Nigerian banks will begin charging customers N6 per SMS for transaction alerts and other short message communications starting today, following a 50% increase from the previous rate of N4. The adjustment comes in response to a recent hike in telecommunications rates approved by the Federal Government.
Several banks have notified customers of the new SMS charge via email. Guaranty Trust Bank Limited, for instance, sent an email titled “Increase in SMS Transaction Alert Fee,” stating, “Effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message due to a recent increase in telecom rates as communicated by telecommunication service providers.”
The bank emphasized the importance of transaction alerts in helping customers monitor account activities and offered an option to opt out of SMS alerts. “If you prefer not to receive transaction alerts via SMS, you can update your preferences by completing the transaction alert form on our website,” the email read. It also noted that SMS alerts to international phone numbers would incur higher charges.
