HDFC Bank said that it will be stopping SMS alerts for UPI transactions below ₹100. This change will be effective from June 25, the bank said. Following this, HDFC customers will only receive text notifications for transactions above ₹100 or if they receive more than ₹500 via UPI, the bank said.
This comes as the average value of UPI transactions has been decreasing showing an increase in smaller and more frequent payments. In 2023, UPI transactions surpassed the 100 billion mark, reaching around 118 billion by year-end, as per the National Payments Corporation of India (NPCI).
Yes, Email alerts for all transactions will continue to be sent.
Why is HDFC Bank bringing this change?
The bank has brought the change after customer feedback indicated that low-value transaction alerts were unnecessary. Since UPI payment apps also send notifications, notifications from the bank result in clutter as per customer feedback.
What HDFC Bank advised its customers?
HDFC Bank advised customers to ensure their primary email addresses are up to date to receive all transaction notifications.
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