By Mike Timmerman, clarkhoward.com
If you don’t have mobile banking alerts set up on your smartphone, there are a few of them that can really help you manage your money.
Set up these mobile banking alerts
A recent Bank of America survey found that 87% of people use mobile banking alerts and notifications.
And as a result of those alerts, most consumers take some sort of action, such as contacting their bank, transferring money or adjusting their spending.
While not all alerts may be right for you, here are four of the most popular ones:
This alert sends you a text message or email when your balance falls below a certain amount, which you can usually customize with your bank.
This can prevent your account from going in the red, leading to steep fees.
Clarks recommends refusing your bank’s overdraft protection.
While a low deposit alert is one you never want to get, here’s one you’ll look forward to receiving! This is a great way to know when your direct deposit hits your account every two weeks!
You can also get similar alerts when other deposits are made and funds are available to use.
If you have a credit card with your bank, many providers will offer you email or text message reminders a few days before your payment is due.
With banks charging late fees of $25 or more, this can be a money-saving reminder.
Finally, the most important of these alerts to sign up for.
If there’s something going on with your account that’s out of the ordinary – like a very expensive charge – you might receive one of these alerts.
With ATM skimming on the rise, an instant notification can help you react quickly.
For more information follow this link, clarkhoward.com