Banks begin charging ₦6 per SMS for transaction alerts

Maureen Aguta

Starting on Thursday, May 1, 2025, Nigerian banks began charging N6 for every SMS transaction alert, citing the recent hike in telecommunications service rates as the cause of the increase.

The new charge marks a 50 per cent rise from the previous N4 per message, sparking concern among customers already grappling with inflation and rising living costs.

The hike in SMS alert fees follows a green light from the Federal Government that allowed telecom providers to raise their tariff. Banks, in turn, are adjusting their service charges to reflect the change, despite the potential burden on users.

In an email sent to its customers, Guaranty Trust Bank (GTBank) wrote:

“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 in helping customers monitor account activity and prevent fraud, while also offering an opt-out option for those who prefer not to receive alerts via SMS. Customers are advised to update their preferences on the bank’s website. GTBank also noted that SMS alerts sent to international numbers would attract higher fees.

While some customers may consider switching to email or app notifications, the added cost to essential services has reignited conversations around the affordability and transparency of banking in Nigeria.