Sterling Bank pauses ₦6 SMS alert fee to ease customer burden
Sterling Bank will cover the new ₦6 SMS alert price for the next 60 days, protecting consumers from escalating telecom tariffs.The decision comes after the Nigerian Communications Commission approved a 50% rise in SMS prices for telecom carriers, which went into effect in January 2025 and has since been adopted by most banks in the country.
In a client note received on Thursday, May 1, the bank acknowledged the higher costs' impact on customers. "We have received notification from our telecom partners that the cost of SMS notifications has increased. "We understand that this is not good news, especially at a time when every naira counts," the statement added.
"To ease this burden, Sterling will absorb the difference for the next 60 days," the lender announced. "You will continue to pay at the old rate while we fill the gap. It's our way of supporting you as you adjust."
In addition, the bank encourages consumers to switch to email alerts for credit transactions, which are free, quick, and safe. SMS, on the other hand, is still the preferred method for debit warnings due to its quickness and dependability in detecting fraudulent or suspicious payments.
This effort is the latest in Sterling Bank's line of cost-cutting steps targeted at improving the customer experience. In April 2025, the bank eliminated transfer fees on its digital platform, OneBank, making it the first major Nigerian bank to do so.
Sterling Bank CEO Abubakar Suleiman underlined the company's commitment to making banking more accessible. "This is part of a broader strategy to deliver value and support our customers through challenging economic times," said the company president.
The announcement comes as Nigerians become increasingly concerned about digital banking fraud. Nigerian banks lost about ₦42.6 billion to fraudsters in Q2 2024, primarily due to bogus notifications and scams.
Sterling Bank seeks to alleviate financial pressures while increasing faith in its digital services amid a time of economic and security uncertainty by prioritising the client.
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