HDFC Bank Update: According to the information given by the bank to the customers, now SMS alerts will not be received for expenses less than Rs 100 through UPI. Apart from this, alerts will not be received for credit up to Rs 500. However, e-mail alerts will be received for every transaction.
Whenever you make a transaction through UPI, your bank informs you by sending an SMS alert. Whether you make a payment of Rs 1,000 or Rs 1, you get to know through SMS that money has been withdrawn from your account. But now it is not necessary that the bank sends you an alert on every transaction.
In fact, the leading private sector bank HDFC has decided to stop SMS alerts on transactions of small amounts. This decision of the bank will come into effect from June 25. The bank has recently informed its customers about this. According to the information sent by HDFC Bank to its customers, SMS related to transactions of lesser value will not be sent from June 25. However, the alert limit is different for both receiving and sending money.
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According to the information given by the bank to its customers, SMS alert will no longer be received for spending less than Rs 100 through UPI. Apart from this, alert will also not be received for credit up to Rs 500. However, e-mail alert will be received for every transaction. In such a situation, the bank has asked all the customers to update their mail ID so that they can get alert of every transaction on mail.
The use of UPI has increased for small transactions.
For the last few years, the average value of transactions through UPI has been gradually decreasing. It has decreased by 8 percent from Rs 1,648 in the second half of 2022 to Rs 1,515 in the second half of 2023. From this, we can guess that the use of UPI is increasing for small transactions.
According to the report of Worldline India, the three major UPI apps in the country are PhonePe, GooglePay and Paytm, in terms of volume and value of transactions. According to the data of National Payments Corporation of India (NPCI), transactions through UPI crossed the figure of 10 thousand crores in the calendar year 2023 and reached around 11.8 thousand crores.
