India's second largest private sector lender, HDFC Bank will be charging its customers for its InstaAlert SMS service from April 1. Under InstaAlert SMS service, the bank provides real-time alerts on account activities.
This service allows customers to keep record of various payments and receipts, get reminder for timely payment of utility bills and receive intimations when balance falls below a pre-specified limit, among other account activities.
"Effective April 1, 2013, customers registered for InstaAlerts through ‘SMS' will be charged," HDFC bank said in a notification. However, InstaAlerts delivered to customers through Emails would remain free.
Customers registered for InstaAlert service with ‘SMS' as the delivery channel will be charged Rs 15 per quarter in case of salary or savings accounts, while the charge would be Rs 25 per quarter for Current Account customers.