Money Minutes | General Electric Credit Union Blog | Financial Resources

10 Must-Have Account Alerts for Better Money Management

Feb 13, 2020 | 5 minute read

AccountAlerts

If you’re an online banking or mobile app user, you probably feel pretty comfortable when it comes to: checking your balances, transferring money, making payments, and monitoring everyday spending. But, are you using account alerts? Alerts are a great way to control and manage your money and if you’re not already using them, you could be missing out on an opportunity to better understand your banking activities and act quickly in the event of fraudulent activity.

How Would You Like to Receive Your Alerts?

Before you can set up alerts, you need to decide how you want to receive them. Thinking about the level of urgency is a great place to start! For example, you could set a regular email notification for weekly balance updates and a text alert or push notification for an overdue payment.

  • Text alerts appear just like a standard text message. For these alerts, check your data and messaging plan to see if any fees could apply from your carrier.
  • Push notifications will pop up as an alert on your smartphone, and when you tap the message the mobile app will launch. Push notifications are typically set up within your banking app (not in online banking) and are free for users to receive – you can use this option if you’re worried about data charges.
  • Email reminders are a smart option if you check your email frequently and prefer getting updates in your inbox. This way, you avoid getting messages and alerts on your phone and you can archive email messages for easy access later.

Top 10 Account Alert Types

Alert options vary but you’ll likely find some of these basic alerts and notifications to keep your accounts in good shape.

  1. Low balance alert: A popular alert type, be notified when the balance in your account(s) goes below a certain amount. Most services allow you to set this up based on any threshold you’d like (e.g. below $20 or $792; whatever you choose). This alert can help you avoid overdraft fees and overspending.
  2. Large purchase alert: Receive an alert when a large amount, defined by you, is withdrawn from your account. If you don’t recognize the transaction, you can act quickly to avoid an overdraft or potential fraud.
  3. Large deposit alert: Want to know when your direct deposit hits your account? Set up this type of alert to be notified any time a deposit at your predetermined amount (e.g. above $514 or $1,000) is received.
  4. Mobile deposit alert: If you use your mobile app to deposit checks, you can receive an alert about the status of your deposit. In some cases, the alert acts more like a receipt and can be helpful for record keeping. Note: We offer Mobile Deposit notifications via email.
  5. Upcoming payment alert: Get reminded of upcoming payments by setting up loan and bill payment reminders.
  6. Missed payment alert: If you do happen to miss a payment, get an alert that your payment is overdue and then log in and make your payment.
  7. Debit and credit card alerts: Set up and customize alerts for your debit or credit card, and be notified of: international transactions, declined transactions, online or by phone purchases, or a purchase made over a certain amount of your choosing. Note: We offer debit card alerts through Debit Card Controls.
  8. Budgeting alerts: If you need help getting your finances in control, a budgeting tool may be the right solution. You can set up and receive alerts when you go over budget, track spending by category, and look at your overall cash flow to get a better picture of your finances. Note: Use the Money Management feature found within Online Banking or our mobile app to do all of this, and more!
    • Projected to be over budget alert: Once you’ve customized your budgets, you can be notified if you’re in danger of exceeding a budget to help avoid overspending in a category.
    • Over budget alerts: Use an over budget alert and you’ll know the moment a purchase sends you over your budget each month. Then, you can make a budget adjustment for next month if needed.
  9. Fee charged alert: Many budgeting tools can also alert you when a fee is charged to your account(s), including: overdraft charges, ATM fees, or foreign transaction charges. This way you’ll know what to look for and avoid in the future.
  10. Cleared check alert: Set up this alert and get a notification when a check clears your account to know it’s been deposited safely.

The more you know, the more control you have. If you haven’t done so already, take some time to review the alert options available to you, so you’ll be able to closely watch your accounts, fend off fraud, and stay informed on transactions and activities.

Ready to get started?

If you’re a GECU member, log in to Online Banking or our mobile app to choose and set up the alerts that matter to you most. If you’re not yet enrolled, sign up online or download our mobile app from the Apple Store or Google Play Store today!*

 

 

 

 

 

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*We provide Online Banking and our mobile app to you for free; however, Mobile/Internet data charges may apply for text messages and alerts. Please contact your service provider for details.