Unity bank4/8/2023 ![]() ![]() ![]() All you need is a working mobile phone and you’re good to go. No Internet Needed: Unlike internet banking and mobile banking which means additional costs on internet fees, USSD banking provides a no-cost means of enjoying banking services on your mobile phone.Unlimited Access to Financial Services: Whether it is to pay bills, send money, or check your account balance, you can do all that and many more with USSD banking.You don’t need to queue up at any bank to carry out transactions on your account, thereby, helping you save time for other important activities. No Physical Bank Stress: Asides from periodic maintenance which may lead to service downtimes, USSD banking saves you stress and time.You also do not need long paperwork or minimum balance to create a bank account. You can open an account with USSD banking without hassles, so long as your mobile phone is connected to your network provider. Made-easy Account Opening: USSD banking offers convenience and comfort at little or no extra charges.Below are some of the benefits of USSD banking: Nonetheless, while this mode of mobile banking may have its shortcomings, USSD banking is unarguably beneficial to the user and bank as well. It is also not advisable to store your PIN on your mobile phone or use a PIN that can be easily guessed, i.e, date of birth, house number, etc. Therefore, you have to be careful with your card, personal details, and mobile phone at all times. However, just like every other security breach, your PIN can be compromised or changed if the person gets hold of your ATM card or other personal details. This PIN would also serve as a shield to prevent impersonators or fraudsters from accessing your account. You would also need to set up a 4 or 5-digit transaction PIN to authorize all transactions. For most banks, you must have registered for a new account, or have an old bank account with them, before you can access those financial services. To use the USSD code for any bank transaction, you would need to activate the code on your mobile phone, using your choice phone number. The replies then come in a pop-up (Screen prompt) with numbered menus and they're ‘tied” service options to guide the user to the services that they need. To access USSD banking, a USSD shortcode is used to create a 2-way communication between the bank and the customer. That said, let’s find out how the USSD codes work. Thereby, creating room for more people to access financial services on the go without the hassles of using the internet. Banks in Nigeria are not left out in the USSD hurdle as most traditional and digital banks have adopted personalized USSD codes to aid seamless financial services at all times. Moreover, these customers make up the majority of the market (bank users) in developing countries, making it an invaluable resource for banks in those areas. What makes USSD particularly appealing for financial services is its inclusivity - it reaches customers with older phones, non-smartphones, and those who don't have access to the internet through their cell service provider. USSD banking is a safe, convenient, and cost-effective means of accessing financial services on your phone without the use of an internet connection. USSD banking is an SMS-based mobile banking service, where a USSD shortcode is used to access financial services like transfers, bill payments, airtime recharges, etc. It was developed by the GSM Association, the trade organization behind most of the world's cell phone standards. The acronym USSD stands for "unstructured supplementary service data," and it's a technology that has been around since the early '90s. What is USSD Banking and How Does It Work? This article answers the question “What is USSD banking and how does it work, including its benefits, and the list of Nigerian banks’ USSD transfer codes for your convenience. People can now shop, pay bills, get help and even send money online using special number codes, without the need for internet connections. The USSD banking has become a go-to option for mobile payments, especially for people in rural settlements or just anyone who is out of internet connection but needs to make payments online. One of such trends is the use of the USSD code (USSD banking). ![]() From mobile bank apps to virtual banking, down to mobile money services, there are just a whole lot of trends to aid seamless mobile payments across the globe. Online payments have evolved over the years to become the order of the day, as more people are choosing e-payments over traditional bank deposits and withdrawals. ![]()
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