Sampath Bank, one of Sri Lanka's largest commercial banks, has come under fire on social media platforms, for revising prices of its SMS alert service. 

According to the new price revision, only the first 10 SMSs were given free per month. The Bank announced it would charge Rs. 1 per additional SMS. The revised Annual Fee was Rs.350. 

As this was announced, many social media users criticised the bank for "fleecing" its customers. Many vowed to close their Sampath Bank accounts in protest of the price revision.

An online petition was even begun on Change.org urging the bank to reverse its decision to revise prices. 

"This is an opportunistic act of earning some quick revenue at the expense of customers who are already burdened with massive taxes. No other SriLankan bank has imposed such a fee on SMS alerts sent out by the bank.

Let us all join hands and sign this Petition to show the Sampath bank that its unfair tactics will not be tolerated. If they don't revoke this fee, lets move our accounts to other banks," the online petition said. 

Sampath Bank, however, defended the price revision, on Friday, by issuing a statement on its official Facebook page. 

"We have had to update our SMS Alertz pricing due to increases in Telecommunication Levies and standardisation of SMS fees by Mobile Network Operators. We are genuinely sorry that this affects you, but it's important to note the following:

• The first 10 SMS alerts per month are free of charge

• All account transactions will be charged at Rs. 1 per SMS alert

• You will NOT be charged for credit card transaction SMS alerts and card offer promotion SMS alerts

• You have not yet been charged for January 2017 SMS alerts - this will happen end of February 2017," the bank said. 

The statement has also came under severe criticism from over 200 Facebook users who said they did not want Sampath Bank's SMS alert service under revised prices.