Nigerian banks have officially begun implementing a revised charge of ₦6 per SMS for transaction alerts, following a recent hike in telecommunications tariffs approved by the Federal Government. The new fee, which took effect from May 1, 2025, marks a 50% increase from the previous ₦4 per message rate.
The upward review comes in response to changes in SMS delivery rates by telecom service providers, which directly impact how banks communicate with their customers via short messaging services. Many banks, including Guaranty Trust Bank (GTBank), have notified their customers of the change through direct emails.
In its message, GTBank emphasized that SMS alerts remain a critical part of account monitoring and fraud prevention. The bank explained that customers who prefer not to receive SMS notifications can choose alternative alert channels, such as email, by updating their preferences through the bank’s online platform.
It was also noted that SMS alerts sent to international phone numbers may incur additional charges due to global telecom rates.
This increase has sparked concern among some customers who feel overburdened by accumulating service charges. However, industry analysts suggest that the adjustment is inevitable as banks rely on external telecom providers to deliver timely and secure transaction alerts.
As cost-of-service delivery rises across various sectors, customers are encouraged to review their alert settings and consider less costly options where available. Still, financial experts warn that completely disabling SMS alerts may compromise real-time visibility into account activities and increase vulnerability to fraud.
With this development, banks continue to walk a fine line between ensuring customer convenience and maintaining profitability amid rising operational costs.
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