Pakistani banks are facing strong criticism for charging customers Rs. 3.40 per SMS, a significant increase compared to just 42 paisa in 2021. This sharp rise has raised serious concerns among lawmakers and the public, especially as millions of customers rely on SMS alerts for daily banking activities. These messages are commonly used for transaction updates, security alerts, and account notifications, making them an essential service for account holders.
The issue was recently discussed in the Senate Finance Committee, where senators questioned why banks are charging such high rates for a service that costs very little to provide. According to estimates shared during the discussion, the actual cost of sending an SMS is only around 1 to 2 paisa, which means customers are being charged many times more than the real cost. This difference has led to concerns about overcharging and lack of transparency.
Banks have defended their position by stating that these charges are not just for sending messages but also cover security systems, transaction monitoring, and service maintenance. They argue that SMS alerts play a key role in protecting customers from fraud and keeping them informed in real time. On the other hand, telecom companies have said that SMS services are part of their core business and pricing depends on overall infrastructure and operational costs.
Despite these explanations, senators remain concerned about the large amount of money being collected from customers. They have demanded complete data for the past year to better understand how much is being charged and where the money is going. The goal is to ensure fairness and prevent unnecessary financial burden on consumers.
This situation highlights the need for better regulation and transparency in banking services. Many people believe that charges should be reduced to a reasonable level, so customers are not overburdened for essential services like SMS alerts.
