Effective today, banks will begin charging N6 for each SMS transaction alert and other short message communications to their customers. This increase follows a 50% hike in telecommunications rates approved by the Federal Government, raising the cost from N4 to N6 per message. Many banks have notified their customers of the new SMS charges via email.
For example, an email from Guaranty Trust Bank Limited titled “Increase in SMS Transaction Alert Fee” stated:
“Dear Valued Customer,
Please be advised that starting Thursday, May 1, 2025, the SMS transaction alert fee will rise from N4 to N6 per message. This adjustment is due to recent increases in telecom rates communicated by the service providers.
Transaction alerts are important as they help you monitor and manage activities on your account. If you prefer not to receive SMS alerts for transactions, you may update your preferences by completing the transaction alert form available on our website.
Please note that SMS alerts sent to international phone numbers may incur higher charges.”