Guaranty Trust Bank (GTBank) has announced a rise in its SMS transaction alert fee, increasing the cost from ₦4 to ₦6 per message. This adjustment will take effect on Thursday, May 1, 2025. The bank explained in a notice to its customers that the increase follows recent changes in telecommunication rates by service providers.

The revised fee will apply to all customers who receive transaction alerts through SMS. GTBank has attributed the fee hike to rising operational costs in both the banking and telecom sectors, which have forced several institutions to adjust their service charges due to inflation and regulatory changes.

Customers were informed of the change via a notice that explained the new tariff structure: “Dear Valued Customer, 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 telecommunication service providers.”

The notice further reassured customers that transaction alerts are essential for monitoring and managing their accounts. Additionally, GTBank offered customers the option to opt-out of receiving SMS transaction alerts by updating their preferences on the bank’s website.

Ecobank Follows Suit with a Similar Fee Revision

In a parallel development, Ecobank Nigeria also announced an increase in its SMS transaction notification charges. Effective May 1, 2025, the fee will rise from N5 to N6 per message. The bank attributed the increase to a new tariff structure, which was communicated to customers through SMS.

Both GTBank and Ecobank’s adjustments reflect broader trends in the banking and telecom industries, where rising operational costs are prompting banks to revise service charges.