CBB requires new banking safety standards to include text message alerts
The service stems from the idea of protecting bank clients from fraudulent activity.
Banks will provide notifications via SMS text messaging service free of charge to customers when a transaction is made to the client’s account, including withdraws or the use of a credit card or pre-paid card.
The newly added text messaging service is the most recent safety feature offered to banking clients who already have access to notifications in the event of financial withdraws through an ATM or credit card. Alerts also cover withdrawals through the compositor, withdrawals from a banking account or credit card that are made online or through the mobile app, automatic withdrawals, service charges and loan repayments, as well as any internal or external transfers from either the customer's account or credit card.
The new text messaging feature will be available to banking clients starting Sept. 1.