According to the banks, the decision to adjust the fee was necessitated by a recent upward review in telecom service rates by mobile network providers
By Titilope Adako
Commercial banks across the country have announced an upward review of their SMS transaction alert fee, raising the charge from N4 to N6 per message.
The new rate takes effect today, Thursday, May 1, 2025.
Customers received notifications of the increase early Wednesday morning through emails and SMS messages from their respective banks.
According to the banks, the decision to adjust the fee was necessitated by a recent upward review in telecom service rates by mobile network providers.
The new telecom charges, which have now been approved by the federal government, gave telecommunication operators the green light to increase their tariffs across board, affecting services such as SMS alerts used by banks to notify customers of transactions on their accounts.
One of the messages from a leading commercial bank reads: “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 banks further explained that customers who receive alerts through international phone numbers will pay higher fees, though no specific amount was stated.
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