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More alerts than ever

Oct 31, 2007 | | Comments Comments Off

More alerts than ever


A little factoid I had to share: More than one third of us (37%) have received some kind of financial alert on our bank accounts this year, according to a report by Javelin Strategy & Research.

In 2004, about one out of five people (22%) reported receiving such an alert, such as a call or email from their bank or credit union about unusual activity in their accounts.

Banks are clearly stepping up their fraud alert activity, following the lead of credit card companies who’ve been doing this for years. People are also signing up for email or text alerts when their balances drop below a certain level, transactions worth more than $X hit their account, when deposits are made or any number of other financial events. If your bank or CU offers these voluntary alerts, take advantage–they can help you avoid bounced-transaction fees and alert you early to signs someone’s invaded your account.

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