Categories: News

Customers Groan As Banks Disconnect MTN From Banking Channels

MTN Customers groaned on Friday as they were also unable to do banking transactions on their lines through the Unstructured Supplementary Service Data (USSD).
It was, however, gathered that commercial banks have disconnected MTN customers from banking channels including the USSD and banking apps.

MTN customers complained on Friday over the inability to recharge their MTN lines using USSD and other banking channels like the bank apps.

Millions of 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.

“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 said.

The source further revealed 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 was 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.

The source added, “The banks wrote back to the aggregators to revert back to the old commission, otherwise, they would block MTN airtime in all their channels.

“The channels were blocked midnight leaving our customers stranded. Interesting that the bank Managing Directors met and quickly took a decision. Subscribers to telecommunications are being denied services by the banks even when they have money in their accounts.”

The source noted that Zenith bank, which was connected directly to MTN and had their earnings at 2.70 per cent, was the only bank that had not blocked the telco.