Page 28 - Consumers and Mobile Financial Services 2014

20 Consumers and Mobile Financial Services 2014

potential effects of this technology for encouraging 38 percent receive “fraud alerts,” and 25 percent
consumers to engage in different financial behaviors receive “credit card balance alerts” (figure 8). Con-
that may prove to have beneficial outcomes. sumers who received a low-balance alert from their
bank nearly all report taking some action in
More than half (53 percent) of people who use response: transferring money into the account with
mobile banking receive e-mail alerts from their bank the low-balance (47 percent), reducing their spending
and 43 percent receive text message alerts. Among (37 percent), or depositing additional money into the
those receiving alerts, 52 percent receive “low-balance account (32 percent) (figure 9). Only 19 percent
alerts,” 49 percent receive “statement available notifi- report taking no action in response to receiving a
cations,” 42 percent receive “payment due alerts,” low-balance alert.
41 percent receive “deposit or withdrawal alerts,”