USSD: Banks Ban MTN From Banking Agency
Commercial banks have disconnected MTN customers from banking channels including the Unstructured Supplementary Service Data and banking apps.
MTN customers complained on Friday about being unable to recharge their MTN lines using USSD and other banking channels like the bank apps.
Customers were also unable to do banking transactions on MTN lines through USSD.
According to a source, this was not the doing of MTN but the banks who had refused to give any formal communication prior to the disconnection.
The source said, “Please note that MTN didn’t cut off customers and has no hand in this. This is strictly the banks acting on their own.
“We woke up this morning to see that MTN customers were cut off from USSD services overnight. This has come as a surprise as there was no formal communication from the banks to their customers prior to their taking this action.”
The source disclosed that MTN had reduced the banks’ commission from an average of 3.5 per cent to 2.5 per cent which predicated the actions of the banks.
According to the source, the reduction is standard because the volumes compensate for the reduction, adding that the contract with convenience channel partners and aggregators through which they were indirectly connected to the banks allowed this.