The Guaranty Trust Bank (GTB) in a notice on Wednesday declared that from May 1, known as workers day will begin charging N6 for each SMS transaction alert, from the current N4, marking a 50 per cent increase in the fee.
Penpushing reports that the bank in the notice emphasized that the adjustment was due to a recent increase in telecommunication rates as communicated by the telecommunication service providers.
The bank added that customers who prefer not to receive SMS alerts can opt out via its online banking platform, however, it encouraged continued use of the service to monitor account activity.
“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 bank declared.
Penpushing further reports that the revised charge follows the Nigerian Communications Commission’s (NCC) approval of an upward review of telecom tariffs in January 2025, and that review allowed mobile network operators to increase prices for services such as bulk SMS, which banks rely on to notify customers of account transactions.
The Nigerian Communications Commission’s (NCC) at the time, explained that the review was necessary to reflect the current economic realities and ensure continued quality of service, however, customers seeking more information were advised to contact the bank’s customer service channels.
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