Did you know that your bank is debiting money
from your account for providing SMS alerts? If you didn't, it's time you
checked the last bank statement or the passbook.
Banks, led by State Bank of India, ICICI Bank and Axis Bank, are charging Rs 60 annually to send text messages about cash withdrawals and other facilities. Others such as Canara Bank are charging more than Rs 100, while HDFC Bank said they were levying a Rs 60 fee only for "special alerts" such as bounced cheques, salary credits or the balance going below a specified level. Besides, the service was optional, it said. IDBI Bank and Vijaya Bank have excluded savings bank accounts from the paid SMS alert service.
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