Nigerian banks will today begin implementing new charges for SMS transaction alerts, raising the fee from N4 to N6 per message.
This development follows a recent increase in telecommunications tariffs approved by the Federal Government, prompting service providers to adjust their rates and pushing banks to pass the added cost to customers.
According to industry sources, the new N6 charge represents a 50 percent hike in SMS fees, up from the previous N4 per alert. Several commercial banks have notified their customers via emails and digital platforms ahead of the change.
Guaranty Trust Bank Limited (GTBank), in an email titled “Increase in SMS Transaction Alert Fee”, informed its customers:
“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 these alerts, noting:
“Kindly note that transaction alerts are important and help you keep track and stay in control of activities on your account.”
Customers who wish to opt out of SMS alerts have been advised to modify their notification preferences.
“If you prefer not to receive transaction alerts via SMS, you can update your preferences by completing the transaction alert form on our website,” GTBank stated.
The bank further disclosed that:
“SMS alerts to international phone numbers are subject to higher charges.”
Other banks are expected to follow suit, implementing similar adjustments in line with the revised telecom tariff regime. Financial analysts warn that while the increase may seem marginal, it could add up significantly for high-volume transaction customers, especially in a struggling economy.
