FirstBank of Nigeria has announced an increase in its SMS transaction alert fee from ₦4 to ₦6 per SMS alert, effective May 1, 2025.
The bank attributes this adjustment to the rising telecommunications service charges that network providers impose in a customer note that was seen on Wednesday.
The bank promised that measures are being made to reduce the impact while preserving service quality, even though it acknowledged that the change may cause some annoyance to consumers.
The message read: “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.
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“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.”
This 50% hike has sparked significant backlash from customers, particularly on social media platforms. Many users have expressed frustration over the additional financial burden, especially amidst the current economic challenges. Some customers are considering switching to email alerts to avoid the increased SMS charges.
It’s noteworthy that other Nigerian banks, such as Guaranty Trust Bank (GTBank), have also implemented similar fee increases, citing the same reasons related to telecom tariff hikes.
In response to the criticism, FirstBank has acknowledged the importance of keeping customers informed about their account activities and has encouraged those with concerns to reach out through official channels.
