After the announcement of demonetization by PM Modi, need for going cashless and digital has increased. Today, there are various methods available for transacting cashless such as Credit/ Debit Cards, e-wallets, Prepaid Cards, UPI app besides the traditional banking methods, cheque/ DD/ NEFT/ RTGS etc.
One of the option is sending money through USSD. Best of the USSD is that it doesn’t require a smartphone and internet connection. USSD can be used on any basic phone. USSD stands for Unstructured Supplementary Service Data which is built by National Unified USSD Platform (NUUP).
In this article we have explained, how to use USSD and transfer money through USSD.
Once you enter Bank short name or IFSC, it will display 7 option on the next screen, which will answer your following questions.
How to transfer money through USSD? The process is given here:
Daily transaction limit for USSD banking
USSD payment method can be used for sending money from Re 1, to Rs 5,000 per transaction.
Charges for USSD transactions
Rs 0.50 per transaction are charged for USSD transactions, which are added in mobile bill, which are waived off till December 31.
Using USSD is easy but sometimes, it is irritating, when it throws errors ‘No connection message’ and ‘External application down’.
Share your experience of using USSD in the comment box below.
As per AIBOC Circular dated 13.09.2023, the officers’ associations today, submitted a Supplementary Charter of…
Wage revision for bankers is due since November 2022, which is to be finalized through…
DA for Bankers is expected to increase for the quarter May 2023 to July 2023.…
If you're a banker, you know that staying up-to-date on industry trends and best practices…
DA for Bankers is increased for the quarter February 2023 to April 2023. CPI data…
12 Bipartite Settlement for revision of bank employees' salary and service conditions is due from…