Two of Nigeria’s leading commercial banks, Guaranty Trust Bank (GTBank) and Ecobank Nigeria, have announced an increase in their SMS transaction alert charges to ₦6 per message, effective Thursday, May 1, 2025.
The revision, communicated to customers on Wednesday, comes as a response to recently adjusted telecom tariffs by service providers, which have affected the cost of delivering SMS-based services.
GTBank, in its notice, emphasized that the new fee applies to all customers who receive transaction alerts via SMS. The bank cited rising operational expenses in both the banking and telecommunications sectors, driven by inflation and regulatory changes, as part of the motivation for the change.
“Dear Valued Customer,” the notice stated, “Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from ₦4 to ₦6 per message.”
“This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers.”
The bank also reminded customers that SMS alerts are vital for tracking and managing account activity, and provided an option to opt out of SMS alerts by updating their preferences online.
Similarly, Ecobank Nigeria confirmed that its SMS alert charge will also rise to ₦6 per message from the current ₦5, effective the same date.
The adjustment comes amid a broader trend of service fee reviews across the financial sector as institutions respond to mounting economic pressures.
