The Federal Trade Commission has designated March 5 through March 11 as National Consumer Protection week. One of the goals is to provide you with valuable tools and information to help protect your financial well-being.
Advances in digital banking have made staying on top of personal finances easier than ever. Are you taking advantage of an important feature within your mobile banking? Account alerts and controls can be managed and customized through online or mobile banking. You choose to get them by texts, email, or push notifications. These alerts help you keep your bank accounts in good standing, avoid unnecessary fees and protect against fraud. Here are some examples of alerts to help monitor finances.
Low Balance
Low balance alerts let you know when your checking or savings account balance drops below a predetermined amount—you decide the amount you are comfortable with. Being aware of when your account is at risk of an overdraft allows you to take action to prevent the overdraft and avoid fees.
Unusual Account Activity
This alert notifies you if there is an unusual change in account activity. Large stand-alone transactions are usually a red flag for fraud. Being aware of unusual account activity is important if there is an incident of fraud. The sooner you report fraudulent activity, the greater your chances of getting reimbursed.
Debit Card
Receive notifications and set controls on where, when, and how your card is used. This includes the location, merchant types, transaction types, and spending limits. Using this feature along with card locks allows you to quickly shut off access to your debit card if you suspect fraud.
Large ATM Withdrawal
This alert notifies you when there is a large cash withdrawal at an ATM. If you did not make the withdrawal, you’ll know instantly money was taken from your account by someone else. Some banking apps send alerts when an account has exceeded the daily withdrawal limit. This could be a sign that someone else has access to your account, or it could mean that you might be withdrawing too much cash at one time.
Profile Change
Data breaches and scams threaten our personal data, but you can stay on top of potential threats to your accounts, including password or username changes by opting for a profile change alert. You’ll be notified when personal details are changed, which can help you detect suspicious activity and lock accounts or cards before they are used illegally.
Baltimore County Employees Federal Credit Union offers a variety of account alerts and controls in the BCCU Mobile app. You choose to enable or disable your debit card use by location, merchant type, transaction type, or amount of purchase. Enable push notifications and stay up to date on hours and holiday closings. Live updates keep you informed of any changes to your mobile banking app, including functional updates and planned maintenance downtimes. Two-way text alerts let you fight fraud in real time. Watch a brief video to learn more about two-way text alerts.
We’re dedicated to protecting your personal data and accounts. If you have questions or need help setting up account alerts, contact Member Services at 410-828-4730, 800-234-4730 or [email protected].
