BAKU, Azerbaijan, November 13. A number of systemically important banks in Azerbaijan have decided to raise the tariff for SMS notifications 2.5 times starting next month, member of Azerbaijan's Parliament Committee on Economic Policy, Industry and Entrepreneurship Vugar Bayramov said, Trend reports.
"The service, which previously cost 40 qepik (24 cents), will now cost one manat (59 cents) beginning next month. In fact, such a rise implies an artificial increase in pricing or taking advantage of the sector's position. Because, recently, not only have there been no increases in communication tariffs, but technological developments have greatly lowered the cost of sending SMS," he noted.
Commenting on the issue, a source in the country's financial market said that some Azerbaijani banks will raise prices for bank SMS alerts starting in December 2023.
At the same time, Unibank said that its tariffs for SMS notifications have not changed, with no plans to increase them starting next month.
"In the Unibank (UBank) mobile application, the push notification service is usually free. In other words, if the client makes a transaction on his card, free notifications will be sent immediately through UBank, and thanks to this service, there is no need to notify card transactions via SMS," the bank added.
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