GTBank raises SMS alert fee, citing telecom rate hike

Guaranty Trust Bank (GTBank) has announced a 50% increase in its SMS transaction alert fee, from N4 to N6 per message, effective Thursday, May 1, 2025. The bank relates this adjustment to recent adjustments in telecom service pricing as notified by network providers.

In a statement to clients, GTBank stated: “Please be advised that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message.”

The bank stated that the modification was a result of a recent rise in telecom tariffs, as reported by the communications service providers.”

GTBank emphasized the importance of SMS notifications, characterizing them as critical for tracking account activity and increasing financial security. These notifications give clients real-time transaction updates, allowing them to detect any unauthorized access or questionable behavior.

However, the bank also stated that consumers have the option to opt out of the SMS alert service. “If you prefer not to receive transaction alerts via SMS, you can update your preferences by completing the transaction alert from on our website and sending it to [email protected],” the further message reads.

The broader context of this fee hike ties into recent financial pressures facing Nigerian telecom operators, including MTN, Airtel, Globacom, and 9mobile, who have been grappling with high energy costs, naira depreciation, and recurring damage to critical infrastructure like undersea fiber cables.

Although telecom prices in Nigeria had stayed mostly stable for more than a decade, new changes spurred service providers to ask the Nigerian Communications Commission (NCC) for a 100% rise. The NCC approved a more moderate 50% tariff increase to assist in keeping telecom operations running while keeping prices affordable for customers.

The authorized raise has resulted in increased SMS rates and visible data pricing increases. For example, MTN’s 1.8GB monthly data package now costs N1,500, up from N1,000, while the 20GB plan has increased from N5,500 to N7,500.

These changes mean that GTBank and other banks that rely on telecom infrastructure to supply services will have to incur more costs, or pass them on to clients. The issue now is whether additional banks will follow suit, and how consumers will react to the increased expense of monitoring their account activities.