From today onward banks will begin assessing their customers N6 for each SMS sent as notifications or other short message services (SMS) with no waiver set.
The Federal Government gave its approval as telecommunication providers raised their rates and so banks will start implementing charges for SMS.
SMS communication prices were elevated by 50% when the banking sector adjusted the fee to N6 per text.
Numerous banking institutions used email to notify their account holders about the new SMS price rates.
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Guaranty Trust Bank Limited communicated through an email entitled “Increase in SMS Transaction Alert fee” to notify customers that the SMS transaction fee would rise from N4 to N6 per message starting Thursday, May 1, 2025. Viettel and GLOBE are now applying greater telecom rates to service providers thus requiring this adjustment of fees.
The bank requires you to understand that transaction alerts have two main benefits – keeping track and maintaining control of your account activities.
The transaction alert form on our website enables you to modify your alert preferences if you choose not to get SMS alerts.
The notification service for international mobile phone numbers will result in higher costs to customers.
