Commercial banks in Nigeria have increased the transaction alert fee from N4 to N6 effective from Thursday, May 1, 2025.
This is contained in a message sent by banks to their customers early Wednesday morning.
The banks said the increase was due to a recent increase in telecom rates as communicated by the telecommunication service providers.
Earlier in Q1, the federal government gave the telecommunications service providers a nod to increase their tariffs across the board.
“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,” one of the banks said in an email message to its customers.
According to the banks, SMS alerts to international phone numbers are subject to higher charges
