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SBI waives off SMS Charges from Mobile Fund Transfers

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New Delhi: To encourage the transfer of funds and money via mobile banking for marginal and poor citizens, India’s top creditor State Bank of India (SBI) has announced it will cut of SMS charges for mobile transfer of funds.

This will ultimately ease the burden of customers and allow mobile fund transfers to be more affordable and easier to use.

SBI has informed its customers that they are now able to easily transact transactions without extra charges by with USSD services. You just need to dial *99# and access banking services for cost-free, according to the.

The company shared an informational graphic on its official twitter handle, and added “SMS charges are now eliminated for mobile funds transfer! Users are now able to transact without additional costs.”

What exactly is USSD service?

An acronym that stands for Unstructured Supplementary Service Data (USSD) is a method that is used to transfer funds as well as checking balances for checking accounts and generating bank statements and many other.

The service is available on smartphones with feature phones that allow customers access banking services without the need for a smartphone or Internet connection.

It lets users access basic banking services like transfer of funds or account statement , without having a phone or Internet connection, by making use of mobile banking using the *99 code.

SBI has stated in its graphic that its customers can avail these services for free of costs, such as sending money, request money account balance Mini Statement, as well as change UPI PIN.

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