HDFC Bank will stop 5SMS alerts for UPI transactions below ₹100 from June 2, 2024, aiming to reduce clutter and enhance notification relevance, while email alerts will continue unchanged.
In an effort to streamline its notification process, HDFC Bank has announced a significant update regarding SMS alerts for UPI transactions below ₹100. Effective June 25, 2024, customers will no longer receive SMS notifications for transactions below this threshold.
However, they will still receive text notifications for transactions above ₹100 or if they receive more than ₹500 via UPI.
This adjustment comes in response to shifting trends in UPI transactions. With the average value of transactions decreasing over time, there has been a noticeable increase in smaller, more frequent payments.
In 2023 alone, UPI transactions exceeded 100 billion, reaching approximately 118 billion by the year's end, according to data from the National Payments Corporation of India (NPCI).
Despite the cessation of SMS alerts for low-value UPI transactions, HDFC Bank assures customers that email alerts for all transactions will persist. This means that customers will continue to receive email notifications for every transaction, regardless of value.
HDFC Bank made this change based on valuable feedback from its customers. Many customers expressed that receiving notifications for low-value transactions was unnecessary, especially considering that UPI payment apps already send similar notifications.
This redundancy led to clutter and potentially overlooked important alerts. By focusing SMS notifications on transactions above ₹100 or exceeding ₹500 via UPI, HDFC aims to provide a more streamlined and relevant notification experience for its customers.
In light of this adjustment, HDFC Bank advises its customers to ensure that their primary email addresses are up to date. This ensures that they continue to receive all transaction notifications promptly via email.
Keeping contact information current is crucial for maintaining seamless communication between the bank and its customers.
Conclusion
HDFC Bank's decision to modify its notification policy reflects a commitment to adaptability and responsiveness to customer needs. By aligning its notification practices with evolving transaction trends and customer preferences, the bank aims to enhance the overall banking experience for its clientele.
With email alerts remaining unaffected by these changes, customers can rest assured that they will stay informed about their transactions effectively and efficiently.