Banks Introduce New N6 Fee for SMS Transaction Alerts Starting May 1

By: Chioma Madonna Ndukwu

Effective today, Nigerian bank customers will pay N6 for each SMS alert they receive for transactions, following a rise in telecommunications tariffs nationwide.

This new charge reflects a 50% increase from the previous N4 rate and stems from a recent adjustment in SMS pricing by telecom service providers, approved by the Federal Government.

Banks across the country have begun notifying their customers of the change. One such notification from Guaranty Trust Bank (GTBank) reads:

“Dear Valued Customer, Please be informed that effective Thursday, 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.”

The bank also reminded customers of the usefulness of SMS alerts for monitoring account activity, while offering the option to switch to alternative alert methods by updating their preferences online. Customers receiving alerts on international phone numbers may incur even higher fees.