Beginning this October, the state owned Canara Bank will start charging Rs 60 for customers opting for the SMS alert facility. However, senior citizens, basic bank account holders, small saving account holders and financial savings account holders will not be included in the new scheme. They will be availed the service for free. As per a notification from the Canara Bank, it want to inform customers that the bank is compelled to charge Rs 15 for every quarter for SMS alerts starting from 1st October, 2013 due to the changing industry trend.
In March 2011, the RBI has asked all national banks to issue SMS alerts to customers for all types of transaction from an account irrespective of the amount. However, there haven’t been any guidelines on the charges for the service. State owned banks including SBI, State Bank of Patiala, Vijaya Bank and IDBI Bank currently charge for SMS alert service.