SBI has imposed Rs 15 Per quarter charges on Savings account customers for SMS alerts. Are these charges fair? Why there is no opt-out? Why did they announce it at end of quarter just before deducting charges from accounts?
(ICICI Bank has imposed simillar charges, however there is opt out. The charges don’t apply for mandetory SMS enforced by RBI but are applicable for additional SMS which bank provides. http://icicibank.com/mobile-banking/alerts.html)