FirstBank Increases SMS Alert Fee From N4 To N6.
FirstBank of Nigeria has announced an increase in its SMS transaction alert fee from N4 to N6 per message, effective from 1 May 2025. The adjustment, attributed to rising telecommunications service costs, underscores the bank’s commitment to maintaining robust security measures for customers while offering flexible alternatives to manage expenses.
The decision follows a broader industry trend, with several Nigerian banks, including Guaranty Trust Bank and Ecobank, implementing similar fee hikes due to tariff increases approved by the Nigerian Communications Commission (NCC). FirstBank notified customers via a statement, explaining that the change reflects higher rates charged by telecom providers amid challenges such as naira depreciation, surging energy costs, and infrastructure expenses. “This adjustment ensures we continue to provide timely and secure transaction alerts to help you monitor your account effectively,” the bank stated.
The SMS alerts, which notify customers of account activities such as withdrawals, transfers, and deposits, remain a critical tool in preventing fraud and unauthorised access. FirstBank emphasised the importance of these alerts in safeguarding accounts, particularly in an era of increasingly sophisticated financial scams. However, recognising the financial pressures faced by customers amid Nigeria’s inflation, the bank has encouraged users to explore cost-free alternatives. Customers can opt for email alerts or push notifications via the FirstBank mobile app, which provide the same level of transaction monitoring at no additional cost.
Public sentiment, as reflected in posts on X, shows a mix of understanding and concern. One user noted, “N6 per SMS is steep, but email alerts are free, so I’m switching to save costs.” Another praised FirstBank’s transparency, stating, “At least they’re upfront about it and offering options.” The bank has advised customers to update their preferences through its website or by visiting a branch to deactivate SMS alerts if preferred.
This move aligns with FirstBank’s ongoing efforts to balance service quality with affordability. The bank recently introduced enhancements to its digital banking platforms, making it easier for customers to manage accounts remotely. By offering free email and app-based notifications, FirstBank is empowering customers to stay informed without incurring additional charges, a step that has been welcomed by financial analysts. “It’s a practical response to rising costs while giving customers control over their expenses,” said Tunde Adeyemi, a Lagos-based economist.
As Nigeria’s banking sector navigates economic challenges, FirstBank’s proactive communication and provision of alternatives demonstrate a customer-centric approach. The bank has also provided dedicated helplines for customers seeking assistance with the transition to email or app alerts, ensuring a seamless experience. With these measures, FirstBank continues to reinforce its reputation as a trusted financial institution committed to security and innovation.
