Guaranty Trust Bank (GTBank) has announced a price increase for its SMS transaction alert service, effective May 1, 2025. The fee will rise from N4 to N6 per message, representing a 50% increase. The bank attributed this adjustment to escalating telecommunication service charges, as communicated by telecom providers. This cost increase underscores the broader trend of rising operational expenses in the telecommunications sector, which inevitably impacts related services like transaction alerts. GTBank emphasized the crucial role of these alerts in enabling customers to monitor their account activities effectively and promptly identify any unauthorized transactions. This underscores the bank’s commitment to security and customer awareness in mitigating financial risks.
The bank acknowledges the potential financial impact of this increase on customers and has provided an alternative. Customers who wish to avoid the increased fee can opt out of the SMS alert service. GTBank offers alternative channels for transaction notifications, allowing customers to choose the method that aligns with their preferences and financial constraints. This opt-out option reflects the bank’s recognition of customer diversity and their varying needs for account monitoring. Customers can update their notification preferences by completing a transaction alert form available on the bank’s website and submitting it via email. This online process provides a convenient and accessible way for customers to manage their alert settings.
While SMS alerts remain a valuable tool for real-time account monitoring, the bank also encourages the use of other platforms like its mobile banking app and internet banking platform. These digital channels offer comprehensive transaction histories and other account management features, providing alternative avenues for staying informed about account activity. This multi-channel approach reinforces the bank’s commitment to providing convenient and accessible banking services to its customers. The bank also emphasized the importance of regularly reviewing account statements, which offer a consolidated overview of transactions and can help identify any discrepancies.
For customers who opt out of SMS alerts, maintaining vigilance through these alternative channels becomes paramount. Regularly checking transaction history through the mobile app, internet banking, or account statements allows for proactive identification of any unauthorized or suspicious activity. This proactive approach to account monitoring helps mitigate potential financial losses and ensures customers remain in control of their finances. GTBank’s provision of alternatives underscores its commitment to customer empowerment and financial security.
Customers who require further clarification or assistance regarding the SMS alert fee increase or the opt-out process can contact the bank’s customer service helplines. The bank’s dedicated customer service team is available to address any queries and provide support in navigating the available notification options. This commitment to customer service ensures that customers receive the necessary information and assistance to make informed decisions about their account monitoring preferences. GTBank’s proactive communication and support further demonstrate its customer-centric approach to service delivery.
This announcement from GTBank highlights the interconnectedness of the financial and telecommunications sectors. Rising costs in one sector can have ripple effects on related services offered by other institutions. It also emphasizes the importance of transparent communication with customers about changes in fees and services. By offering alternatives and detailed instructions on how to manage notification settings, GTBank aims to mitigate the impact of this price increase on its customers while continuing to provide essential security features like transaction alerts. This proactive and transparent approach underscores the bank’s commitment to maintaining strong customer relationships and providing flexible and accessible banking services.
