SMS charges in banks refer to the fees that banks charge their customers for sending SMS notifications for transactions or events related to their savings account. These charges are levied on all customers on an actual usage basis for SMS alerts. The charges vary depending on the bank and the type of account you have. For example, Punjab & Sind Bank charges Rs. 5/- for up to 5 SMS alerts free, Rs. 10/- for above 5 and up to 20 SMS alerts, and Rs. 15/- for above 20 SMS alerts for saving accounts.

Most banks charge SMS alert fees to their customers, including large banks such as ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, and Canara Bank. The charges can vary from Rs. 5 per month to Rs. 15 per quarter. However, some banks offer fee-free savings accounts to their customers, such as IDFC FIRST Bank, which offers "Zero Fee Banking*" to its savings account holders on 28 commonly used services such as chequebook re-issuance, debit card issuance, duplicate passbook issuance, stop payment of cheque, SMS alert, etc. .

Customers may be able to opt-out of SMS alerts or choose to receive alerts only for specific types of transactions to avoid unnecessary charges. It is essential to manage bank charges as they can add up to significant amounts over time, which can negatively impact your finances.