Banks in Nigeria have raised their SMS alert charges by 50 per cent, effective today, May 1, 2025, following the recent changes in telecom service rates approved by the Nigerian Communications Commission (NCC).
Among the affected banks are Guaranty Trust Bank (GTBank) and Ecobank, both of which have informed customers of the new charges via official notifications. GTBank’s SMS transaction alert fee has risen from N4 to N6 per message, while Ecobank increased its rate from N5 to N6.
GTBank, in an email sent to customers on April 30, attributed the hike to the revised rates from telecom service providers.
“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 stated. It added that while SMS alerts are crucial for account monitoring and fraud prevention, customers who prefer to opt out can do so by submitting a form on its website.
Similarly, Ecobank noted that the decision was made after “careful consideration,” stating, “We understand that this change may cause some inconvenience and want to assure you that the decision was made after careful consideration. We remain committed to delivering the best possible service.”
The SMS alert system, which enables customers to receive real-time updates on their account transactions, is widely used by banks to enhance security and customer experience. However, most financial institutions also offer email alerts as a free alternative.
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