HDFC Bank SMS Alerts: HDFC Bank will discontinue SMS alerts for UPI transactions less than Rs 100 from June 25, 2024

New Delhi. The use of UPI cost is growing within the nation. UPI helps us all over the place, whether or not it’s to purchase on a regular basis items or to ship cash to somebody.

If you employ the account of HDFC Bank, the biggest personal sector financial institution, for UPI cost, then you should watch out. Actually, HDFC Bank has introduced a giant replace for its buyer. Bank prospects will not get SMS for UPI transaction of less than a certain quantity. This resolution is coming into impact from June 25, 2024.

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In the data despatched by the financial institution to the purchasers, it has been instructed that some modifications are being made in your SMS alert service from June 25, 2024. If you ship an quantity of extra than Rs 100 to somebody by way of UPI, solely then SMS alert will be despatched. Apart from this, SMS alert will be despatched provided that you obtain an quantity of extra than Rs 500. However, e-mail alerts will proceed to be despatched for all varieties of transactions.

Why is HDFC Bank making modifications relating to SMS?

Banking rules require textual content messages for each transaction above Rs 5,000. Despite this, many banks ship messages even for low-value debits. According to bankers, the price of bulk SMS messages is Rs 0.01-0.03 per SMS. The day by day common of UPI transactions is round 40 crore, whereas banks spend a number of crores on textual content message alerts day by day.

UPI facility was began within the yr 2016.

Let us let you know that Unified Payment Interface i.e. UPI is an actual time cost system. UPI cost system was began within the yr 2016. UPI system is operated by National Payment Corporation of India (NPCI).

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