Nigerian banks will from today begin charging customers N6 for each SMS transaction alert, marking a 50% increase from the previous N4 fee a move prompted by the recent hike in telecom service charges approved by the Federal Government.
The upward adjustment, which comes into effect May 1, 2025, has been communicated to customers by several commercial banks, including Guaranty Trust Bank (GTBank), which attributed the hike to increased telecommunications rates by service providers.
In an email titled “Increase in SMS Transaction Alert Fee”, GTBank explained:
“Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message… as communicated by the telecommunication service providers.”
The bank defended the importance of SMS alerts, describing them as critical tools for monitoring account activity and maintaining financial control. However, it also gave customers the option to opt out and switch to alternative notification channels by updating their preferences online.
GTBank also noted that international SMS alerts would attract even higher charges.
Industry insiders say other banks are expected to follow suit, aligning with the revised telecom tariff regime. While the increase may appear modest, analysts warn that frequent bank users may feel the pinch over time, especially amid ongoing economic pressures.
