Several commercial banks in Nigeria have officially increased their SMS alert charges by 50 per cent, beginning on Wednesday, May 1, 2025. The decision comes in the wake of newly adjusted telecom service tariffs recently approved by the Nigerian Communications Commission (NCC). These changes are expected to affect millions of bank customers nationwide who rely on SMS alerts to monitor account activity and prevent fraudulent transactions.
Prominent financial institutions such as Guaranty Trust Bank (GTBank) and Ecobank are among the first to publicly implement the increase and notify their customers. GTBank raised its SMS transaction alert fee from ₦4 to ₦6 per message, while Ecobank followed with a similar adjustment from ₦5 to ₦6. The upward review has sparked mixed reactions from account holders who have expressed concern over rising banking and communication costs.
In an email issued to its customers on April 30, 2025, GTBank cited the increase in telecom providers’ rates as the reason for the hike. The bank explained that the adjustment is necessary to sustain uninterrupted SMS alert services, which play a key role in keeping customers informed about real-time financial activities. “Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from ₦4 to ₦6 per message. This adjustment is due to a recent increase in telecom rates,” the email read.
The bank emphasized the importance of SMS alerts in fraud detection and account monitoring, but also offered customers the option to discontinue the service. GTBank stated that customers who wish to opt out can do so by filling out a designated form available on its official website.
Similarly, Ecobank explained that the decision to adjust the SMS fee was made “after careful consideration” of operational costs and changes in telecom tariffs. In a customer notice, the bank said, “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 to our customers.”
The SMS alert service has long been a key tool for Nigerian banks, enabling customers to receive prompt updates about transactions, deposits, withdrawals, and suspicious account activity. It enhances financial transparency and account security. However, to minimize the impact of rising SMS costs, banks continue to provide email alerts as a cost-free alternative, encouraging customers to subscribe to electronic channels for notifications.
As more financial institutions are expected to follow suit, customers are advised to keep an eye on official communication from their banks regarding service fee changes. Industry analysts suggest that further hikes could occur if telecom service providers continue to adjust pricing under NCC's regulatory oversight.