Guaranty Trust Bank will from 1 May begin charging ₦6 for each SMS transaction alert, up from the current ₦4, marking a 50 per cent increase in the fee.
In a Wednesday notice to customers, the bank said the adjustment was “due to a recent increase in telecom rates as communicated by the telecommunication service providers.”
According to Premium Times, GTBank added that customers who prefer not to receive SMS alerts can opt out via its online banking platform, though it encouraged continued use of the service to monitor account activity.
“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 gtbankmailsupport@gtbank.com,” GTB said.
The revised charge follows the Nigerian Communications Commission’s (NCC) approval of an upward review of telecom tariffs in January 2025. That review allowed mobile network operators to increase prices for services such as bulk SMS, which banks rely on to notify customers of account transactions.
At the time, the NCC said the review was necessary to reflect the current economic realities and ensure continued quality of service.
