JPMorgan Chase & Co. has added two so-called Instant Action text-alert features to its mobile-banking service.
Chase now will send customers a text message as soon as their balances fall below a predetermined amount; the bank previously sent such notifications at the end of the business day. Customers also may transfer funds via text message to ensure they have sufficient funds to prevent overdrafts.
Chase already is sending out 725,000 low-balance alerts each week, the bank said in a statement. It has been promoting the new text services in national television advertising and in print, radio and online ads and through direct mail, a Chase spokesperson tells PaymentsSource. Chase did not disclose how many mobile-banking customers it services.