Equity Bank Kenya is set to earn hundreds of millions of shillings from the introduction of a transaction confirmation alert fee of Sh2.26.
The lender, which has more than 10 million customers in the country, introduced the new charge for each short message service (SMS) on Monday.
“We have introduced a standard SMS charge of Sh2.26, effective 24th April. The charge applies to mobile and online transaction confirmation alerts,” the bank said in a notice to customers.