Popular Deposit Money Banks (DMBs), including GTBank and Ecobank, have increased their short message service (SMS) alert charges by 50 per cent starting from today, May 1.
Both Nigerian financial institutions recently informed their customers that SMS alert will cost more henceforth.
While GTB announced a 50% increase in its text alert fee from 4 to 6 naira per message, citing the recent telecom service rates changes, Ecobank revealed that SMS fees have gone up from 5 to 6 naira.
Informing customers via email, both banks told account owners that the change was as a result of the revised tariff, and while it will certainly be inconvenient for many of them, the decision had to be made after careful consideration.
GTB and Ecobank reiterated their commitment to providing top-quality service to their customers as they continue to patronize their branches all across the country.
“We understand that this change may cause some inconvenience and want to assure you that the decision was made after careful consideration. We remain committed to delivering the best possible service and sincerely appreciate your understanding and continued support,” it read.
GTB reminded customers of the importance of SMS transaction alerts for tracking account activities and improving security, reiterating that users are still very much allowed to opt out of the service whenever they choose to.
“Kindly note that transaction alerts are important and help you keep track and stay in control of activities on your account.
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 said.
It is common knowledge that the text message alert system lets customers receive real-time notifications of activities on their accounts, which helps them track any transaction happening behind their backs.
The recent hike involving Nigerian banks is coming after the latest tariff hikes triggered by the Nigerian Communications Commission‘s approval of a 50% adjustment to end user tariffs of telecom services in Nigeria. Recall that telecommunication companies across the nation successfully increased data and calls prices in February, citing increasing operation costs in Nigeria.
