What is SMS Banking Services?
1. What is SMS Banking?
This is a service that allows customers to access their account information via mobile phones. SMS banking services are operated by using both push and pull messages. Push messages are those messages that the bank chooses to send out to a customer’s mobile phone, without the customer initiating a demand for the information.
Poll messages are those that are initiated by the customer, using a mobile phone, for obtaining information or performing a transaction in the bank account.
In other words, we can say SMS is the shorter term for Short Message Service used by many mobile telephone service providers. Similarly, SMS banking is defined as banking transactions carried out using SMS message service. In order to use SMS banking services with any bank, initially, you need to have a mobile telephone number and a valid SIM card from a mobile telephone service provider. Then these mobile phone details have to be registered with your bank which provides the SMS banking services.
2. What are the features of SMS Banking?
- Safety: All transactions above a value desired are intimated to you as and when they happen, so you are always kept updated on your transactions
- Convenience: No need to queue in a branch or ATM to check your account.
- Updates: Get automatic updates on deposits/loan instalments due, interest rate changes, and new products.
- Availability: This service is available from anywhere in the world, even when you are on the move.
3. Who can apply for this service?
Customers who maintain an account, with a Bank having an Internet banking facility, enabled for the account.
4. How to sign up?
Currently, all the customers who are users of Internet Banking facilities can avail of this facility.
The registration process is given below:
a. If the customer is currently availing an internet banking facility, the customer needs to submit a letter in the Specified format to the branch of his bank stating that the customer is an internet banking user and wants to avail SMS banking facility. Customers need to download the SMS Banking (PULL) application from Internet Banking and specify in the application form that they want to avail SMS Banking facility.
b. When for the customer SMS Banking (PULL) facility is enabled. In customer Internet Banking SMS Banking menu option will be enabled. Then the customer has to login to the internet banking facility and has to access the menu SET SMS PASSWORD under the CUSTOMIZE menu option to set the password that the customer will be used to avail the SMS Banking facility.
c. On setting the password the customer can avail of the SMS banking facility. The response will be received on the mobile number of the customer.
- Account balance Inquiry
- Cheque Status Inquiry
- Password Change
- Suspending Self
- Transaction Inquiry
6. How to use this service?
The customer has to send an SMS through their mobile to a five-digit number (such as 56161) in specific format provided by the bank.
7. What happens if the mobile number changes?
If the customer Changes the Mobile number he has to again register the new mobile number in his Internet Banking to his bank.
8. Where can I get a copy of the SMS Banking list of services?
The said list of all services can be seen in the Internet Banking service arena.
9. Can I do my financial transaction i.e. fund transfer, bills payment, etc. via SMS Banking?
No, this service is only for Non Financial inquiries and requests.