SMS Banking

Through SMS banking, Bank clients can get different types of information like account balance, card payment, loan installment & other information by mobile SMS. SMS Banking provides both Push & Pull SMS. Push SMS are those that the bank chooses to send to a customer’s mobile phone without customer’s request. Pull SMS are those that are initiated by the customer by sending SMS to bank to get specific information like account balance enquiry, mini statement, currency exchange rates, deposit interest rates, etc.
Normally Push SMS provides following message

• Periodic account balance reporting
• Reporting of salary and other credits to the bank account
• Successful or un-successful execution of a standing order
• Successful payment of a cheque issued on the account
• Insufficient funds
• Large value withdrawals on an account
• Large value withdrawals on the ATM or POS on a debit card
• Large value payment on a credit card or out of country activity on a credit card

Normally Pull SMS provides following message

• Account balance enquiry
• Mini statement request
• Electronic bill payment
• Transfers between customer’s own accounts
• Stop payment instruction on a cheque
• Requesting for an ATM card or credit card to be suspended
• De-activating a credit or debit card when it is lost
• Foreign currency exchange rates enquiry
• Fixed deposit interest rates enquiry

List of some banks which have SMS Banking Service