Savings made by customers after banks started sending texts to warn them they were poised to move into the redHSBC and First Direct customers saved $135m (£85m) in overdraft charges after the bank started sending text messages to warn them they were about to move into the red.
Britain’s biggest bank,HSBC, started sending texts to its customers a year ago, or alerting them when they risked incurring charges for unauthorised overdrafts. In the first month,it sent 1.2m texts and by September this year the number had risen to 1.5m. Related: HSBC plans to introduce £5 a day overdraft charge Continue reading...
Source: theguardian.com