- SMS Charges: Banks will start charging customers N6 for every SMS transaction alert.
- Increase in Charges: The SMS charges have been increased by 50% from N4 to N6 per message.
- Reason for Increase: The increase is due to a recent hike in telecom rates by telecommunication providers.
- Effective Date: The new charges will take effect from today.
Banks have informed their customers about the new SMS rate through emails, explaining that transaction alerts are important for keeping track of account activities. The banks attribute the adjustment to the recent increase in telecom rates as communicated by the telecommunication service providers.
Customers can update their preferences to opt-out of SMS alerts or adjust their settings on the bank’s website. Additionally, SMS alerts to international phone numbers may be subject to higher charges, as noted by some banks in their notifications to customers.
