Chase Customers Can Text Funds as Soon as They
Get Alert that Their Checking Account Is Low
Bank rolls out real-time alerts – and an easy way to act on them and avoid fees
Sends 725,000 low balance alerts each week
May 19, 2010 09:03 AM Eastern Daylight Time
NEW YORK--(EON: Enhanced Online News)--Chase announced it has rolled out two new free mobile banking
features to help customers manage their accounts more effectively.
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.
Already, Chase is sending out 725,000 low-balance alerts each week, helping customers keep track of their bank
balances and avoid fees.
The new Instant Action Text Alerts improve upon Chase’s very popular low balance account alerts, which were sent
to customers after the close of the business day.
“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.”
Customers can immediately – and simply – transfer funds from an eligible checking, savings or money market
account by replying to text message alert as soon as it is received.
For example, to transfer funds, customers should reply by typing the letter “T” – which stands for Transfer –
followed by a space and then the dollar amount.
l Sample: To transfer $250 = T 250.
If there is more than one eligible account to transfer from, the Chase text alert will show the customer the balance for
two of those accounts and provide the option to choose either “A” or “B” as the “Transfer from” account.
l Sample: To transfer $250 from one of those accounts = A 250 or B 250.
Fund transfers via text message can only be made in response to a low-balance text alert.
The Instant Action Alerts are free