Starting today, banks across the country will begin charging customers N6 for each SMS alert related to transactions and other communications.
This development follows an increase in SMS service costs by telecommunications providers, which was approved by the Federal Government.
The new fee represents a 50% hike from the previous rate of N4 per message.
Several banks have already informed their customers of this adjustment via email notifications.
For example, Guaranty Trust Bank Limited sent a message titled “Increase in SMS Transaction Alert Fee,” stating:
“Dear Valued Customer, please be advised that beginning Thursday, May 1, 2025, the fee for SMS transaction alerts will rise from N4 to N6 per message. This change results from the recent adjustment in telecom service rates as announced by providers.”
The email emphasized the importance of transaction alerts in helping customers monitor and manage their account activities. It also noted that customers who wish to stop receiving SMS alerts can update their notification preferences by completing a form available on the bank’s website. Additionally, SMS alerts sent to international numbers may incur higher charges.
