NEWS & ADVICE : CREDIT CARDS
Banks to charge Fix amount for SMS service.
By Ankit Sharma
Dec 16, 2013
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Banks are considering to charge a fix amount of Rs 5-10 per month, rather than charging for every transaction. Central bank has asked the banks to charge the customers on the basis of the actual usage, but banks may find it difficult to manage the record of alerts sent to each customer. Banks are planning to fix the amount to be charged Earlier the banks were charging Rs 15 per quarter from the SMS facility.

A private bank official reported that banks are not in favour with RBI. In order to avoid trouble of managing records banks have asked RBI to charge the fix amount.

To enhance the use of Credit cards in 2009, the RBI asked Banks to bring the SMS system. The SMS facility will control the skimming cases and will also help customers to use credit cards without worry.


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