ICICI and HDFC Banks to charge for sms alerts now

mhsabir

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http://www.icicibank.com/mobile-banking/alerts.html
Please note with effect from May 1, 2013 all Savings Account customers availing Alerts facility through an SMS will be charged Rs. 15 per quarter (inclusive of taxes).
In case you wish to de-register for the SMS alert facility, please visit your nearest ICICI Bank Branch.
I wonder whats the sitaution for corporate salary accounts.
 

Sushubh

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I do not even get sms alerts on my account for all transactions even though it is enabled. Do they offer email alerts? I do not remember getting any.
 

ashish

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You will get alerts only on transactions above rs 5000.
Now almost every bank is charging this absurd rs 15 for alerts, which should be included as a basic facility for preventing/alerting frauds in the A/C. already they have so many frivolous charges relating to banking activity. if they had waived off MAB then somewhat charges are justified. Since savings bank interest rates were deregulated in october 2011 only few banks offer higher interest rates of more than 4 % on savings a/c. If they were charging for alerts then it is understandable
Dunno what RBI is doing
 

Sushubh

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I guess RBI would soon come out with another regulation stating the obvious. No charges for transaction alerts. These companies do not learn anything unless the RBI spanks them in the buttocks.
Same applies for mobile companies.
 

hitman

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I was under impression tht the fee they charge for debit card includes sms costs also .. They keep adding charges everywhere .. :(
But they do send emails alerts also .. Which r also instant .. Since everyone nowadays have smart phone so they can disable the sms alerts cos they will get notifications anyways by push email notifications ..
 

moindear

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This is ridiculous, sms alerts are for safety and why do they charge for it, arent they already charging to maintain the bank account?
 


mhsabir

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Yup. Just realized its across banks
HDFC:
Effective 1st April 2013, customers registered for InstaAlert service with ‘SMS’ as the alert delivery channel, would be charged as follows:Salary/Savings Account : Rs. 15/- per quarterCurrent Account : Rs. 25/- per quarterPlease note:Customers who have selected only 'Email' as the delivery channel for receiving InstaAlerts will not be charged.Debit/Credit Card Transaction alerts sent as per regulatory guidelines and NetBanking transaction alerts do not form part of InstaAlert Service. Customers who are not registered for InstaAlert service will continue to get these alerts free of charge
 

mhsabir

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I just did for HDFC. ICICI wants you to visit bank.
ICICI, I have a salary account & I am hoping I dont have to go. The funny part you know, I followed up for 3-4 times over the last 2 years to make sure I get alerts & I started getting only some 2-3 months ago.
 

Sushubh

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Just checked ICICI Bank website. No options available to subscribe for updates through sms or email. I guess I would have to visit the local branch myself.
 

Sushubh

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The bank is in my local market (walking distance) and unlike most other branches in Gurgaon, it remains quite empty through the morning. I actually visit there just for fun because I am literally attacked by folks working there to subscribe to a credit card or savings plan everytime I go there no matter for how small a reason. :)
 

Sushubh

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My primary reason to go is to activate email alerts because I do not get any alerts... None on mobile. None on emails. In fact, I just turned on email statements in ICICI Online Banking because I do not remember getting any kind of statements in the recent past! It has not mattered much because their online banking site lets me download statements without any limitations. The format is horrible of course.