FirstBank of Nigeria has announced that its transaction alert fee has gone up from N4 to N6 per text message.
The bank recently had its say via a customer notice shared via its different social media platforms.
According to First Bank, the increase is a result of the recent hike in telecom service costs by network providers, and while it will be very inconvenient for customers at this time, it had to happen.
The bank promised to keep doing its utmost best to reduce the impact of the inconvenience to the barest minimum, while pledging to maintain service quality.
“We understand that staying connected and informed about financial activity on your FirstBank account is crucial. Unfortunately, due to the recent increase in telecom service charges by service providers, the fee for our SMS transaction alerts has been adjusted from N4 to N6 per message,” it read.
The financial institution insisted that it remains committed to offering the best financial services possible while ensuring its loyal customers never have any cause to regret trusting them with their hard-earned funds.
First Bank then urged customers who have concerns or questions about the adjustment to contact its customer service reps via the official contact channels.
“We know that this change might cause you some inconvenience, but we are committed to minimising the impact of this change while we continue to provide you with the best financial services possible,” it added.
This increase is coming at a time when banks are reviewing cost structures following the rise in operating expenses, including hiked telecom tariffs and inflationary pressures across all sectors.
Announcing that the new SMS charge will apply per transaction alert received by customers, some Nigerians on X have come out to express their displeasure at the latest development. They blasted the decision to raise the price for SMS alerts, especially at a time when rival banks are cancelling similar charges.
One X user, @Tonyvyncent wrote, “FirstBankngr have mercy. In a period when others like Sterling Bank are removing charges for customers, you’re increasing charges. No emotional intelligence.”
@ramblingdeborah added, “It’s today these FirstBank people are collecting charges from May?!!”
