Banks across Nigeria have started charging customers N6 for each SMS alert they receive, marking a 50% increase from the previous N4 fee. The change takes effect today, May 1, 2025.
The increase comes after telecommunications companies raised their service rates, a move approved by the Federal Government.
As a result, banks say they have adjusted SMS fees to reflect the higher cost of sending messages.
Several banks, including Guaranty Trust Bank (GTBank), have notified customers via email about the change. In a message titled “Increase in SMS Transaction Alert Fee,” GTBank stated:
“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.”
The bank emphasized the importance of SMS alerts for monitoring account activity and advised customers who prefer not to receive SMS alerts to update their preferences on the bank’s website. They also noted that SMS alerts sent to international phone numbers may attract even higher charges.
This move is expected to affect millions of bank customers who rely on SMS notifications to track their financial transactions.