The bank has announced that henceforth less burden will be imposed on users and mobile fund transfers will become more affordable. We have waived SMS charges on mobile fund transfers. Henceforth users can do these transactions without incurring any additional charges,” SBI tweeted on its official Twitter account. SBI has also shared an infographic related to this.
Currently, SBI is taking steps to enable poor and middle class people to transfer money through mobile banking. By removing these charges, they are encouraged to use mobile banking more.
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What is USSD?
Unstructured Supplementary Service Data is called USSD. This service is used to transfer money, check account balance and generate bank statements. Through this service people can access banking services without smartphone or internet connection. It works on feature phones. People can get basic banking services by using mobile banking with *99# code. This means making fund transfers and getting account statements. In its infographic, SBI has stated that from now on, users can avail services like send money, request money, account balance, mini statement, UPI PIN change without any additional costs.
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