Banking SMS alerts can cost users up to 27,000 HUF annually

Banking SMS notifications, once a vital security feature, can result in significant annual costs for account holders. These expenses typically consist of a per-message fee and a fixed monthly service charge.

For an active user receiving approximately 20 SMS alerts per month for card purchases or account movements, annual costs can range between 6,000 and 18,480 HUF. When combined with additional annual package fees of 1,300 to 8,700 HUF charged by some banks, total yearly expenditures for SMS alerts can reach up to 27,000 HUF.

As a more cost-effective alternative, many banks now offer push notifications through their mobile banking applications. These notifications provide real-time updates on transactions and are often free of charge, though users should verify the specific coverage and any potential fixed fees associated with the service at their respective banks.