May 26, 2010

Chase rolled out new mobile banking features leveraging SMS technology to alert customers about low account balances and transfer emergency funds from qualifying accounts.

Through Chase's new Instant Action Text Alerts, customers can choose to receive SMS alerts when an account's funds fall below a pre-selected amount, and reply directly to the message to instantly transfer funds. Customers simply need to enter a letter "T" followed by the amount they wish to transfer. If a customer has more than one eligible account from which to transfer money, the alert will give them an option to choose which one.

"The new features make it easier for customers to manage their accounts, and avoid making purchases that could overdraw their accounts," Charles Scharf, head of Retail Financial Services at Chase said in a release. "Customers who liked our balance-alert emails are going to love these."

Customers can set up Instant Action Text Alerts and customize settings through the bank's website, or by going to a Chase branch.