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SMS alert for treasury transactions for Savings bank customers

Savings bank customers in State Treasuries will get SMS alerts on all transactions in the near future.

Published: 26th July 2021 06:00 AM  |   Last Updated: 26th July 2021 06:00 AM   |  A+A-

Smartphone

For representational purposes (File Photo | AFP)

By Express News Service

THIRUVANANTHAPURAM: Savings bank customers in State Treasuries will get SMS alerts on all transactions in the near future. The facility is expected to prevent fraudulent transactions without the knowledge of customers.

At present, SMS alerts are given to customers when they register for the online banking facility and for online fund transfers. But, unlike banks, treasuries do not send alerts for other transactions like RTGS. According to the department, the SMS alert facility for all transactions is getting delayed due to problems with the central server.

Online  facility in the treasuries department has not made much headway even after years. The online fund transfer  is still a one-way facility, i.e, customers can transfer money from their treasury savings bank account to their bank account but not vice-versa.

The system is prone to errors and malpractice. Sources said lack of coordinated efforts was hampering progress of online facilities. “Though the online fund transfer is still a one-way process, customers can transfer money through another method. Most customers are unaware that the money from their account can be transferred to their treasury SB account via e-treasury system,” said an officer.



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