Beginning today, Nigerian banks will implement a new charge of N6 per SMS for transaction alerts and other related short message services (SMS) sent to customers. This marks a 50% increase from the previous rate of N4 per message, and follows recent adjustments in telecommunications charges approved by the Federal Government.
The upward review of SMS alert fees comes as telecom operators nationwide increased their service tariffs, citing rising operational costs and regulatory changes. The ripple effect of this change has prompted financial institutions to adjust their own service rates to reflect the higher costs incurred in communicating with customers via SMS.
In anticipation of customer concerns, many banks have issued notices via email and other channels to inform account holders about the development. One such notice from Guaranty Trust Bank (GTBank), titled ‘Increase in SMS Transaction Alert Fee’, explained the reason behind the price hike:
“Dear Valued Customer, Please be informed that effective Thursday, 1 May 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 as a key tool for monitoring account activities and ensuring financial security. However, customers who prefer alternative communication methods are being offered the option to modify their alert preferences. GTBank’s statement added:
“If you prefer not to receive transaction alerts via SMS, you can update your preferences by completing the transaction alert form on our website. SMS alerts to international phone numbers are subject to higher charges.”
While the increased fee may seem marginal on a per-message basis, it could accumulate to a significant amount for customers who carry out frequent transactions, especially those with multiple account notifications daily.
As of now, other major banks are also expected to adopt the same rate, and the adjustment is likely to reflect in account deductions starting immediately. Industry experts advise customers to review their communication preferences and explore alternatives such as email alerts or mobile banking apps to minimize recurring SMS costs.
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