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Doug Caldwell
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December 04, 2003
Wachovia Customers Utilize Balance Alerts for Account Updates
Wachovia is one of the first financial services companies to provide the service to its customers
CHARLOTTE, N.C. – With the holiday shopping season in full swing, Wachovia is making it even easier for customers to keep tabs on their accounts and receive electronic alerts about their balances. The alert service also allows consumers to monitor their account balances daily for suspicious activity.
All Wachovia customers enrolled in online banking can receive account balances and alerts on checking, savings and CAP accounts through email, pager, or any wireless device that can display email. Many customers already utilize features that notify them when their accounts dip below or exceed a predetermined balance. Each month, Wachovia delivers more than 850,000 alerts and account balances – including 46,000 daily. Wachovia is one of the largest financial services companies offering the alert service.
Daily account balance notifications allow customers to view balances without waiting for their account statement, logging into Online Banking, calling the bank, going into a financial center, or visiting an ATM.
“As people hurry around using debit cards, credit cards and checks to complete their holiday shopping, this service is an invaluable tool that will help customers keep up with what they are spending,” said Lawrence Baxter, head of Wachovia’s eCommerce Division. “No one wants to have a good shopping trip ruined by mistakenly overdrawing a bank account.”
Customers who utilize account threshold alerts avoid possible overdraft fees and can increase their returns by not keeping excessive balances in non-interest-bearing accounts.
“This service truly provides peace of mind for the client,” said Nicole Normand, a financial specialist at a Wachovia financial center who encourages her colleagues to enroll in the service. “We have seen customers who use the alerts, and they feel it is a great tool to help them manage their financial resources wisely.”
Wachovia Online Banking customers can sign up for Balance Alerts by visiting wachovia.com/alerts.
About Wachovia
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation, with assets of $389 billion and stockholders' equity of $33 billion at Sept. 30, 2003. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 9 million households, including 900,000 businesses, primarily in 11 East Coast states and Washington, D.C. Wachovia is also the nation's second-largest treasury management services provider for both domestic and international treasury management and consulting services. Cash flow solutions include, among other products, e-commerce, integrated payables and receivables, information reporting via Web or PC, and risk management. Its broker-dealer, Wachovia Securities, LLC, serves clients in 48 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services also are available through Wachovia.com.
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