Axis Bank SMS alert charges to change from tomorrow. Details here


Axis Bank, the country’s third-largest private sector bank, has hiked various service charges for its savings bank account holders. While some of these changes came into effect from 1 May 202, some other revised charges will be effective from July 1. The private sector lender has increased cash withdrawal charges from ATMs beyond the free limit. Also, it has increased the minimum balance requirements for various types of savings accounts.

The Bank had recalibrated its SMS charges following the new regime introduced by the telecom regulatory authority. The bank has said that from July 2021 it will charge customers 25 paise for every SMS alert subject to a maximum of 25 a month. This will not include promotional text messages or messages sent to the customer or the OTP sent for authentication of transactions.

“Due to a recent change by the telecom regulator, Axis Bank has also recalibrated its SMS charges. Instead of charging a flat fee of 5 every month, it will now charge 25 paise for every SMS alert, subject to a maximum of 25 per month, effective July 1 (except for one-time passwords promotional messages) sends you,” Axis Bank had posted on its website.

Meanwhile, Axis Bank has inked a multi-year deal with Amazon Web Services (AWS) to power the digital transformation programme

As part of the agreement, Axis Bank will draw on the breadth depth of AWS services to build a portfolio of new digital financial services to bring advanced banking experiences to customers, including online accounts that can be opened in under six minutes instant digital payments.

Axis Bank has over 200 million customers who increasingly demnew innovative digital banking services, including digital deposits, digital loans, digital credit cards, to better manage their finances.

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