List of Banks which started charging money for SMS alerts, mobile banking
- 12688
- 102
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- Last Comment
Already in the league are
- HDFC
- ICICI
- Axis Bank
- KOTAK
- YES
- SBI
In another example of cartelization among bankers, several banks have increased or started imposing charges for transaction alerts through SMS as well as for mobile banking. As usual, private lenders have taken the lead, which soon would be followed by nationalized banks
viveka wrote:
Increase in sms charges by the mobile networks cannot be given as a valid reason for this detestable act. Can SBI not take care of such a simple expense on their part? Kya kehte hain Barood Uncle?
u r not wrong.
Venkat wrote:
i would suggest u not to disable 60rs/year is not a big money ,this sms feature is very help full in many ways .this feature vl update u on each n every transaction happend in ur account.
Perfect reasoning !
+k
Venkat wrote:
viveka if that’s a primary account i would suggest u not to disable 60rs/year is not a big money ,this sms feature is very help full in many ways .this feature vl update u on each n every transaction happend in ur account.
Exactly. Did not do it in my mom’s account. Thanks for the suggestion.
@B@R_0_0_D wrote:@viveka wrote:
Increase in sms charges by the mobile networks cannot be given as a valid reason for this detestable act. Can SBI not take care of such a simple expense on their part? Kya kehte hain Barood Uncle?
u r not wrong.
@B@R_0_0_D wrote:@Venkat wrote:
i would suggest u not to disable 60rs/year is not a big money ,this sms feature is very help full in many ways .this feature vl update u on each n every transaction happend in ur account.
Perfect reasoning !
+k
i too wrote same reason above its only 16 paisa a day….much more they r spending in electricity & net charges even for writting a line or 2 on DD….:-}
viveka wrote:
DAN wrote:
viveka wrote:
Is there any such disable option for IOB? I’ve a useless account with them too though they have not charged any such thing so far (given the fact that it’s the last day of June).
Try their customer care number. May be they do have an option or may be the call operator may do it for you.
Will do it bro.
IOB does not have a customer care number. Only branch numbers in case of queries. WTF!
What can we do in case of malpractices occurring on a Sunday?
viveka wrote:
viveka wrote:
DAN wrote:
viveka wrote:
Is there any such disable option for IOB? I’ve a useless account with them too though they have not charged any such thing so far (given the fact that it’s the last day of June).
Try their customer care number. May be they do have an option or may be the call operator may do it for you.
Will do it bro.
IOB does not have a customer care number. Only branch numbers in case of queries. WTF!
What can we do in case of malpractices occurring on a Sunday?
Wait for Monday….bt how u will come to kno mischief on sunday….since u wnt get any alert via mssg….
nt that 1 can track online all the time…
viveka wrote:
viveka wrote:
DAN wrote:
viveka wrote:
Is there any such disable option for IOB? I’ve a useless account with them too though they have not charged any such thing so far (given the fact that it’s the last day of June).
Try their customer care number. May be they do have an option or may be the call operator may do it for you.
Will do it bro.
IOB does not have a customer care number. Only branch numbers in case of queries. WTF!
What can we do in case of malpractices occurring on a Sunday?
Haha
Try this 18004254445
rajdesidime wrote:
Wait for Monday….bt how u will come to kno mischief on sunday….since u wnt get any alert via mssg….
nt that 1 can track online all the time…
Hey… I already said I hardly use that account. In fact, I’ve never transacted there so far. Just 500 min balance is there. So I’m not asking this for myself. That was a question in general interest.
viveka wrote:
rajdesidime wrote:
Wait for Monday….bt how u will come to kno mischief on sunday….since u wnt get any alert via mssg….
nt that 1 can track online all the time…
Hey… I already said I hardly use that account. In fact, I’ve never transacted there so far. Just 500 min balance is there. So I’m not asking this for myself. That was a question in general interest.
same was thet reason for==== General…
viveka wrote:
What can we do in case of malpractices occurring on a Sunday?
kisine cybercrime karna hoga to office working time me alert a jane se bhi aap kya ukhar loge ?
1. Mumbai police staff acc/ in Axis bank hacked by scammer machine in ATM at Mumbai Police HQ ATM, used the cloned card in Nigeria etc.
2. Alert is the safety for next transactions after the crime, and for saving other accounts.
Venkat wrote:
Haha
Try this 18004254445
Wow! Where did you get that bro? It worked, though in a queer way. Because the IVR asked to opt for a language by pressing a number but did not wait for me to do that but connected to the executive straightaway. The person had great “english” skills but was very friendly in answering my queries. He said there are no charges for SMS alerts but that I will be charged for my ATM card. I was shocked because when I asked the manager himself last month while opening the account he said there were no service charges for ATM card. Now I’ve to cancel the ATM card.
@B@R_0_0_D wrote:@viveka wrote:
What can we do in case of malpractices occurring on a Sunday?
kisine cybercrime karna hoga to office working time me alert a jane se bhi aap kya ukhar loge ?
1. Mumbai police staff acc/ in Axis bank hacked by scammer machine in ATM at Mumbai Police HQ ATM, used the cloned card in Nigeria etc.
2. Alert is the safety for next transactions after the crime, and for saving other accounts.
Uncle, ek responsible banker ki tarah jawab dijiye.
Forget Indian Police. Tell us what our other options are.
DAN wrote:
viveka wrote:
Venkat wrote:
Haha
Try this 18004254445
Wow! Where did you get that bro? It worked, though in a queer way. Because the IVR asked to opt for a language by pressing a number but did not wait for me to do that but connected to the executive straightaway. The person had great “english” skills but was very friendly in answering my queries. He said there are no charges for SMS alerts but that I will be charged for my ATM card. I was shocked because when I asked the manager himself last month while opening the account he said there were no service charges for ATM card. Now I’ve to cancel the ATM card.
No need to cancel ATM,
The SBI CC exec said the same to me at first that 15 is ATM charge. When i told him The ATM charges are 100 PA then he corrected that it is SMS charge for ATMs.
now read this
“RBI DIRECTIVE : More important, with effect from July 1, 2011, the RBI has instructed banks to send out SMS alerts for all card transactions, irrespective of the channel used; ATM, phone banking, Net banking, whatever. (from http://www.thehindubusinessline.com/industry-an... )
(read the original RBI directive here http://rbi.org.in/scripts/NotificationUser.aspx... )
So may be the banks are classifying this sms service charge as a part of (extra) ATM charges. Earlier banks used to give this for free, but now they are charging as the RBI directive does not say the SMS needs to be free.
wow great info dan….
@ viveka
right now i am watching special 26
so Police Hands > chor hands
chor tech> Police tech.
(i dont know who is speaking responsible banker or ir-responsible friend)
DAN wrote:
No need to cancel ATM,
The SBI CC exec said the same to me at first that 15 is ATM charge. When i told him The ATM charges are 100 PA then he corrected that it is SMS charge for ATMs.
now read this
“RBI DIRECTIVE : More important, with effect from July 1, 2011, the RBI has instructed banks to send out SMS alerts for all card transactions, irrespective of the channel used; ATM, phone banking, Net banking, whatever. (from http://www.thehindubusinessline.com/industry-an... )
(read the original RBI directive here http://rbi.org.in/scripts/NotificationUser.aspx... )
So may be the banks are classifying this sms service charge as a part of (extra) ATM charges. Earlier banks used to give this for free, but now they are charging as the RBI directive does not say the SMS needs to be free.
No bro. I’m talking about the annual service charges for ATM card (Rs.112/- in the case of IOB). The manager said there were no charges for using ATM cards.
@B@R_0_0_D wrote:@
conclusion: police & banker should hire people like u (tech savvy) to avoid phishing and pharming.
(i dont know who is speaking responsible banker or ir-responsible friend)
You are responsible either way, uncle.
viveka wrote:
DAN wrote:
No need to cancel ATM,
The SBI CC exec said the same to me at first that 15 is ATM charge. When i told him The ATM charges are 100 PA then he corrected that it is SMS charge for ATMs.
now read this
“RBI DIRECTIVE : More important, with effect from July 1, 2011, the RBI has instructed banks to send out SMS alerts for all card transactions, irrespective of the channel used; ATM, phone banking, Net banking, whatever. (from http://www.thehindubusinessline.com/industry-an... )
(read the original RBI directive here http://rbi.org.in/scripts/NotificationUser.aspx... )
So may be the banks are classifying this sms service charge as a part of (extra) ATM charges. Earlier banks used to give this for free, but now they are charging as the RBI directive does not say the SMS needs to be free.
No bro. I’m talking about the annual service charges for ATM card (Rs.112/- in the case of IOB). The manager said there were no charges for using ATM cards.
(assuming the manager was not lying) Your case sounds similar to Canara bank, Canara bank also gave card for free but now they are charging.
http://www.moneylife.in/article/banks-start-cha...
I will not suggest to cancel ATM card. you will have to pay like all of us or else keep running to crowded banks whenever needed.
SBI customers who have discontinued this service from Online banking? did it come into effect. ?
any comments
SBI to charge customers Rs 60 per year for SMS alerts
Economic Times
30 June 2013
NEW DELHI: State Bank of India (SBI) customers will have to pay Rs 60 per year for getting SMS alerts, a move which is likely to be followed by other public sector lenders.
“With effect from quarter ending June 2013, SMS charges of Rs 15 inclusive of service tax per quarter will be recovered,” SBI said in an announcement.
The country’s largest bank, which has about 18.5 crore customers, did not specify whether the charges are for special alerts only or even debit or credit card transaction alerts sent as per regulatory guidelines will also come under this.
Private sector banks ICICI and HDFC are already charging Rs 60 per year, excluding service tax, for sending special SMSes other than withdrawal and deposit alerts to its customers.
At present, service tax rate is 12 per cent and education cess is 3 per cent of the service tax amount.
Kotak Mahindra Bank charges Rs 25 per quarter for SMS alerts and updates.
DAN wrote:
I will not suggest to cancel ATM card. you will have to pay like all of us or else keep running to crowded banks whenever needed.
No bro. This account was started to avail gold loan. But I finally availed it from SBI instead. So, it’s almost a good for nothing account which already has my 500 rupees as minimum balance. Now every year it will eat 112 rupees of that for nothing worthwhile. So, I’m planning to surrender my ATM card. Have not contacted the branch yet. Will do it in this week’s time.
good
_
RBI asks banks to keep uniform charges for same services
The ND-TV News
The Reserve Bank of India (RBI) directed lenders on Monday not to discriminate against their customers and follow a uniform, fair and transparent pricing policy.
The apex bank said banks should not discriminate between their customers at home branch and non-home branches under the core banking solutions (CBS) platform.
“Accordingly, if a particular service is provided free at home branch the same should be available free at non-home branches also. There should be no discrimination as regards intersol charges between similar transactions done by customers at home branch and those done at non-home branches,” RBI said in a directive.
Charges levied by banks on their customers for products and services are called intersol charges.
The RBI said banks were seen to be discriminating against their own customers and providing services and products without any charge for the branch designated as ‘home’ or ‘base’ branch, while at non-home branches charges were levied for the same services and products.
It said intersol charges were not uniform across home and non-home branches and this practice by some banks was contrary to the spirit of the RBI guidelines on reasonableness of bank charges.
“As intersol charges are charges levied by the bank to cover the cost of extending services to customers by using the CBS/internet/intranet platform, the cost should be branch/customer agnostic in-principle,” it said. It is clarified that cash handling charges may not be included under intersol charges, it further said.
Get alerts for banking frauds
If you are contemplating asking your bank
not to send alerts because of the charges, think again
The Business Standard
Credit- and debit-card frauds are a big problem for banks as well as customers. Last month, fraudsters hacked into the Axis Bank salary accounts of some Mumbai police personnel and withdrew money. It was suspected that the money was withdrawn from ATMs abroad. A couple of months before this, a customer of YES Bank had suffered a loss of Rs 1 crore from his bank account in 12 transactions using the real-time gross settlement system (RTGS).
This shows one should always keep a tab on one’s bank and credit card accounts.
Banks offer a number of options by way of emails and text messages that alert the cutstomer of any activity in these accounts. Earlier, banks offered this value-added service free of cost. However, many banks have now started charging for it. Private-sector lenders HDFC Bank and ICICI Bank took the lead. Now public-sector lenders such as the State Bank of India (SBI) and Punjab National Bank (PNB) have started charging for SMS alerts. Obviously, this has not gone down well with many bank customers.
“Earlier, SMSes were cheap; hence, banks could bear the cost. Now, the Telecoms Regulatory Authority of India (Trai) has increased SMS charges. Besides, many others such as intersol charges have now been asked to be at par in home and non-home branches of banks. Hence, banks have had to start charging for SMSes,” explains K R Kamath, chairman and managing director of PNB. Intersol charges are outstation-cheque-collection charges and fund-transfer charges.
ICICI Bank and HDFC Bank charge Rs 60 a year to savings account holders and Rs 100 a year to current account customers. From July 1, both the SBI and PNB decided to charge Rs 15 per quarter for SMS alert services. PNB, however, will not charge senior citizens, retired people and students.
Look at these charges as a small fee towards protecting your bank or credit card account. It will help you get a alerted in no time against any fraudulent transaction in your account.
Most customers are unhappy that an SMS alert helps only once a fraud has been committed. There is no system to avert frauds in the first place.
“There have been instances where a fraudster comes back to an account or credit card after having duped a customer once. These alerts may not avert the first fraud but they do help you avoid a repeat attack. Because once a fraud is reported, banks flag an account and any transaction after that goes through extra scrutiny,” says R S Sangapure, general manager (retail), Central Bank of India. Of course, you need to prove that the fraud did not take place because of your mistake, such as providing your account details to a friend or relative.
A simple fraud, where only one account is involved and the incident easily identifiable, can take up to 15-20 days to be resolved. A complicated fraud, where the money has gone through multiple accounts before landing in the fraudster’s pocket, can take up to three months to resolve.
If you are contemplating asking your bank not to send alerts because of the charges, think again. The alerts do help prevent high-tech frauds. If you haven’t enrolled for it yet, call up phone banking or register online.
pennychaser wrote:
SBI has also started charging for SMSes…….Just saw my statement. Rs. 17 has been charged for SMSes
15rs
DAN wrote:
viveka wrote:
DAN wrote:
SBI has already deducted money from my account also, ( and I have not recieved any notification )
DEBIT
SERVICE.CHARGES.FOR.JUN.2013…………………. Rs 15
It’s Rs.17 for me. Why difference in amount?
No Idea bro. All I know SBI has stolen 15 Rs without even informing me
Edit: Just called Toll free 1800 425 3800 and checked. They said this is Rs 15 Charge for SMS alerts on the ATM card. for the Quarter ending June. when asked how to stop ? he said Please contact Bank.
Edit2: SMS alert on XXXXXXXXX3, disabled successfully.
Disabled via online banking. Dont want this paid service anymore.
mera bhi atm use nhi hota…
where is the option of disabling it?
finally decided to pay 60rs…per annum
@B@R_0_0_D wrote:@
h4. Get alerts for banking frauds
If you are contemplating asking your bank
not to send alerts because of the charges, think again
The Business Standard
Credit- and debit-card frauds are a big problem for banks as well as customers. Last month, fraudsters hacked into the Axis Bank salary accounts of some Mumbai police personnel and withdrew money. It was suspected that the money was withdrawn from ATMs abroad. A couple of months before this, a customer of YES Bank had suffered a loss of Rs 1 crore from his bank account in 12 transactions using the real-time gross settlement system (RTGS).
This shows one should always keep a tab on one’s bank and credit card accounts.
Banks offer a number of options by way of emails and text messages that alert the cutstomer of any activity in these accounts. Earlier, banks offered this value-added service free of cost. However, many banks have now started charging for it. Private-sector lenders HDFC Bank and ICICI Bank took the lead. Now public-sector lenders such as the State Bank of India (SBI) and Punjab National Bank (PNB) have started charging for SMS alerts. Obviously, this has not gone down well with many bank customers.
“Earlier, SMSes were cheap; hence, banks could bear the cost. Now, the Telecoms Regulatory Authority of India (Trai) has increased SMS charges. Besides, many others such as intersol charges have now been asked to be at par in home and non-home branches of banks. Hence, banks have had to start charging for SMSes,” explains K R Kamath, chairman and managing director of PNB. Intersol charges are outstation-cheque-collection charges and fund-transfer charges.
ICICI Bank and HDFC Bank charge Rs 60 a year to savings account holders and Rs 100 a year to current account customers. From July 1, both the SBI and PNB decided to charge Rs 15 per quarter for SMS alert services. PNB, however, will not charge senior citizens, retired people and students.
Look at these charges as a small fee towards protecting your bank or credit card account. It will help you get a alerted in no time against any fraudulent transaction in your account.
Most customers are unhappy that an SMS alert helps only once a fraud has been committed. There is no system to avert frauds in the first place.
“There have been instances where a fraudster comes back to an account or credit card after having duped a customer once. These alerts may not avert the first fraud but they do help you avoid a repeat attack. Because once a fraud is reported, banks flag an account and any transaction after that goes through extra scrutiny,” says R S Sangapure, general manager (retail), Central Bank of India. Of course, you need to prove that the fraud did not take place because of your mistake, such as providing your account details to a friend or relative.
A simple fraud, where only one account is involved and the incident easily identifiable, can take up to 15-20 days to be resolved. A complicated fraud, where the money has gone through multiple accounts before landing in the fraudster’s pocket, can take up to three months to resolve.
If you are contemplating asking your bank not to send alerts because of the charges, think again. The alerts do help prevent high-tech frauds. If you haven’t enrolled for it yet, call up phone banking or register online.
What is this nonsense by Business Standard? Standard of reporters is going down…
As already mentioned, they can’t charge for transaction alerts. The charges are for other things things like regular balance alerts, etc. And all alerts by email are free. Its clearly mentioned, at least by HDFC.
I deactivated mine days ago. I avoid all extra charges. Don’t get misinformed by such articles.
i disabled in one of two accounts which i rarely use . ’m happy to pay 15rs/quater for another account .
viveka if that’s a primary account i would suggest u not to disable 60rs/year is not a big money ,this sms feature is very help full in many ways .this feature vl update u on each n every transaction happend in ur account.