From May 1, 2025, Nigerians will be paying more to receive SMS alerts from their banks, as financial institutions begin implementing higher service charges in response to new telecom rates approved by the Nigerian Communications Commission (NCC).
Two of the country’s leading banks, Guaranty Trust Bank (GTBank) and Ecobank, have confirmed the new pricing, with SMS alert fees now set at N6 per message. GTBank previously charged N4, while Ecobank’s fee rose from N5.
The banks said the price hike is a direct consequence of adjustments made by telecom service providers, which supply the infrastructure used to send transactional messages to customers.
“Effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message,” GTBank said in an official email to customers. “This adjustment is due to a recent increase in telecom rates.”
GTBank also noted that while SMS alerts play a crucial role in fraud prevention and account monitoring, customers who prefer not to use the service can opt out by filling a form available on its website.
Ecobank, in its own customer notice, said it carefully considered the decision before implementing the new rate. “We understand that this change may cause some inconvenience,” the bank acknowledged, “but it is necessary to continue delivering reliable and secure service.”
The SMS alert system is widely used in Nigeria’s banking sector, helping millions of customers stay updated on their account activities in real time. However, with data costs dropping and smartphone usage on the rise, many banks now offer email and app notifications as free alternatives.
Still, for customers in areas with limited internet access, SMS remains the go-to option for staying informed on financial transactions.
While the increase may seem small in isolation, some customers have expressed concern over the cumulative impact of banking charges, especially during a period of economic uncertainty. There are growing calls for regulatory authorities to review how such fees are introduced and communicated to the public.
For now, bank users are advised to monitor their statements closely and consider whether they want to continue with SMS alerts or switch to digital alternatives.
