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Tuesday , December 11 2018

‘Kuwait Banking Association’ instructs local banks to stop collecting SMS fees

KUWAIT CITY, Aug 29: According to verbal instructions from the Central Bank of Kuwait (CBK), Kuwait Banking Association has informed all local banks and branches of foreign banks to stop collecting fees for SMS service even before Sept 16, 2018 – the date specified for implementing the regulation that the SMS service provided by banks is free, reports Al-Qabas daily.

Some banks reportedly called their clients whose SMS service subscription is about to end, asking them to renew the subscription because the regulation is yet to take effect. Meanwhile, informed sources revealed the public has been advised to call the customer service centers in their respective banks to inform them that they will not renew their SMS service subscription since it has become free as per the directive of CBK.

Sources pointed out that it is not fair to collect fees for a service that will be free within a few days. Sources added the decision of CBK covers SMS and all other electronic services, unless the client requests for special service through e-mail or notifications through smart phone applications.

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