I like this new idea from Bank One. You can set up email alerts relative to your account status.
Alerts on checking and savings accounts will arrive each morning, Tuesday through Saturday, updating you on the previous day's activity. You can receive alerts on any or all of the following nine events:
A daily update of all of your deposits, withdrawals and current balance
An ATM deposit has posted to your account
An overdraft protection advance is made on your account
A direct deposit greater than an amount you specify has posted to your account
A deposit greater than an amount you specify has posted to your account
Your account current balance rises above an amount you specify
Your account current balance drops below an amount you specify
THE ONE� Card or ATM card transaction occurs which is larger than the amount that you specify1 (for example, a transaction over $100)
Your account is overdrawn
Alerts on credit card accounts will arrive each afternoon, Monday through Friday. You can receive six alerts on any or all of the following six events:
The available credit on your credit card falls below an amount you specify
The available credit on your credit card falls below a percentage of your credit line that you specify
A transaction occurs on your credit card larger than a dollar amount you specify
A payment is due in 10 days for your credit card
A payment has posted to your credit card
A minimum payment has not been received for your credit card.
It's a simple idea, yet it is answers a need that some consumers do have, and it differentiates Bank One from its competitors. The question is this – is it a big enough difference to make people switch? If I didn't have an account, I would probably sign up with Bank One just for this, but switching is a pain, especially when you have been with a company for a while. Can the novelty overcome the inertia factor? We'll have to wait and see, but if it does, more banks will offer similar services.