Nigerian Banks Hike SMS Alert Fees to N6 Amid New Tariffs

Two major Nigerian banks, Guaranty Trust Bank (GTBank) and Ecobank Nigeria, have announced an increase in their SMS transaction alert fees.

GTBank’s fee will rise from N4 to N6 per message, while Ecobank’s fee will increase from N5 to N6 per message, both effective May 1, 2025.

According to GTBank, “This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers.” The bank emphasized the importance of transaction alerts, stating that they “help you keep track and stay in control of activities on your account.”

The banks attribute the adjustment to recent upward reviews in telecommunication rates by service providers. GTBank cited growing operational costs in the banking and telecom sectors, influenced by inflation and regulatory changes, as the reason for the increase.

The revised fees apply to all customers receiving transaction alerts via SMS.

Customers can opt-out of SMS alerts or update their preferences by completing a transaction alert form on the bank’s website, as GTBank noted, “If you prefer not to receive transaction alerts via SMS, you can update your preferences.”