Gone are the days of having to wait for a bank statement to know what’s going on inside your bank account. With bank alerts, you can get real-time updates about various types of account activity and use these alerts to better manage your finances.
While the types of alerts available vary from bank to bank, they’re usually free, and you can choose to receive them by email or text.
Learn about the different alerts that may be available through your bank. Then, use the list below to explore your bank’s alert options and match available alerts to your preferences.
What Are Bank Account Alerts?
Think of bank account alerts as a digital nudge to let you know that something is happening in your bank account—often your checking account. Even if you feel like you’re on top of your spending habits, bank alerts can keep you even more in the know about your account activity.
For example, alerts can let you know that it’s payday or that someone might be using your debit card without your permission. Alerts can even remind you that it’s time to move some money around to help you avoid fees or to meet your savings goals.
The best part about bank account alerts is that they’re customizable to your preferences, and you can turn them on or off at any time.
What Are the Different Types of Bank Account Alerts?
Ultimately, the alerts you choose to activate are entirely up to you. The list below can help you learn about some of the most common types of bank alerts. From there, you can consider which alerts you’ll find useful for your finances and lifestyle.
1. Low Balance Alert
To help you avoid potential overdraft fees, consider setting up a low balance alert. Many banks allow you to customize the dollar amount that triggers this alert.
One of the great things about a low balance alert is that you’ll know when to move money into your checking account from savings or even tighten spending until the next payday. If you have a joint account, a low balance alert can also help you discuss family finances and spending patterns.
2. High Balance Alert
You always want your money to be working for you as hard as it possibly can, and a high balance alert can help. A high balance alert can let you know when it’s time to move money from your checking account into a savings, retirement or another investment account.
This alert can also serve to remind you to put a little more money toward a credit card payment or car loan, accelerating your debt pay-down strategy.
3. Large Purchase Alert
It’s one thing to splurge on yourself every now and then. It’s another when someone else is doing the splurging for you—and possibly without your permission.
Large purchase alerts let you set a dollar amount that will trigger an alert. If you share a joint account with one of your kids or a partner, large purchase amounts can prompt a discussion about spending habits—or let you know a particularly nice birthday or anniversary gift is in your future.
4. Single Transaction Alert
Suppose you know your daily spending usually falls in a particular dollar range. For example, let’s say most of your transactions are $25 or less. In that case, you can set a single transaction alert to flag when transactions hit your account above the $25 limit you set.
While these alerts may often flag everyday purchases, fraudsters like to use multiple low-dollar transactions to siphon bank accounts. A single transaction alert could warn you of potential fraud.
5. Large ATM Withdrawal Alert
If you know that you only withdraw specific dollar amounts of cash from the ATM, you can set an alert that will flag larger-than-normal ATM withdrawals.
These alerts are especially helpful if you have a joint account holder. When you receive an alert, you can check to see if the other account holder made the withdrawal or if it’s a potentially fraudulent transaction.
6. Profile Change Alert
Your online banking username and password keep your bank account secure. Setting up a profile change alert can warn you when there’s been a change to your login information.
If fraudsters gain access to your account, it’s not uncommon for them to change information like your email address, username and password to lock you out of your account and give them free rein.
7. Unusual Activity Alert
An unusual activity alert may be an automatic feature with your bank account. If it’s not, you can set one up so your bank will alert you if they suspect a transaction is fraudulent.
You may trigger one of these alerts by using a card outside of your home city (especially when you travel) or from a transaction that’s grossly over your typical purchase. Your bank may text you and ask you to reply to confirm the transaction.
Make sure that any communication you receive about your account is coming directly from your bank. If there’s any doubt, contact your bank via an established channel—either online or through phone customer service—about the unusual activity.
8. Debit Card Use Alert
If you’re a stickler for detail and like to track all of your spending, a debit card use alert can help you keep an eagle eye on your account. When you enable this alert, you’ll generally receive a text or on-screen push notification for all debit card purchases, which often includes the merchant name and the transaction amount.
9. Direct Deposit Alert
Payday is always a good day. With a direct deposit alert, your bank notifies you when your paycheck arrives in your account. This alert can help you to schedule bill payments, large purchases and more.
How Do I Set Up Bank Alerts?
Setting up bank alerts can be done through your profile and account settings in your online banking platform. Log in to your account either through your mobile device or desktop and navigate to your account settings section. You may see “alerts” or “notifications.” If you have difficulty finding where to set up alerts, don’t hesitate to call the customer service number on the back of your debit card for assistance.
Once you locate the alerts or notifications screen, you can activate the alerts you want and set dollar amount limits for the alerts that require high and low limits.
Many banks offer you the choice of receiving an email notification, text message or both. Some banks also offer push alerts, which are on-screen banners on your phone.
Find The Best Online Banks Of 2024
Bottom Line
Bank account alerts can help you keep a better eye on your money, even with a hectic lifestyle. Not only can they alert you to potential fraud, but also bank alerts can serve as gentle yet powerful reminders to take action with your finances. They’re an important part of your overall efforts to secure your banking information online, which includes how you handle passwords, Wi-Fi and your bank’s website and mobile app.
