Xin Lang Cai Jing·2026-02-06 01:04Core Viewpoint - China Merchants Bank has announced an adjustment to its SMS notification service for account transactions, which will no longer send notifications for transactions below 5,000 yuan starting March 16, 2026, reflecting a broader trend in the banking industry to reduce costs and improve efficiency amid narrowing net interest margins [1][3][12]. Summary by Relevant Sections Service Adjustment - Starting March 16, 2026, China Merchants Bank will stop sending SMS notifications for transactions of 5,000 yuan or less for customers who have not activated the service [1][3]. - The bank aims to enhance customer service experience by reducing unnecessary SMS notifications, encouraging customers to use its app or online services for transaction updates [3][10]. Industry Trends - Since 2025, over ten banks, including Bank of China and Gansu Bank, have raised the threshold for free SMS notifications, with some banks setting the minimum amount to 1,000 yuan [1][7]. - The trend indicates a shift in the banking sector towards higher thresholds for free SMS notifications, with many banks now charging between 1 to 4 yuan per month for this service [6][8]. Customer Base and Growth - As of the end of Q3 2025, China Merchants Bank reported 220 million retail customers, a 4.76% increase from the previous year, with 5.78 million high-tier customers, marking a 10.42% growth [3][12]. Historical Context - The bank has progressively tightened its SMS notification policies since 2024, gradually reducing the number of free notifications for smaller transactions [4][5]. - Previous adjustments included stopping notifications for transactions below 1,000 yuan and cumulative daily amounts below 3,000 yuan [4][5]. Financial Context - The banking industry is facing pressure from narrowing net interest margins, with the average net interest margin reported at 1.42% as of Q3 2025 [12]. - Banks are increasingly looking to enhance revenue through service fees and adjustments to existing services as a response to these financial pressures [12][14].