos and banks. They've tried shifting the said fees on to final consumers, it didn't work but you can be sure they'll try again in another form. Let it be known to greedy telcos and banks that Nigerians are tired of this nonsense. Let them discontinue the service once and for all, we'll find a way of adapting. Don't kill us with burdens just to enrich your own pockets.

You folks are so quick to adjudge that Nigeria is not yet ripe for this and that which is either wrong to say or insecurities and fear playing out
if i may go by your cliche, a lot of countries that doesn't have the size of our GDP implemented this successfully which begs the question. Are they more riper than we

Whatever you pple do
Nothing must happen to my 1k in ecobank account o

Please do. My mum lost 200k after her phone was stolen. USSD is an acident technology with abubdant loopholes.

In Trump's voice** I'm gonna build a mighty wall and Mexico is gonna pay for it. LMAO

Each transaction bank charges, they should share the charges with the telecom operators. Greedy Nigerian banks. In those days, saving accounts owners get interest but this days bank keep cutting your money.

Are the telecommunication companies not being paid anything at all for USSD? They cannot be forced to provide USSD for free.

mechanics:
There are ways to do transactions, if they disconnect the service, mobile app is available, so the bank has nothing to loose but I believe the banks should negotiate with the Telecom operators.

...mobile app? for only those who have smartphones and data inside.
What about all those guys who keep on losing their smartphones, or
those that can't be bothered using smart phones (wasting money on it and entering into the slavery of buying data everytime)
Or those that just don't know how to use smartphones and are very OK with simple phones?

uuzba:

...mobile app? for only those who have smartphones and data inside.
What about all those guys who keep on losing their smartphones, or
those that can't be bothered using smart phones (wasting money on it and entering into the slavery of buying data everytime)
Or those that just don't know how to use smartphones and are very OK with simple phones?

Yes, I understand your point, that's why I said the banks should still negotiate with them.

Hi Guys,

Guess what? Ecobank's USSD session is absolutely free. Yes, FREE!!!

To confirm, dial *326# and follow the prompts to open an Xpress Account and transact on it. The Xpress Account is a digital account that u can open just from ur phone. Ur phone number becomes ur account number, without the first zero, e.g 803XXXXXXX.

It can be funded from other accounts as well as carry out transactions from it (e.g transfers, pay bills, buy airtime, etc) using USSD or Ecobank's Mobile App.

Please before arguing, try this first.

Thanks.

Can you imagine that my bank charge me 10naira for checking my balance through ussd code and they fail to give the telco a cut out of this 10naira.

Nigerians are been ripped off from left to right, up and down....

Is that the reason Glo has not been opening my First Bank account since morning?

abbasajao:

Do banks really charging for it? Pls I need to know oo

Yes some still do.
Polaris bank charged my mum, I asked them on twitter, it was first denied that they don't, claiming it was for balance check, when I gave evidence, they then accepted that they charged for it.
I asked them why and is it a regulatory charges or just their bank because I have no such experience with other banks, the twitter handler refused to answer.

Arizonaguy:
You folks are so quick to adjudge that Nigeria is not yet ripe for this and that which is either wrong to say or insecurities and fear playing out
if i may go by your cliche, a lot of countries that doesn't have the size of our GDP implemented this successfully which begs the question. Are they more riper than we

I respect your argument. You write like a reasonable person from a sane clime but please, check these countries you talking about. They have structures and strong institutions in place. Nigeria might be big with high GDP and stronger economy but its obvious to all and sundry that these things are not built on rock solid foundations. If we can find a way of building strong institutions rather than strong individuals and allow these institutions dictate according to the laws of Economics and peculiarity of our nation, then we are 'riper' but if we are still about personal aggrandizement in almost all we do, then we are way off tangent. Even, Buhari that is trying his best possible to raise strong institutions by implementing TSA, Integrated Pay Structure and other innovative stuff is still far off because as long as we still have prisoners of conscience in this country that are granted bail and not released, then he is trying to undermine the Judiciary as an institution. Show me a strong country in this world that is not built on strict adherence to rules and regulations as stipulated by the constitution and interpreted by the Judiciary. Finally, I'm not an Economist, Public Administrator or a Financial Manager but as a commoner, I know bills and taxes are meant to be paid but these excessive taxes, duties, levies and charges introduced all at once with little social benefit to the effect is bearing heavily on me. It is not until I attempt suicide that you should understand that these things are really depressing.

hmm

grossintel:
So you mean this service was supposed to be free, and banks charge for it. Who is scamming who in this country

access bank don't charge at all

BabaO2:
What links that man is talking about ?
USSD is for service codes delivery and should be FREE.
Service CODE is meant for recharging and enquiry making only.
Greediness of Nigerians have set in again just to exploit the masses at any slight opportunities.
I don't blame them, but when NCC will not employ and engage people that have clear understanding of the technology

Oga, people are using banks USSD codes for other things ie Bill's payment, transfers etc

So, who should bear the cost? Telcos or Customers if you want it to be free?

We are not talking about checking your Airtime or data balance here. Those are VAS from Telcos.

Anyway, you can use your bank app.

pcicero:


Oga, people are using banks USSD codes for other things ie Bill's payment, transfers etc

So, who should bear the cost? Telcos or Customers if you want it to be free?

We are not talking about checking your Airtime or data balance here. Those are VAS from Telcos.

Anyway, you can use your bank app.

That is why it is called service codes delivery platform, it is a platform to enhance your services. Ussd was never designed to be charged.

gabbasin:
First Bank use to charge N20 per ussd transaction even for checking your balance

Tried it once. Never tried it again... something I can get online for free.

Ayt27:
Why then does the bank charge for the transaction on USSD? What exactly is the charge for?

The banks are being greedy(As banks usually are) they charge N20 for interbank and N52 for intra-bank transactions and they still don't want to cut the telcos in on it.

The telecos should cut the service and insist the banks share the profits with them.

Those ones are strictly bank charges.
Every damn second you use on ussd, you're being charged at a particular rate. First bank I know charge 4 naira for every 20 seconds

gabbasin:
First Bank use to charge N20 per ussd transaction even for checking your balance

I think it's 4 naira for every 20 seconds.

The telecom companies should fvcking disconnect these commercial banks. This is a case of monkey dey work baboon dey chop! And to hell with these telecom companies that want customers to bear the cost of all this sh!t !

Nigerian banks are rogues. You charge customers for a free-of-charge service and you think that is smartness? The telcos' point is banks must stop milking a cow they don't feed. Full stop. If they must charge for ussd, they must pay the telcos who own the service.

grossintel:
So you mean this service was supposed to be free, and banks charge for it. Who is scamming who in this country

That's exactly the problem. Banks have been reaping where they never sowed and they were reaping in Billions hence the Telcos need a bite of the action after all they provide the platform

Our Banking is a hinderance to our growth and development, Govt need to do something with this corp of bankers else we go no where.

Ayt27:
Why then does the bank charge for the transaction on USSD? What exactly is the charge for?

The banks are being greedy(As banks usually are) they charge N20 for interbank and N52 for intra-bank transactions and they still don't want to cut the telcos in on it.

The telecos should cut the service and insist the banks share the profits with them.

I thought those are stamp duties that goes straight to the federal government coffers?

Parablesonmarble:


I respect your argument. You write like a reasonable person from a sane clime but please, check these countries you talking about. They have structures and strong institutions in place. Nigeria might be big with high GDP and stronger economy but its obvious to all and sundry that these things are not built on rock solid foundations. If we can find a way of building strong institutions rather than strong individuals and allow these institutions dictate according to the laws of Economics and peculiarity of our nation, then we are 'riper' but if we are still about personal aggrandizement in almost all we do, then we are way off tangent. Even, Buhari that is trying his best possible to raise strong institutions by implementing TSA, Integrated Pay Structure and other innovative stuff is still far off because as long as we still have prisoners of conscience in this country that are granted bail and not released, then he is trying to undermine the Judiciary as an institution. Show me a strong country in this world that is not built on strict adherence to rules and regulations as stipulated by the constitution and interpreted by the Judiciary. Finally, I'm not an Economist, Public Administrator or a Financial Manager but as a commoner, I know bills and taxes are meant to be paid but these excessive taxes, duties, levies and charges introduced all at once with little social benefit to the effect is bearing heavily on me. It is not until I attempt suicide that you should understand that these things are really depressing.

i understand and agree with your sentiment and i'm not in support of more taxes on the already very vulnerable populace. What i do disagree with is the "we are not yet ripe" cliche
i sincerely appreciate your thought bro

Arizonaguy:
i understand and agree with your sentiment and i'm not in support of more taxes on the already very vulnerable populace. What i do disagree with is the "we are not yet ripe" cliche
i sincerely appreciate your thought bro

I appreciate your understanding. I agree I was very sentimental but I just couldn't help it. I live in one of the Lagos Mainland suburb and every evening I look at the faces of the folks around, I see a little bit of hope they had in the morning has been blown away by the heavy, humid breeze of the day. I see them trudging towards grave with hopes completely diminished, in a society where the middle class is wiped out and we have only the haves and have-nots. Government policies do not affect the two classes the same way. Its real tough for those at the lower rung of the ladder, my brother, I tell you, it is rough. Once more, I appreciate your understanding.