Banks raise from today transaction alert charge on customers’ accounts based on rates increase by telecom operators
By Jeph Ajobaju, Chief Copy Editor
Banks will today begin charging N6 per short message service (text) and any other alert sent to their customers on each transaction on their accounts.
This comes on the heels of the increase in rates by telecommunication operators following approval by the federal government.
The text message charge is raised 50 per cent from N4 to N6 per message, and various banks have sent emails to their customers informing them of the new rate.
An email from Guaranty Trust Bank (GT Bank), titled “Increase in SMS Transaction Alert fee” reads:
“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.”
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