Guaranty Trust Bank (GTBank) has announced an increase in the price being charged for SMS transaction alerts to its customers.
The bank said the increment, which is to take effect from May 1, 2025, will move the fee from N4 to N6 per message.
GTBank said the increment was necessitated by the increase in the tariffs of telecommunication companies in the country.
In January, the Nigerian Communications Commission (NCC) granted its approval following the request of telcos to increase tariffs by 50 per cent.
The approval led to a hike in the cost of calls, SMS and data subscriptions.
GTBank, in an email sent to all customers, informed the customers that they will now pay N6.00 per SMS from May 1.
The bank said the importance of SMS alerts is monitoring account activities and mitigating fraud.
“This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers,” GTBank said.
The lender added that customers who wish to avoid the charges may opt out of SMS alerts by updating their preferences on the bank’s website.
“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.
