Banks charge for your sms updates

The Indian banking Juggernaut continues to higher and higher and higher profits.. creating processes and services which they can charge more and more to their customers.

Recently banks started charging around 25-50 rs per account for SMS updates on credit or debit.  This was in some cases for a month and for some in a quarter.

Now lets take some scenarios

Rs 25 per month per account
usually every person has three accounts..

So basically the cost of this service is Rs 75 per month ...or 900 Rs a year per person

Now if in a family you have two working people... multiply this by two ... so 1800 Rs.

Lets look at what all we can buy for this amount... a nice jacket ... a one night two day stay in a three star hotel,  a small phone! !!

With these calculations I was thinking of how to approach this ... so I cancelled the SMS updated and settled.for my email updates ( which were free ) and over the last few months I have seen that the email updates were good.enough.

So, always take a look at some of these creeping costs ...in your financial statements...

Its simplefinancialsense ..