Deposit Money Banks (DMBs) in Nigeria, including Guaranty Trust Bank (GTBank) and Ecobank, have announced a 50 per cent increase in SMS alert charges effective May 1, 2025. The charge per SMS has risen to N6, up from the previous N4 to N5, in response to adjustments in telecom tariffs approved by the Nigerian Communications Commission (NCC).
In emails sent to customers, both banks attributed the hike to rising telecom service rates. GTBank’s notification highlighted:
“Please be informed that effective 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.”
Similarly, Ecobank informed customers that its SMS alert fee has been revised from N5 to N6 per message under a “revised tariff” regime, assuring customers of continued service excellence despite the changes.
The 9am News report notes that telecom operators, such as MTN, Airtel, Globacom, and 9mobile, have faced rising operational costs due to currency depreciation, high energy costs, and infrastructure challenges. While these operators sought a 100 per cent tariff increase, the NCC approved a 50 per cent hike to balance financial sustainability with consumer affordability.
GTBank reiterated the importance of SMS alerts in enhancing account security and monitoring unauthorized transactions but reminded customers that they can opt out.
“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],” the bank stated.
While SMS alerts remain a key security tool, most banks also provide free email alerts as an alternative.
Telecom-related price increases have extended beyond SMS charges. For instance, MTN’s 1.8GB monthly data plan rose from N1,000 to N1,500, and its 20GB plan increased from N5,500 to N7,500. These adjustments reflect the broader impact of the NCC’s approved tariff revision, the first significant increase in over a decade.
The banking sector’s reliance on telecom infrastructure for transaction alerts continues to evolve, with customers advised to consider their alert preferences amid the new pricing.
Stay tuned to 9am News Nigeria for more Breaking News, Business News, Sports updates And Entertainment Gists.
