Guaranty Trust Bank (GTBank) has announced an increase in its SMS alert fee, raising the charge from N4 to N6 per message. The new rate takes effect on Thursday, May 1, 2025, and represents a 50% hike, which the bank attributes to rising telecom service costs.
In a notice sent to its customers, GTBank explained that the fee adjustment was necessary due to “a recent increase in telecom rates as communicated by the telecommunication service providers.” While the bank didn’t disclose which telecom companies were involved or the date of the rate changes, it made clear the update was a direct response to external telecom cost pressures.
Digital Security Meets Cost Implications
SMS transaction alerts are a core part of GTBank’s real-time account monitoring service. The bank highlighted the feature’s role in enhancing account security and helping customers track suspicious activities. “Kindly note that transaction alerts are important and help you keep track and stay in control of activities on your account,” the bank said in its message.
Despite the added cost, customers are not obligated to continue using the SMS service. GTBank is allowing account holders to opt out if they prefer. The opt-out process involves downloading a transaction alert form on the bank’s website and submitting it via email to gtbankmailsupport@gtbank.com.
Still, the fee increase has sparked mixed reactions online. Some users believe the extra N2 could be burdensome for high-frequency transactions, while others argue that real-time security is worth the added cost. As digital banking expands in Nigeria, telecom pricing continues to influence the cost of essential services, leaving banks and customers balancing convenience and affordability.
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