Bank of America claims customers can detect possible fraud and keep track of their money with new alerts that it is providing free to its online banking customers.
The bank has added 18 new alerts to eight that already existed while also allowing customers to receive the alerts in an e-mail or as a text message sent to cell phones or PDAs.
With the new alerts customers receive immediate notification of changes in sensitive information such as passwords and can set dollar limits to determine when they would be told about potentially suspicious activities on their debit or credit cards.
The bank’s e-Commerce executive, Sanjay Gupta, said, We’re giving customers more ways to detect fraud and keep an eye on their accounts. They can decide what they want to hear about and where they want to be told. This is another important step to help protect our customers online and give them greater peace of mind.
Bank of America has launched other free security initiatives in the past year including a two-way authentication service provide by SiteKey, and the Bank of America Toolbar which helps identify fraudulent web sites.