- Nigerian banks have increased their SMS alert charges by 50%, effective May 1, 2025, following recent telecom service rate changes approved by the Nigerian Communications Commission.
- Guaranty Trust Bank and Ecobank have increased their SMS transaction alert fees from N4 to N6 per message, affecting customers.
Starting May 1, 2025, several Nigerian banks have implemented a 50% increase in SMS alert charges, citing recent adjustments in telecom tariffs approved by the Nigerian Communications Commission (NCC).
Guaranty Trust Bank (GTBank) and Ecobank are among the financial institutions that have notified customers of the upward review in charges. GTBank’s fee for SMS transaction alerts has risen from ₦4 to ₦6 per message, while Ecobank has adjusted its rate from ₦5 to ₦6.
In a message sent to customers on April 30, GTBank attributed the change to increased telecom rates, stating:
“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,”
The bank emphasized that SMS alerts play a vital role in helping customers monitor their accounts and prevent fraud. It also offered an opt-out option via a form available on its website for those who prefer not to receive SMS updates.
Ecobank also addressed the adjustment, explaining that the decision came after “careful consideration,” and acknowledging that while the increase might be inconvenient, it was necessary to maintain service quality.
SMS transaction alerts are commonly used by banks to provide customers with real-time updates on account activity. However, many institutions also offer email alerts at no extra cost as an alternative for customers seeking to avoid additional fees.
