Bank customers weigh options over hike in SMS alert charges (Daily Trust)

2 May 2025 09:30 am
Business

Bank customers in Nigeria are facing a dilemma as banks have increased their charges for SMS alerts. This service which notifies customers of any transactions on their accounts used to be free or charged at a minimal fee. However banks have now increased the charges with some customers reporting a 300% increase. This has caused outrage among customers who feel that they are being unfairly burdened with additional charges. Many are now considering their options including switching to other banks or exploring alternative means of receiving transaction alerts. This increase in SMS alert charges is just one of the many challenges facing bank customers in Nigeria.

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Link to Original Story: https://dailytrust.com/bank-customers-weigh-options-over-hike-in-sms-alert-charges/

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  • 1) Banks already levy multiple charges on customers and now with another increase in SMS alert fees, Don't you think they are going too far?
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  • 2) As fintech platforms offer fee free real time alerts, is sticking with commercial banks still worth these extra charges?
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  • 3) With various deductions piling up across accounts, don't you think this SMS alert fee hike is another way for banks to profit from their own inefficiencies?
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