Country's second largest private sector lender HDFC Bank will begin charging its customers from Monday, for its InstaAlert SMS service, under which the bank provides real-time alerts on account activities.
The bank's InstaAlerts service allows customers to keep a track of various payments and receipts, get reminders for timely payment of utility bills and receive intimations when balance falls below a pre-specified limit, among other account activities.
"Effective April 1, 2013, customers registered for InstaAlerts through 'SMS' will be charged," the bank said in a notification. However, InstaAlerts delivered through Emails would remain free.
Customers registered for InstaAlert service with 'SMS' as the delivery channel will be charged Rs. 15 per quarter in case of salary or savings accounts, while the charge would be Rs. 25 per quarter for Current Account customers.
Customers usually register InstaAlert service for alerts like debit transactions greater than a certain amount, credit in account greater than a specified sum, account balance below the minimum funds and weekly account balance. The alerts can be either event-based or frequency based.
The bank said that debit/credit card transaction alerts sent as per regulatory guidelines and NetBanking transaction alerts are not part of InstaAlert service. Customers who are not registered for InstaAlert service will continue to get these alerts free of charge, it added.
Both resident and non-resident Indian customers are eligible for InstaAlert service on their savings or current accounts with HDFC Bank.