Deposit Money Banks (DMBs) will from today, May 1, begin to charge N6 instead of N4 for SMS transaction done on customers’ account, which is a 50 percent increase.
Leading the charge, yesterday in a notice to its teeming customers, Guaranty Trust Bank (GTB) stated that the adjustment is due to the recent upward review in telecommunication rates by service providers.
It can be recalled that telecom operators had in January gotten approval from the Federal Government through the Nigerian Communications Commission (NCC) to increase rates of voice, data and SMS services by 50 per cent, which subsequently increased prices of telephony services in the country.
While telcos argued that the 50 per cent hike approved by the NCC was necessary to keep their businesses running after the last hike was 11 years ago, consumers on the other hand cried and are still crying bitterly, citing the burden of increased costs.
Furthermore, GTB in the notice, noted that SMS alerts to international phone numbers will attract higher charges.
The notice reads: “Dear Valued Customer, please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message. This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers.
“Kindly note that transaction alerts are important and help you keep track and stay in control of activities on your account.
“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.”