Banks increase SMS transaction alert fee nationwide

Banks increase SMS transaction alert fee nationwide

Beginning tomorrow, bank customers across Nigeria will pay N6 for every SMS transaction alert an increase from the previous N4 charge.

The new rate follows a 50% hike in SMS tariffs by telecommunications providers, which was recently approved by the federal government. As a result, banks have adjusted their charges accordingly and notified customers via email and other communication channels.

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An email from Guaranty Trust Bank Limited with the heading “Increase in SMS Transaction Alert Fee” read: “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.

“Kindly note that transaction alerts are important and help you keep track and stay in control of activities on your account.

“SMS alerts to international phone numbers are subject to higher charges.”

 

Banks increase SMS transaction alert fee nationwide