Nigerian banks will begin charging N6 for every SMS transaction alert, citing the recent hike in telecommunications service rates as the cause of the increase.
The new charge, which is a 50% rise from the previous N4 per message, follows a green light from the Federal Government that allowed telecom providers to raise their tariff. Banks, in turn, are adjusting their service charges to reflect the change, despite the potential burden on users.
In an email sent to its customers that was seen by our correspondent, Guaranty Trust Bank (GTBank) wrote:
“Dear Valued Customer, please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message. This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers.”
The bank emphasized the importance of SMS alerts in helping customers monitor account activity and prevent fraud, while also offering an opt-out option for those who prefer not to receive alerts via SMS. Customers are advised to update their preferences on the bank’s website. GTBank also noted that SMS alerts sent to international numbers would attract higher fees.
