Some bank customers say they will opt for electronic mail alert from their banks to cut costs and reduce charges on their accounts.
Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, said they would deactivate the Short Message Services (SMS) transaction alert linked to their accounts.
Dorathy Azinge, a customer of a bank, described the increase in SMS charges as exploitative.
Azinge said that in spite of various transaction charges debited from her bank account on a daily basis, the bank still increased SMS charges.
”This move of increasing SMS charges is very exploitative even though they cited telecommunication charge. What about all the numerous unwarranted debits that I get from my account, and they are using telecommunication increase as yardstick to increase theirs. GT will remove different charges from my account until they give me minus balance,” she said.
Another GTCO customer, Elizabeth Abu, said she would visit her bank to opt for her transaction alerts to be sent to only her e-mail address.
Abu who complained about the reduction in her capitalised interest on her account, said the numerous debits were becoming frustrating.
Read also: Customers to pay more as banks raise SMS alert by 50% 
”It does not make sense for the bank to charge me for a transaction I did and also charge me for the alert they sent.
Clement Arubu, a customer with First HoldCo Plc, said he received various transaction debit alerts from his bank totalling N1, 050 monthly.
Arubu said the debits were huge, especially when calculated between 10,000 customers of the bank.
”Most customers receive these alerts and neglect them because to them, the money is small but when you debit the same money from about 10,000 customers then, you can be sure that the money is huge,” he said.
Esther Arthur, a Fidelity Bank customer alleged that some of the banks were making profits from charges on customers for their transactions.
Arthur described the situation as sad and frustrating
”I withdrew N10,000 from a First Bank Automated Teller Machine (ATM) and the machine showed me that I will be charged N100 because it wasn’t my bank.
Augustine Ode, a Zenith Bank customer, appealed to the CBN to check excesses of some banks that were allegedly defrauding customers.
The News Agency of Nigeria (NAN) reports that GTCO had informed its customers of the SMS transaction alert fee increase from N4 to N6 per message.
The bank had said that the adjustment was due to a recent increase in telecom rates.
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Business Day, established in 2001, is a daily business newspaper based in Lagos. It is the only Nigerian newspaper with a bureau in Accra, Ghana. It has both daily and Sunday titles. It circulates in Nigeria and Ghana.
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