Do you want to know Nigeria bank USSD codes for money transfer, withdrawal, to open a bank account, and check balance?
If YES, then this is the only post to read today.
USSD (Unstructured Supplementary Service Data) is a session-based text communication protocol available on every GSM-enabled mobile device.
It is a session-based text communication without a store-and-forward mechanism (unlike SMS) that is practical for interactive communication, such as banking or education.
USSD messages can have up to 160 alphanumeric characters and the time it takes from a request to a response is 2 seconds while it takes 6 seconds for an SMS to reach a mobile phone.
While SMS is a store and forward technology, USSD texts and interactions are not stored on the mobile phone.
SMS content remains stored in the mobile phone memory.
Some examples of service usage are airtime top-ups, “please call me” services, balance checking and mini statements delivery.
Nigerian Banks USSD Codes
Almost all banks in Nigeria support USSD codes.
These USSD codes can open a bank account, send money, pay bills, apply for loans, buy goods, make cardless withdrawals from an ATM, check account balance and lots more.
As long as there is cellular network from your service provider, you can perform transactions on your device without having to step foot in a banking hall.
How do USSD codes work?
USSDs are sometimes referred to as “quick codes” or “feature codes”.
They are communication protocols that allow customers to send queries or requests and receive solutions simply by dialing a short code that begins with an asterisk (*) and ends with a hash (#) symbol.
Some examples of USSDs include GTBank’s *737#, Zenith Bank’s *996#.
Practical uses of USSDs in the finance space include the transfer of funds, airtime top-ups, account balance checks, BVN checks, etc.
USSDs for financial transactions are majorly regulated by the Central Bank of Nigeria (CBN) Regulatory Framework for the Use of Unstructured Supplementary Service Data (USSD) for Financial Services in Nigeria, 2018; and the Nigerian Communications Commission (NCC) Guidelines on Short Code Operation in Nigeria, 2011.
Financial institutions who wish to provide USSD services to their customers are required to get a letter of no objection or introduction from CBN before being considered for issuing the USSD short codes by the NCC.
Benefits of USSD Banking
- Does not require an internet connection or data to work.
- Reduces operating costs when it works as a self-service application for your customers.
- Enhanced customer satisfaction when you give them the ability to serve themselves.
- It works with just about every mobile phone.
- Works globally.
- Intuitive menu with real-time interactivity.
- Very economical.
- Two-way communication is up to seven times faster than SMS.
- Made-easy account opening.
- No physical bank stress.
- Unlimited access to financial services.
USSD works on just about any mobile phone, whether it’s a cheap or expensive smartphone.
It’s free to use, and cost-effective for businesses.
It does not require data to work, and all it needs to operate is a connection to the GSM (Global System for Mobile Communications) network.
List of All Nigerian Banks USSD Codes
Here is the list of all banks in Nigeria USSD codes:
- Access Bank (*901#)
- ALAT Bank (*945#)
- Ecobank (*326#)
- FCMB ( *329#)
- Fidelity Bank (*770#)
- First Bank (*894#)
- GTBank (*737#)
- Heritage Bank (*745#)
- Keystone Bank (*7111#)
- Polaris Bank (*833#)
- Stanbic IBTC Bank (*909#)
- Sterling Bank (*822#)
- UBA (*919#)
- Union Bank (*826#)
- Unity Bank (*7799#)
- Wema Bank (*945#)
- Zenith Bank (*966#)
How to Use USSD Codes to Perform Bank Transactions in Nigeria
- To use the USSD code of any Nigerian bank to perform transactions though, have an active account with that bank — except you’re trying to open a new account using the USSD code.
- Input the bank’s USSD code into your phone’s dialer and hit the dial/call button.
- If you are a new user, set up a new PIN which you’ll use to approve/verify transactions.
- Follow the prompt displayed on your phone’s display.
Note that the number you’re dialing the code from must be associated with your account in the bank.
If you no longer use the number associated with your bank account, or you have misplaced the SIM card, retrieve the SIM card from your network carrier or contact your bank to change the phone number associated with your account.