Banks say SMS alert fee will increase to N6 from May 1

Guaranty Trust Bank (GTBank) and Union Bank have announced an increase in their SMS transaction alert fee from N4 to N6 per message, effective May 1.

On January 20, the Nigerian Communications Commission (NCC) approved the request of telecommunications companies (telcos) to increase tariff by 50 percent. 

Two weeks later, telcos began implementing the hike in both calls, SMS and data subscriptions. 

In a notice to customers seen by TheCable on Tuesday, GTB  attributed the adjustment to the recent hike in telecommunications charges by service providers.

The bank said the importance of SMS alerts is monitoring account activities and mitigating fraud. 

“This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers,” GTBank said.

The lender added that customers who wish to avoid the charges may opt out of SMS alerts by updating their preferences on the bank’s website.

“If you prefer not to receive transaction alerts via SMS, you can update your preferences by completing the transaction alert form on our website and sending it to [email protected],” GTB said. 

As of now, there have been no similar announcements from other banks regarding SMS alert fee adjustments.

UNION BANK’S SMS ALERT FEE FIXED AT N6

In a similar move, Union Bank, in an email to customers, also attributed the upward review to recent rate adjustments by network providers.

“Our Telecommunication Service Providers have recently reviewed their service rates applicable to SMS notifications upwards,” the email reads.

“Consequently, effective Thursday, 1 May 2025, your SMS Transaction Alert Fee will increase from Four Naira (N4.00) to Six Naira (N6.00) per message.”

Union Bank said transaction alerts are essential, “as they help you monitor and control your account activities in real-time”.

“We encourage you to retain your subscription to this service,” the bank said.

“If you would like to opt out of receiving Transaction Alerts via SMS, please update your preferences by completing the Transaction Alert form on our website. You may submit the completed form to [email protected] or visit any of our branches nationwide for assistance.”

Union Bank added that SMS alerts sent to international phone numbers would attract higher charges, in line with telecom providers’ international messaging rates.