In an announcement recently, India’s largest lender, State Bank of India (SBI), announced that mobile fund transfers will no longer be charged SMS fees. SBI informed that users can now conveniently transact without any additional charges using USSD services.
SBI tweeted, “SMS charges now waived off on mobile fund transfers! Users can now conveniently transact without any additional charges.”
According to SBI, Users can now conveniently transact using Unstructured Supplementary Service Data (USSD) services without paying any extra fees.
By using mobile banking with the *99# code, users can access basic banking services like fund transfers and account statements without a smartphone or Internet connection.
Services that can be availed through the service include: sending money, requesting money, checking account balance, getting mini statement, and changing UPI PIN.
USSD is a service that can be used to transfer money, check account balance, generate bank statements, and many other things.