HDFC Bank News: Now the use of UPI has increased for small transactions as well. When you make a payment or money comes to your account from somewhere, even if the amount is just one rupee, you get an alert through an SMS i.e. text message. However, this will not happen now and HDFC Bank has sent information related to this to its customers.
HDFC Bank News: When you make a payment or money comes to your account from somewhere, even if the amount is just one rupee, you get an alert through an SMS i.e. text message. However, it is not necessary to get a text alert for every transaction now. HDFC Bank, a leading private sector bank, has decided to stop text alerts for transactions of lesser amount. This decision of HDFC Bank will come into effect from June 25 next month. The bank has sent information about this to its customers.
HDFC Bank will not send SMS for transactions up to how much amount?
According to the information sent by HDFC Bank to its customers, SMS related to transactions of lesser value will not be sent from June 25. However, the alert limit is different for both receiving and sending money. According to the information sent by the bank, now SMS alert will not come for expenses less than Rs 100. Apart from this, alert will not be received for credit up to Rs 500. However, e-mail alert will be available for every transaction. In such a situation, the bank has asked all its customers to update their mail ID so that they can get alerts of every transaction on their mail.
Average transaction value is decreasing
For the last few years, the average value of transactions through UPI has been gradually decreasing. It decreased by 8 percent from Rs 1648 in the second half of the year 2022 to Rs 1515 in the second half of 2023. From this, it can be guessed that now the use of UPI has increased even for small transactions. According to the report of Worldline India, the three major UPI apps in the country in terms of volume and value of transactions are PhonePe, GooglePay and Paytm. According to the data of National Payments Corporation of India (NPCI), transactions through UPI crossed the figure of 10 thousand crores in the calendar year 2023 and reached around 11.8 thousand crores.
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