Bank Customers to Pay N6 for SMS Transaction Alerts Starting Today

Starting today, bank customers will be required to pay N6 for each SMS transaction alert. This new charge follows an increase in telecommunications rates by service providers, which was recently approved by the Federal Government. The cost of SMS alerts has risen by 50%, from N4 per message to N6.

Banks have begun notifying their customers of the change via email. For example, Guaranty Trust Bank (GTB) sent an email titled “Increase in SMS Transaction Alert Fee” to inform its clients that, effective May 1, 2025, the SMS transaction alert fee would rise from N4 to N6 per message. The bank explained that the adjustment was necessary due to the increase in telecom rates communicated by the service providers.

In the email, GTB reassured customers of the importance of transaction alerts for tracking and managing account activities. The bank also provided an option for customers to stop receiving SMS alerts by updating their preferences on the bank’s website. Additionally, it was noted that SMS alerts to international phone numbers would be subject to higher charges.