Published: April 06 2023
Contents
- What are push notifications and SMS messages?
- How much do SMS messages cost from Hungarian banks?
- How can bank account holders save money by using push notifications?
- Are push notifications widely available at all Hungarian banks?
What are push notifications and SMS messages?
Push notifications are messages sent via a mobile application where a user is notified with financial information, without needing to be logged into the mobile banking application. SMS messages are sent as traditional text messages to a user's mobile phone.
How much do SMS messages cost from Hungarian banks?
According to a recent report from the National Bank of Hungary, the average bank account holder paid 6,390 HUF per year on SMS notifications in 2021.
Many banks charge a fee of 15-50 HUF for each message, which can add up over time and increase with inflation. These charges, which consumers often incur for useful and important notifications, are the fourth highest banking costs for account holders.
How can bank account holders save money by using push notifications?
Several Hungarian banks, such as OTP, Erste, and Gránit Bank, allow customers to receive push notifications through their mobile banking app. These notifications are free of charge and carry the same amount of information as SMS messages.
Customers who receive both SMS and push notifications may be able to unsubscribe from SMS messages to save money on unnecessary charges.
Are push notifications widely available at all Hungarian banks?
At present, push notifications are only available at a select number of banks, such as OTP, Erste, Gránit Bank, and MKB. Customers of Takarékbank, K&H, and Raiffeisen still have no access to the feature. It's important for bank account holders to explore different notification options and check if their bank offers push notifications to help reduce excessive costs.
