While banks and development finance institutions can utilise the facility to save paper and costs, they have been mandated to get each customer’s approval before switching them to virtual statements. Customers can always revert to the hard copy statements if they desire.
Friday, March 25, 2011
Cutting costs: SBP allows banks to send e-statements
In a notification issued on Thursday, SBP also asked banks to send SMS alerts to credit card holders’ mobile numbers, informing them that e-statements have been emailed. SMS alerts must also include vital billing information, including outstanding amount and due date.
While banks and development finance institutions can utilise the facility to save paper and costs, they have been mandated to get each customer’s approval before switching them to virtual statements. Customers can always revert to the hard copy statements if they desire.
While banks and development finance institutions can utilise the facility to save paper and costs, they have been mandated to get each customer’s approval before switching them to virtual statements. Customers can always revert to the hard copy statements if they desire.
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