Wed. Mar 22nd, 2023
USSD Banking- All About USSD Banking

What is USSD Banking?

USSD Banking, Also known as USSD Mobile Banking is the term that is used when we get Banking/ Financial services through predefined USSD Codes. It allows users to access the banking service of their bank without using the internet, bank app, or Smartphones.

Read Also: What is USSD Codes?

What is USSD in the banking system?

Unstructured Supplementary Service Data(USSD) is a Communication protocol, used by Bank to transmit information or Services through a GSM network on a user’s basic phone. This technology safe user’s time & money which they spent on data recharge or physical bank visits. Also, it is 7 times faster than an SMS.

USSD Banking in India.

Bank image

In India, “*99#” is the USSD code that has been Reserved for the use of Banking Services. With the help of this Code, a user can do a fund transfer, check account balance, generating bank statements, among other uses.

To offer the Service to the whole nation, the service is available in 12 languages, including English, Hindi, Tamil, Bengali, Kannada, Gujarati, etc. It is a substitute option for UPI for those who have non-internet based mobile devices

Note: Not All Bank provides USSD Mobile Banking, To know if your bank is offering the service or not, log on to the National Payments Corporation of India (NPCI) website. Currently, In India, only two TSPs were offering this service i.e. MTNL & BSNL.

Read Also: List of All Nigerian Bank’s USSD Code

Below are the Services Currently offered through *99# in India

Balance EnquiryActive
Set UPI PINActive
Change UPI PINActive
Sending Money using UPI IDActive
Sending Money using Phone number.Active
Sending Money using Account No. + IFSCActive
Requesting Money using UPI ID / Mobile No.Active
MIni Statement of Last 5 transactionsActive

Is USSD banking safe?

Yes, they are safe but not properly due to the following things.

  1. Messages over USSD channels are not encrypted.
  2. Each financial service provider uses its technology, meaning there is no universal standard for all channels.
  3. Lost mobile phone.
  4. Reveal your PIN or BVN to a third party and much more.

Now let’s talk about, How Can you do safe USSD Banking?

  1. Your phone should be charged to avoid loss of power during the transaction.
  2. Don’t use credentials or important information in Public.
  3. Double Check the Receiver Account number when paying bills or transferring funds, etc.
  4. Must Check the Transaction Successful Message from the bank Side.
  5. Take immediate action in case of any suspicious Activity, Contact Your bank asap.
  6. Last but not least, be aware and alert.

How does USSD Banking work?

  1. Banking users must have a phone number linked with their Bank Account.
  2. Open the Dial pad and dial *99#.
  3. An interactive menu containing the list of services will display. In India, As of now only a few services are provided such as balance inquiry, Sending and Receiving funds from interbank account to account, Changing UPI Pin, few more.
  4. Select the Service You want, You will get the result on Display.

Features & Benefits of Using USSD *99# Service.

  • 24*7 Service
  • Work on Every GSM handset
  • No need for a data connection or a smartphone.
  • More reliable and Less cost-effective.
  • Highly secure interface.
  • Easy to use.


Does the Customer require to Register Mobile Number to avail of *99# Service?

Yes, It is required to register your mobile number with your bank to avail of the USSD Banking Services.

Is there any transaction limit set for the *99# service?

As per the RBI Guidelines, The Financial Transaction limit is Rs. 5000 per transaction done by using *99# services.

What is MMID?

MMID stands for Mobile Money Identifier. It is a 7-digit number allotted by the bank to their customer for getting the IMPS Service. For getting the MMID, your number must be registered with the bank.

Are CDMA handsets Can avail for USSD Banking Service?

No, *99# service is only available on GSM handsets.

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By Vijay

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