GTBank Increases Transaction SMS Charge

Guaranty Trust Bank (GTBank) has announced an increase in the cost of SMS alerts for transactions, raising the fee from ₦4 to ₦6 per message. The new rate will take effect on Thursday, May 1, 2025.

The bank shared this update with its customers on Wednesday, explaining that the increase follows a hike in telecommunication charges by service providers.

“All customers who receive transaction alerts via SMS will be affected by the revised fee,” GTBank stated in its notice.

The bank emphasized that the change is part of a broader adjustment across the financial sector, as both banks and telecom companies grapple with rising operational costs and inflation.

“Dear Valued Customer,” the notice read, “Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from ₦4 to ₦6 per message. This adjustment is due to a recent increase in telecom rates as communicated by the service providers.”

GTBank also reminded customers that SMS alerts are a key tool for monitoring and securing their accounts. However, those who wish to opt out of SMS alerts can do so by updating their preferences via the bank’s website and emailing the completed form to [email protected].

In a similar move, Ecobank Nigeria has also announced an upward review of its SMS notification charges, raising the fee from ₦5 to ₦6, effective the same day. The bank cited changes in telecom tariffs as the reason for the adjustment.

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