What is SMS Banking?
SMS Banking is a banking service performed via mobile phone text messages. When registering for the SMS Banking service, customers will receive information related to bank accounts as well as updated news such as balances, transactions, foreign exchange rates, etc. through text messages on their mobile phones.
Benefits of Using SMS Banking
SMS Banking service brings many benefits to customers such as:
– Fast account balance updates : When there are any changes in the bank account such as withdrawals, deposits or transfers, the phone will immediately receive a notification message.
– Enhanced security for cards and accounts: All transactions made on ATM cards and bank accounts are notified to the customer’s phone, some services also require an OTP code via SMS message. Thereby helping to reduce the risk of ATM cards or bank accounts being stolen by fraudsters and making unusual transactions.
– In some special cases, such as when the mobile phone network is faulty or the banking application does not respond, SMS notifications can still provide important information.
Some Limitations of SMS Banking
SMS Banking is convenient but costly. (Illustrative image)
In addition to the practical benefits, SMS notifications also have some disadvantages as follows:
– SMS Banking service requires users to pay a certain fee, although the monthly fee is not high, in the long run it is still a large expense.
– The timeliness of SMS notifications is not always reliable. Due to mobile phone settings, signal problems, and other reasons, users may sometimes not receive text messages in a timely manner.
– In addition, with the increasing prevalence of online scams, fake messages sent in the name of banks also occur occasionally, posing significant security risks to users.
Thus, from a practical and convenient perspective, SMS Banking is not an indispensable service. Customers can choose the appropriate query method according to their needs and habits.
For customers who do not use it regularly or find SMS notifications expensive, they may consider turning off the SMS notification feature. On the contrary, for the elderly or those who are not good at using smartphones, text message notifications are the main way to keep track of changes in bank cards.
Note that regardless of the method chosen to query bank card information, users should ensure the security of their accounts and handle personal information with caution.
