7 Bank Alerts That Save You Money (And You’re Probably Not Signed Up For)
We’re all inundated with seemingly endless notifications these days. The thought of adding more notifications by turning on bank alerts might seem overwhelming. However, these notifications can save you money while providing financial protection and peace of mind.
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First, you’ll need to follow the steps below to activate bank alerts on your account.
5 Easy Steps To Set Up Bank Alerts
Generally, these are the setup bank alerts:
Log in to your account.
Look for the alerts section.
Choose your alert.
Set up the alert.
Choose your alert method.
Once you’ve figured out how to set the alerts, there are a number of bank alerts to consider (that you may not be signed up for) which can save you money, prevent fraud, and help you keep a closer eye on your finances.
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7 Bank Alerts That You Should Sign Up For
Here are seven bank alerts that save you money that you may not already be signed up for, according to Yahoo! Finance:
Peer-to-peer transfer alerts: Activating alerts when you send or receive peer-to-peer payments from popular services like Venmo and Zelle can ensure you know exactly how much money is coming in and going out without having to manually review your account balance.
Balance alerts: You can always set alerts to inform you when your account balance falls below a certain level — whether it’s $600, $200, or another amount that makes sense for your cash flow. This way, you can avoid fees and penalties associated with overdrawing from your account and have time to transfer additional money into your account if needed.
Overdraft transfer alerts: If you have a checking and savings account at the same bank, it’s sometimes possible to set up overdraft protection. If your checking balance falls below a certain level, you can have money automatically transferred from your savings to your checking to avoid the fees and penalties associated with going into overdraft.
Large deposit alerts: You can set alerts to let you know when a large deposit of funds hits your bank account. These alerts are helpful for staying informed about when your paycheck gets deposited or when you receive a windfall of cash such as a tax refund or a bonus.
Unusual activity alerts: These alerts are extremely important. They can help you stay informed about any suspicious or fraudulent activity on your account. For example, if your credit card number is used to make a purchase on a website that you never shop on — or if your debit card is charged in a foreign country that you’ve never visited — you’ll find out right away. Being immediately informed about fraud can save you a huge financial headache.
Payment due date alerts: These alerts are useful to ensure that you never miss a payment, which can result in a lower credit score and interest accrued from credit card debt.
Statement available alerts: You’ll want to sign up for these alerts so you can keep track of and review your expenses each month. Reviewing your statements can also indicate any unknown charges or fraudulent activity.
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This article originally appeared on GOBankingRates.com: 7 Bank Alerts That Save You Money (And You’re Probably Not Signed Up For)