State Bank Of Pakistan is making many changes to the existing policies. We have a good news for you that SBP has recently ordered all the banks and financial service providers to end charges for SMS Alerts. So, from January 2019 onwards, you will not have to pay for the SMS Alerts anymore.
Charges For SMS Alerts To End In January 2019
Recently, a new set of directives was released by State Bank Of Pakistan. Their purpose is basically to combat cybercrimes in Pakistani Banks. We all know that banks charge almost 100 Rs per month for keeping you aware of your transactions. Whenever you withdraw money from ATM or make an online payment, you are being sent SMS Alert. However, this service is very useful but most of the people don’t want to pay charges for it. So, now SBP has resolved their problem. The banks and service providers will not charge on SMS alerts from January 2019.
State Bank Of Pakistan Stated that:
“The change of policy is the result of instructions the central bank has issued to commercial banks whose poor state of information security was exposed by a recent wave of cyber-attacks. Banks and financial service providers shall send free transaction alerts to their customers through both SMS and email for all international and domestic digital transactions.”