How Account Alerts Help You Bank Better
If you haven’t yet set up alerts through your bank’s online or mobile banking, you are missing out on valuable information on spending habits, potential fraud and more.
What are account alerts?How would receiving a text about low balance or a transaction alert showing you a store charged your card twice help you better manage your finances? These are just two examples of alerts offered by most banking institutions.
Options may include notifications about spending thresholds, when a direct deposit is made, or if an account reached a set balance amount.
You can customize the frequency and method of notifications. Some people prefer text messages, while others rely more on email communication from their bank. They’re easy to update and modify as your needs change.
How can alerts give more security?We all want to keep a close eye on our bank account, but it’s not always easy to do with life’s other responsibilities. If you’re only logging into online banking once a month when you pay bills, what if a fraudulent or errant transaction was made on your account earlier in the month?
By setting up transaction or purchase alerts, you have the opportunity to know if a purchase you didn’t make is being deducted from your account. Then, you can contact your bank or credit card company to dispute the purchase and cancel your card if necessary.
You may not want an alert for every latte, “forgot the milk” store run or other minor purchase. If applicable, set the transaction alert to the preferred threshold, say purchases more than $100.
It’s important to remember that alerts should not take the place of regular account monitoring or balancing your checkbook.
How can alerts help me stick to a budget?Budgeting comes easy for some people, but others may find it difficult to stick to a monthly plan.
If you set up account alerts for purchases made with your debit or credit card, would these reminders clue you in to how much you’re spending on certain items?
You can take budgeting a step further by logging into online banking and entering your daily total into a spreadsheet or planner of your choice. You can see which days or times of the year you spend more than you want to, and make a plan to cut back, shop for deals on seasonal items or purchase secondhand when applicable.
How can alerts help me avoid fees?Whether or not your bank charges fees for overdraft or insufficient funds, not being able to cover a purchase makes for a stressful day.
Setting up a low balance alert will warn you when your account balance has fallen below the threshold amount. An unexpected low balance could signal fraud, a missed transfer, a late direct deposit or another scenario to investigate.
5 Easy Ways to Check Your Balance
SouthState offers a variety of online and mobile banking alerts2, many of them sent real time.
What types of alerts are available from SouthState?
You can sign up for a variety of alerts relating to checks, debit transactions, direct deposit and more.
Alerts are delivered via email or text message, with the exception of security alerts. These are delivered via phone, email, text message or push notification depending on the option you’ve selected.
About the Author:
Consumer Digital Product Manager Jessica Jeffords has worked for SouthState since 2010, working in various departments including deposit processing, digital support, project management and consumer digital. She resides in Columbia, S.C.