Home Sms code Sbi waives SMS fees on mobile money transfers: how to take advantage of it?

Sbi waives SMS fees on mobile money transfers: how to take advantage of it?

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By CNBCTV18.com STI (Update)

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New SBI Rule: With the removal of SMS fees, customers can now transact without paying additional fees using USSD services.

The State Bank of India (SBI), the country’s largest lender, has decided to scrap SMS charges on mobile money transfers. With the removal of SMS fees, customers can now transact without paying additional fees using USSD services, the bank said in a post on Twitter.

By using mobile banking with the code *99#, users can access basic banking services such as money transfers and account statements without a smartphone or an internet connection.

This service works on feature phones, the bank said.

Services that can be used through the Service include: send money, request money, check account balance, get mini-statement and change UPI PIN.

USSD is a service that can be used to transfer money, check account balance, generate bank statements and many more things.

In other developments, SBI raised the benchmark prime rate by 70 basis points. With the increase, the revised rate is now 13.45%.