Chase has announced rolling out two new free mobile banking features: "customers now can receive a text message the moment their checking account balance falls below a pre-selected amount – and then instantly transfer funds by sending a text-message reply as short as four keystrokes." Chase says it is currently sending out 725,000 low-balance alerts each week.
“The new features make it easier for customers to manage their accounts, and avoid making purchases that could overdraw their accounts,” said Charles Scharf, head of Retail Financial Services at Chase. “Customers who liked our balance-alert emails are going to love these.”
The Instant Action Alerts are free and can be used by any Chase checking customer who has a mobile phone with an SMS – or text messaging – service and has signed up for the Chase MobileSM offerings. Customers can sign up for Instant Action Alerts and even set their own delivery time preferences and black-out times at www.chase.com, or by visiting a Chase branch.