Banks are billing for your SMS alerts against RBI advisory
KOLKATA: Charges for SMS alerts on banking transactions may not squeeze account holders much but can be a reasonable earning for many banks, especially in accounts with meagre monthly transactions though income from SMS alert service goes against the advisory from the sector regulator. While Reserve Bank of India told banks to send SMS alerts for every transaction as means to fight frauds, the regulator also directed banks to levy charges on actual usage basis. RBI said charges on actual usage basis would promote reasonableness in customer dealings but a majority of banks, including leaders State Bank of India
No comments:
Post a Comment