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After all, your bank account will handle most of your cash inflow and outflow.
These include many security features, such as account alerts.
Here are five ways I recommend using bank account alerts tostay on top of your finances.
Automated fraud alerts will send you a text message to confirm the legitimacy of the transaction.
Answering no stops the charge from going through and locks down your compromised card and account.
Balance Limit Notifications
Part of financial management is monitoring your spending.
Setting up balance alerts gives you a quick reminder that you are nearing your spending limits.
Most financial institutions track your spending habits in the background, similar to budget apps.
As you approach your budget category limits, you will receive a notification.
Most importantly, balance alerts reduce your risk of an overdraft, Nicole added.
But thats not all they can help you with.
you could set up your balance limit notifications according to your financial goals.
Understanding the transactions in your account gives you more control over your spending, saving and planning.
Lets say you wrote a check or initiated a transaction through a third-party payment app, Nicole said.
If the funds werent immediately withdrawn from your account, you might forget about the transaction.
Real-time transaction monitoring notifies you when the funds leave your account, giving you a reminder.
Nicole continued, Real-time monitoring is also beneficial for detecting fraudulent transactions as they occur.
This could be $1 or $100.
Account Changes
Protecting your personal information from cyber threats is essential.
Additionally, account change alerts notify you when there is a login from a new location.
Understanding when unauthorized changes were made is important to prevent a total lockout, Nicole said.
Enrolling in these programs helps you monitor and improve your credit.
Maybe you notice your revolving utilization is too high or theres an error.
Which of these bank alerts can you take advantage of?
Remember, every financial institution will offer different types of alerts and programs.
Take a few minutes to view your offerings in your notification parameters.
Customizing this information helps you take control of your banking and effectively manage your finances.
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