The Central Bank
of Bahrain has directed conventional and Islamic retail banks to provide a text
messaging service to customers that alerts them to activity within their
accounts.
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.
