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Axis Bank to charge 25paise per sms from 15th December 2024

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sidp

sidp

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I just got a intimation from axis that mandatory sms as per rbi regulation ( I guess intimation for change in balance/settings change) will be charged 25p/sms with maximum charges being RS15 /qtr.

Anyone else got this intimation? Is this just for account holders or for cc holders as well?

@HumorSimpson this is your cue
Insert end Is near meme. 🤣

@mods please move to rbi guideline/bank account section. I mistakenly posted in credit score section.
 

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If you are being charged Rs 15 a month for SMSes, you are doing 60 transactions a month. The amount of time saved is probably multiple times that. People are getting too worked up about this charge. Closing your account is going too far. Sooner or later all banks will go down this road. All banks are profit making entities and will seek every avenue possible to get higher and higher profits. If they are listed on the stock exchanges, investors and shareholders will push them to increase profits even if they don't want to introduce these charges.
 
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dexter_greycells said:
If you are being charged Rs 15 a month for SMSes, you are doing 60 transactions a month. The amount of time saved is probably multiple times that. People are getting too worked up about this charge. Closing your account is going too far. Sooner or later all banks will go down this road. All banks are profit making entities and will seek every avenue possible to get higher and higher profits. If they are listed on the stock exchanges, investors and shareholders will push them to increase profits even if they don't want to introduce these charges.
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It's not about 60 transactions, its about 60 sms only and for every transaction we get minimum 2 sms and if you deactivate and activate card with every transaction it will be 3 sms with one transaction and if that fails 4 sms for a single transaction, this is totally insane.
 
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aniketkr.sharma said:
It's not about 60 transactions, its about 60 sms only and for every transaction we get minimum 2 sms and if you deactivate and activate card with every transaction it will be 3 sms with one transaction and if that fails 4 sms for a single transaction, this is totally insane.
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Well, all that I can say is that a relationship with a PSU bank (not SBI) would have prepared you for this. We got accounts in BoI, Central Bank and Saraswat and we have been long used to this.
 
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dexter_greycells said:
Well, all that I can say is that a relationship with a PSU bank (not SBI) would have prepared you for this. We got accounts in BoI, Central Bank and Saraswat and we have been long used to this.
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I understand you guys are from that generation where sms and calls are charged heavily, but now the generation seems to be used for free stuffs if paying the fees that is bundled already, and if someone trying to get back old days they are also expecting same from government in terms of taxes what are they paying for. Already we are on peak of taxes from most of the developed & developing countries and still now banks are trying to extract a single penny, then why relationship?
 
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Ekavya said:
Applicable for Axis Credit cards?
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Imagine paying 15₹ for a @D₹V (Do ₹upya Verification)
Game Show Gambling GIF by INTO ACTION
 
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dexter_greycells said:
If you are being charged Rs 15 a month for SMSes, you are doing 60 transactions a month. The amount of time saved is probably multiple times that. People are getting too worked up about this charge. Closing your account is going too far. Sooner or later all banks will go down this road. All banks are profit making entities and will seek every avenue possible to get higher and higher profits. If they are listed on the stock exchanges, investors and shareholders will push them to increase profits even if they don't want to introduce these charges.
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Sorry, but this thread is to make fun of Axis Please refrain from making sensible posts.


just kidding, jo karna hai karo
 
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dexter_greycells said:
If you are being charged Rs 15 a month for SMSes, you are doing 60 transactions a month. The amount of time saved is probably multiple times that. People are getting too worked up about this charge. Closing your account is going too far. Sooner or later all banks will go down this road. All banks are profit making entities and will seek every avenue possible to get higher and higher profits. If they are listed on the stock exchanges, investors and shareholders will push them to increase profits even if they don't want to introduce these charges.
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but how fair it is without providing disable options because these are mandate by rbi. So, you have no choice but to accept?
 
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