FirstBank introduces USSD transfers service

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First Bank of Nigeria Limited has again asserted its leadership in mobile financial offerings with the introduction of USSD transfers.

The Bank has been offering mobile payment services to both banked and unbanked customers through its Unstructured Supplementary Service Data (USSD) – *894#.

The USSD is a protocol used by GSM cellular telephones to communicate with the service provider’s computers.

USSD stands for Unstructured Supplementary Services Data and the USSD Gateway is based upon the ability of the delivery agent or the source to send and receive USSD messages.

Unlike similar services (SMS and MMS), which are store and forward based, USSD establishes a real time session between mobile handset and application handling the service.

FirstBank has improved its USSD “*894#” access channel to become quicker and more robust with the incorporation of various banking services into USSD codes.

To transfer money, simply dial *894# and select 1; dial *894# and select 2 to withdraw money, dial *894# and select 3 to make purchase; dial *894# and select 4 to pay bills; dial *894# and select 5 to buy airtime; and dial *894# and select 7 to manage account.

According to a statement by Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, the Bank would continue to create customer friendly products to dominate the mobile money market, drive financial inclusion, while enhancing banking convenience and security for its customers.

In addition to the quick service codes, FirstBank has a large bouquet of services available on the USSD platforms which include funds transfers to mobile wallet through telephone numbers, FirstBank accounts, other Bank accounts and mobile money operators; withdrawals from agents locations.

Others are FirstBank ATMs and the Bank; purchase of goods and services at merchant locations across the country; Bill payments such as DSTV, PHCN, Water Board amongst others; purchase of airtime from MTN, Airtel, Globacom, and Etisalat; check balance; check and print mini statement.

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