Are Your Banking Alerts On? They Should Be!

Let’s start off by saying that if you’re a RepublicOnline user the answer to this question is likely to be yes, as your banking alerts would’ve been switched on automatically when the service was launched a short time ago. Of course, you do have the option to switch your banking alerts off, but here’s our case for why you shouldn’t.

Picture this: it’s another long day at work during the hectic Christmas season. You’re stressing out because you can’t spare a moment to run errands and your electricity bill is due! Suddenly, there’s a ping from your mobile. It’s an email alert telling you that the bill was paid using your credit card. Exhaling with relief, you remember that you wisely set up automatic recurring payments for your monthly bills. With one less thing off your list, you move ahead with your day confident your finances are in order.

Or how about this: you check the email alert and it’s not your electricity bill. Instead it’s a payment you didn’t expect or don’t recognise at all! What do you do? You call your bank of course, and we’re able to immediately address the suspicious activity on your account because you spotted it quickly thanks to your bank alerts.

We all know the saying, ‘knowledge is power’ but when it comes to banking alerts knowledge is comfort too. It’s the peace of mind that you’re on top of your account activity along with the power to stop fraud in its tracks. It’s a win-win! Plus in today’s tech-driven world where we are constantly in touch with everything from breaking news to messages from loved ones, it makes sense that we should be just as connected to our finances. That’s what makes banking alerts such a useful and valuable tool.

Ok, but how does it work?

A banking alert is a message notifying you about transactions concerning your account. These are some of the notifications you can expect to receive:

• ABM Withdrawal Alerts issued every time a withdrawal above a specified amount is made from an automated banking machine (ABM);
• Point of Sale Purchase Alerts sent when purchases above a specified amount are made at physical retail outlets; and
• Online Purchase Alerts provided when purchases above a specified amount are made shopping online

Nice, but what are the benefits?

In a nutshell, banking alerts are one of those features that are worth their weight in gold when it comes to taking charge of your financial wellbeing.

Keeping track of your purchases is one of those ‘must do’ habits that can help you manage your finances effectively. Banking alerts make it easy to document every bill paid, every ABM withdrawal and every purchase made, no matter how small.

They also make it easier to identify fraudulent activity because they equip you with real-time monitoring to better protect your finances.

The key takeaway is that banking alerts allow you stay in the know about when, where and how your money is used – anywhere and anytime.

So what are you waiting for? Are your banking alerts on? If not, they should be!

Or, take a look at these FAQs if you’d like to know more.