Saturday, August 21, 2010

Syndicate Bank – SMS Alerts - Charges



Syndicate Bank – SMS Alerts - Charges

Syndicate Bank has decided to charge its customers for SMS alerts, w.e.f 01/07/2010.
The charges are applicable both to the new customers as well as the existing customers.
Syndicate Bank via its web notice has requested the existing customers, to contact their Base Branch for full details.
Hence customers would not be able to know the details vide Phone Banking or Web or any other medium.
Of course, it would have been nice, if the charges were displayed on Syndicate Bank’s website.
This would have facilitated its customers to take a informed decision, and also reduced the TAT at the Branch level.
Snippets of Syndicate Bank:
The one major contributor of Syndicate Bank to Indian Banking is the launch of Pigmy Deposit Scheme in 1928. This scheme still continues, and Syndicate Bank collects on an average Rs2crs per day.
Of course, large strides in technology have enabled the Syndicate Bank, to minimize the frauds in the Pigmy Deposit Scheme.
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