New Delhi. The use of UPI payment is increasing in the country. UPI helps us everywhere, whether it is to buy everyday goods or to send money to someone.
If you use the account of HDFC Bank, the largest private sector bank, for UPI payment, then you need to be careful. Actually, HDFC Bank has brought a big update for its customer. Bank customers will not get SMS for UPI transaction of less than a certain amount. This decision is coming into effect from June 25, 2024.
In the information sent by the bank to the customers, it has been told that some changes are being made in your SMS alert service from June 25, 2024. If you send an amount of more than Rs 100 to someone through UPI, only then SMS alert will be sent. Apart from this, SMS alert will be sent only if you receive an amount of more than Rs 500. However, email alerts will continue to be sent for all types of transactions.
Why is HDFC Bank making changes regarding SMS?
Banking regulations require text messages for every transaction above Rs 5,000. Despite this, many banks send messages even for low-value debits. According to bankers, the cost of bulk SMS messages is Rs 0.01-0.03 per SMS. The daily average of UPI transactions is around 40 crore, while banks spend several crores on text message alerts every day.
UPI facility was started in the year 2016.
Let us tell you that Unified Payment Interface i.e. UPI is a real time payment system. UPI payment system was started in the year 2016. UPI system is operated by National Payment Corporation of India (NPCI).
