Typical push and pull services offered under SMS banking

[Reyed Mia (Apprentice, DIU)]

Typical push and pull services offered under SMS banking

Depending on the selected extent of SMS banking transactions offered by the bank, a customer can be authorized to carry out either non-financial transactions, or both and financial and non-financial transactions. SMS banking solutions offer customers a range of functionality, classified by push and pull services as outlined below.

Typical push services would include:

periodic account balance reporting (say at the end of month);
reporting of salary and other credits to the bank account;
successful or un-successful execution of a standing order;
successful payment of a cheque issued on the account;
insufficient funds;
large value withdrawals on an account;
large value withdrawals on the ATM or EFTPOS on a debit card;
large value payment on a credit card or out of country activity on a credit card.
one-time password and authentication
an alert that some payment is due
an alert that an e-statement is ready to be downloaded.

Typical pull services would include:

Account balance enquiry;
Mini statement request;
Electronic bill payment;
Transfers between customer's own accounts, like moving money from a savings account to a current account to fund a cheque;
Stop payment instruction on a cheque;
Requesting for an ATM card or credit card to be suspended;
De-activating a credit or debit card when it is lost or the PIN is known to be compromised;
Foreign currency exchange rates enquiry;
Fixed deposit interest rates enquiry.

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