Banks across Nigeria will commence the implementation of charges for alerts and other short messages (SMS) communications to their customers at the rate of N6 for every SMS transaction with effect from today.
This development is coming on the heels of the increments which took place in telecommunications rates by telecommunication providers which was backed by the Federal Government.
The SMS charges were increased by 50% to N6 from the previous N4 per message with various banks had sent emails to their customers to inform them of the new SMS rate.
An email reportedly from Guaranty Trust Bank Limited read “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.
“Kindly note that transaction alerts are important and help you keep track and stay in control of activities on your account.
“If you prefer not to receive transaction alerts via SMS, you can update your preferences by completing the transaction alert form on our website.
“SMS alerts to international phone numbers are subject to higher charges.”
Vanguard
