Guaranty Trust Bank (GTBank) has announced an increase in its Short Message Service (SMS) transaction alert fee from N4 to N6 per message, effective May 1.
Recall that the Nigerian Communications Commission (NCC) had earlier on January 20 approved the request of telecommunications companies (telcos) to increase tariff by 50 percent.
Two weeks later, telcos began implementing the hike in both calls, SMS and data subscriptions.
In a notice to customers on Tuesday, GTB attributed the adjustment to the recent hike in telecommunications charges by service providers.
The bank said the importance of SMS alerts is monitoring account activities and mitigating fraud.
“This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers,” GTBank said.
The lender added that customers who wish to avoid the charges may opt out of SMS alerts by updating their preferences on the bank’s website.
“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 [email protected],” GTB said.
