USSD banking is a not a new development in traditional banking system.
Over the years, online payments have evolved and become the order of the day as more people choose e-payments over traditional bank deposits and withdrawals.
Various trends aid seamless mobile payments across the globe, including mobile bank apps, virtual banking, and mobile money services.
One of such trends is the use of USSD codes (USSD banking).
USSD banking is an easier option for mobile payments, particularly for people in rural settlements or anyone without internet connectivity but requires to make online payment.
With special number codes, individuals can now shop, pay bills, seek assistance, and even send money online, without relying on internet connections.
USSD Banking: How Does It Work?
The GSM Association, the trade organization behind most of the world’s cell phone standards, developed the acronym USSD, which means for “unstructured supplementary service data.”
This technology has been around since the early nineties.
USSD banking is an SMS-based mobile banking service. This is where a USSD shortcode is used to access financial services like transfers, bill payments, airtime recharges, etc.
This type of banking is a safe, convenient, and cost-effective means of accessing financial services on your phone without the use of an internet connection.
USSD is quite attracting for financial services due to its inclusivity.
It reaches customers with older phones, and those without internet access through their mobile service providers.
These customers constitute the majority of the market in many developing countries, making it a valuable avenue for banks in those regions.
Banks in Nigeria too, have also applied the use of USSD technology.
Most traditional and digital banks now offer personal USSD codes to facilitate seamless financial services at all times.
This approach allows more people to access financial services on the go without the need for internet usage, eliminating unnecessary hassles.
Benefits of USSD Banking
Easy Account Opening
This type of banking provides convenience and comfort with minimal or no extra charges.
You can open an account with USSD banking effortlessly, as long as your mobile phone is connected to your network provider.
Creating a bank account does not require lengthy paperwork or a minimum balance.
No Physical Bank Stress
Apart from periodic maintenance, which may lead to service disruptions, USSD banking reduces stress and saves you a lot of time.
You will not need to queue up at any bank to carry out transactions on your account, thereby allowing you to save time for other personal important activities.
You can even get Credit Facilities And Loans using USSD banking.
Unlimited Access to Financial Services
Let’s say you want s to pay bills, send money, or check your account balance, you can do all that and many more with USSD banking. And at any time you wish.
The most interesting thing about this banking is that you do not need to have internet service.
You only need your mobile phone, which means no additional costs on internet.
List of Nigerian Banks and Their USSD Banking Shortcodes
The table below has a list of different Nigerian banks and their USSD shortcodes. However, to use this codes, just dial it and follow the promptings on your screen.
| 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# |
Other Personalized USSD Banking Service Codes
The following are a list of other bank service codes and what the codes do:
1. Access Bank USSD Codes (*901#)
- Airtime Top-Up for Self: Dial *901*Amount#
- Airtime Top-Up for Others: Dial *901*Amount*Phone Number#
- Deactivate Account: Dial *901*911#
- Pay bills: Dial *901*3#
- Transfer to Other banks: Dial *901*2*AMOUNT*NUBAN Account Number#
- Transfer to Access Account: Dial *901*1*AMOUNT*NUBAN Account Number#
- Check Balance: Dial *901*00#
- Account Opening/PIN Change/Registration: Dial *901*0#
2. ALAT Bank USSD Codes (*945#)
- Airtime Top-Up for Others: Dial *945*phone Number*Amount#
- Airtime Top-Up for Self: Dial *945*Amount#
- Check balance: Dial *945*0#
- Transfer to ALAT Account: Dial *945*Account Number*Amount#
- Transfer to Other banks: Dial *945*Account Number*Amount#
3. Ecobank USSD Codes (*326#)
- Airtime Top-Up for Others: Dial *326*Amount*PhoneNumber#
- Airtime Top-Up for Self: Dial *326*Amount#
- Check balance: Dial *326*0#
- Pay bills: Dial *326#
- Transfer to Ecobank Account: Dial *326#
- Transfer to Other banks: Dial *326#
4. Fidelity Bank USSD Codes (*770#)
- Airtime Top-Up for Others: Dial *770*PHONE*AMOUNT#
- Airtime Top-Up for Self: Dial *770*AMOUNT#
- ATM cardless withdrawal: Dial *770*8*AMOUNT#
- Block Account from USSD Banking: Dial *770*08012345678#
- Block Card: Dial *770*911#
- Block Phone from USSD Banking: Dial *770*911*08012345678#
- Change PIN: Dial *770*00#
- Check balance: Dial *770*0#
- Choose SMS and Email Alert: Dial *770*2#
- Pay bills: Dial *770#
- Transfer to Fidelity Account: Dial *770*ACCOUNT*AMOUNT#
- Transfer to Other banks: Dial *770*ACCOUNT*AMOUNT#
- Update BVN: Dial *770*02#
5. FCMB USSD Codes (*329#)
- Airtime Top-Up for Others: Dial *329*Amount*Mobile number#
- Airtime Top-Up for Self: Dial *329*Amount#
- Check balance: Dial *329*00#
- Pay bills (DSTv/GOTv): Dial *329*2*Amount*Smartcard Number#
- Pay Electricity Bill: Dial *329*3*Amount*Meter No# or *329*3*Amount*AccountID#
- Reset PIN: Dial *329*0#
- Transfer to FCMB Account/Other banks: Dial *329*Amount*Account number#
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6. First Bank USSD Codes (*894#)
- Account Opening: Dial *8940#
- Airtime Recharge for Others: Dial *894*Amount*Phone Number#
- Airtime Recharge for Self: Dial *894*Amount#
- Check Balance: Dial *894*00#
- Deactivate Your Mobile Number: Dial *894*911#
- Mini-Statement: Dial *894*Account Number#
- Register for USSD Banking: Dial *894*0#
- Transfer to First Bank/Other bank Accounts: Dial *894*Amount*Account Number#
7. GTBank USSD Codes (*737#)
- Account Opening: Dial *7370#
- Airtime Top-Up for Others: Dial *737*Amount*Recipient’s number#
- Airtime Top-Up for Self: Dial *737*amount#
- Check Account Number/Check Balance/BVN: Dial *7376*1#
- Create PIN: Dial *7375#
- Data Top-Up: Dial *7374#
- Make Enquiries: Dial *7376#
- Reactivate Account: Dial *73711#
- Transfer to GTBank Account: Dial *7371*Amount*NUBAN Account Number#
- Transfer to Other banks: Dial *7372*Amount*NUBAN Account Number#
8. Heritage Bank USSD Codes (*745#)
- Activate Debit Card: Dial *71119*123#
- Change your default Top-up Account: Dial *7111AcctNo#
- Check account balance: Dial *711100#
- Bet9ja Wallet funding: Dial *745222*Bet9jaUserID*Amount#
- Block Your Account from any phone: Dial *74511#
- Change USSD PIN: Dial *74500#
- Transfer to a Heritage Bank Account: Dial 7451AmountAccountNumber#
- Transfer to Other Banks: Dial *7452*Amount*AccountNumber#
- LCC Payment: Dial 745000*522+etagNo+100#
- Pay with USSD (on POS/Web): Dial *745000*RefCode#
- USSD Registration With ATM Card: Dial *745*AccountNumber*Last6DigitOfCard#
- USSD Registration Without ATM Card: Dial *745AccountNumber#
9. Keystone Bank USSD Codes (*7111#)
- Activate Debit Card: Dial *71119*123#
- Change your default Top-up Account: Dial *7111*AcctNo#
- Check account balance: Dial *711100#
- Mobile Data Top-Up: Dial *71115#
- Panic Code (In case of theft/password compromise): Dial *7111*911#
- Pay bills: Dial *7111*2#
- Recharge for others: Dial *7111*Amount*Phone Number#
- Recharge your phone: Dial *7111*Amount#
- Send Money: Dial *7111*Amount*Nuban Account Number#
- USSD Registration: Dial *71110#
Conclusion
We all know by now that, USSD banking offers a simple and cost-effective solution to handle finances.
This is because it comes without the hassles of traditional banking or intermediaries. With these codes, you can easily perform various banking tasks directly from your mobile phones.
Services including transfers, balance inquiries, and even loan applications are easy through the use of these short codes.
The rapid adoption of USSD banking by numerous banks, financial institutions, Government establishments, and healthcare offices in recent years signifies its increasing popularity, with further growth in the future.
While USSD banking has certain limitations, it remains a safe, secure, and convenient platform.
It also serves as an excellent means to save both money and time, providing effortless access to bank accounts whenever needed.
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