One of Nigeria’s leading financial institutions, Guaranty Trust Bank (GTBank), has announced an SMS fee hike.
This is as GTBank SMS fee rose by 50%, raising the cost from ₦4 to ₦6 per message.
In a statement sent to the Pan-Atlantic Kompass on Wednesday, it was gathered that the GTBank SMS fee hike will take effect from May 1, 2025.
The bank attributed the increase to rising telecommunication rates.
According to the statement released by GTBank, the adjustment is a direct response to an upward review of telecommunication rates by service providers.
The statement reads in part: “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.”
GTBank also noted the importance of SMS transaction alerts for monitoring account activities and enhancing security while also offering customers the option to opt-out if preferred.
“Kindly note that transaction alerts are important and help you keep track and stay in control of activities on your account,” the bank said.
The Pan-Atlantic Kompass reports that the SMS alert system allows customers to receive real-time notifications of activities on their accounts, helping them monitor for any unauthorized or suspicious transactions.
Customers who no longer wish to receive transaction notifications via SMS are allowed to opt-out.
“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,” the statement added.
The GTBank SMS fee hike is expected to affect millions of customers who rely on SMS alerts for real-time updates on deposits, withdrawals, and other transactions.
An evaluation of the development revealed that for small business owners and individuals with frequent transactions, the 50% increase could add up quickly.
For instance, a customer receiving 100 SMS alerts monthly will now pay ₦600 instead of ₦400.
The GTBank SMS fee hike comes at a time when Nigerians are grappling with rising costs across multiple sectors.
Recently, telecom providers like MTN have increased data plan prices.
Recall that MTN increased data plans by 200 per cent. In February 2025, a 15GB data bundle/per week that previously cost ₦2,000 was increased to ₦6,000, among other data bundles.
