State Bank of India (SBI), country's largest lender, has decided to waive SMS charges on mobile fund transfers. With the waiving off of SMS charges, customers can now do transactions without paying any additional charges using the USSD services, the bank said in a Twitter post.

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SMS charges now waived off on mobile fund transfers! Users can now conveniently transact without any additional charges.#SBI #StateBankOfIndia #AmritMahotsav #FundTransfer pic.twitter.com/MRN1ysqjZU

— State Bank of India (@TheOfficialSBI) September 17, 2022Users can now conveniently transact using Unstructured Supplementary Service Data (USSD) services without paying any extra fees, according to SBI.

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.

This service works on feature phones, bank said.

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.

In other development, SBI has hiked benchmark prime lending rate by 70 basis points. With the increase, the revised rate is now 13.45 percent.

(Edited by : Anshul)

First Published:Sept 19, 2022 10:40 AM IST