One of the best new tools to fight fraud is mobile banking alerts. These alerts are set up by users so that they can receive notifications about suspicious transactions on their accounts and help prevent fraudulent activity.

Users can choose from a variety of alerts to set up, but there are a few that are crucial in identifying fraudulent activity. Log in to Parsons FCU’s app and set up alerts to go off in these five situations:

1. Large purchases

Set an alert whenever a single purchase is made that exceeds an amount you decide. If a fraudster tries to make a purchase over that amount, you will be notified, and you can cancel the card ASAP if you do not recognize the transaction.

2. When your profile or password changes

When your personal information on the website or app changes, you will receive a notification. If this change does not correspond with your activity on the app, call our Member Service [ZS1]   [KC2]   Representatives to let them know , and they can help you reset the information.

3. When an ATM withdrawal exceeds a certain amount

If you only use ATMs to get a few twenties at a time, set up this alert , so you’ll know of any big withdrawals you didn’t authorize.

4. When your account drops below a specific amount

While this alert is standard to keep accounts healthy and avoid fees, it is also helpful in preventing fraud. If a fraudulent purchase causes the account to drop below the amount you set, you will be notified and you can check on your transactions to see if any of them were fraudulent.

5. When any debit or credit card purchase occurs

While frequent shoppers may be annoyed at first by this notification, this will let users know whenever a purchase happens, so members can identify fraudulent activity as quickly as possible.

These notifications will help users track fraudulent activity for many types of transactions. While it is important to check your online banking as much as possible, these alerts can help you identify fraud as it happens. If any alerts lead you to believe that you are a victim of identity theft, please contact Member Services immediately. The sooner you report fraud, the faster Parsons FCU can help resolve these unauthorized transactions.

The article 5 Simple Alerts That Will Help You Bank Smarter and Safer originally appeared in our Quarterly Newsletter published in January 2019.