Fraud Protection - Email Alerts For Credit Card & Debit Card Use

If my online accounts such as Paypal or Google Wallet have activity, I am immediately notified when a transaction takes place. This allows me to verify my own purchases are being processed correctly, and also serves as an early warning system if someone has fraudulently used my account. I would like to see this same functionality built into the BECU credit cards and debit cards as an option that the user can turn on or off through user preferences in the BECU online banking portal.

 

As someone who has been the victim of identity theft on two occasions, I can confirm that this would have been the quickest way to have been alerted to the activity in order to call the bank and intervene. The model is already in place for companies like Paypal and Google, so there should not be any reinventing the wheel, just copy what they are doing and allow the user to choose which email address to send the alerts to.

24 Comments
Community Manager
Status changed to: Good news! We have this!

Good morning @DWhipple I'm doing a review of some of the older ideas in the community and I wanted to let you know that we do offer email and/or SMS alerts for debit and credit card activity. You can set your preference in Online Banking by selecting the "Alerts" tab from the account summary page. From here you're able to select the accounts and credit cards and the minimum dollar you'd like to be alerted at. We're also currently looking into self-managed preferences (turning cards on or off) in online banking but don't have a timeline ready to share yet. Let me know if you have any questions. Thanks! JohnS 

Adventurer

@JohnS You have alerts status of which I am subscribed to. However, it is not instantaneous. Purchases or deposits do not reflect immediately in my VISA account. It does occur somewhat if I use the debit card as a credit card. So what prevents an immediate reflection from occurring on the credit card? Many other credit card companies have this service.

Community Manager

You’re right, @alltojah notifications for Visa transactions can take up to 24 hours and this is because we’re dependent on a third party for those notifications. Right now we don’t have anything in the works to revamp this particular functionality. Also, debit transactions (anything posted to your checking account) will provide an alert within the hour of the transaction. I appreciate you keeping track of what’s happening in your accounts to make sure fraud isn’t occurring – that’s definitely important! The good news is along with notifications, and your vigilance, we do have 24 hour fraud monitoring. We’ll call if we see anything suspicious, so please be sure we have your current contact information updated in online banking. Thanks! JohnS

Trailblazer

"Status changed to: Good news! We have this!"

 

Hello JohnS,

 

I appreciate your reply, but "this" is not "it" Robot Happy

 

I used Paypal and Google Wallet as solutions to emulate because I knew many members are already using those services and know how convenient it is to have instantaneous alerts sent to them when transactions occur. While the alerting offered by BECU is better than no alerting at all, it is also not the idea I suggested. I'd apprecate it if the idea could remain open since there appears to be a decent amount of support for it by the online community. Thank you so much!

-Dan

Former Employee
Status changed to: Under BECU Review

You make a valid point @DWhipple.

I'm changing the status to Under BECU Review so that we can look into improving the timeliness of our alerts. #realtime

Stay tuned. Robot Happy

StaceyC.

BECU Employee

Hi all! I wanted to share with everyone who has commented on this idea that we're currently seeking your input on expanded alert offerings here. Check out the idea exchange, take the survey, and help us move forward with which alerts you'd like to see first. Thank you and cheers, KristinA 

Trailblazer

Hi KristinA,

 

I looked at the available list of options for expanding email alerts and don't see anything on that list that would encompass the request being made in this thread. Although admittedtly the backend solution may be complex, the user request itself is pretty straight forward - email alerts on every transaction made from a credit or debit card, and as close to real time as possible.

 

Thanks,

 

-Dan

 

 

BECU Employee

Thanks @DWhipple for taking a look! Fair call- the survey is around "types" as opposed to "timeliness", but I was anticipating (hoping?!) those engaged in this discussion may also be interested in expanded types as well. Thanks for checking back in Dan! Cheers, KristinA 

Sightseer

Yes, I agree.  I currently get too many calls from VISA security asking me to verify common everyday purchases.  Lately, it has been once a month and late in the evenings, which is very annoying.  If I don't immediately call them back, they put a freeze on my account.   They even want me to verify the PayPal purchases, which, as you mentioned, I have already verified through PayPal.   The way VISA security calls so often is a waste of BECU (our) money/resources.  We should be able to verify our purchases online when we are available.  Thank you. That is a very good suggestion. 

Sightseer

Hi,

I'm probably the only BECU customer who will ever request this, but would BECU ever consider implementing SMS banking (banking via text message)?

 

The reason I'm requesting this feature is because I'm tyring to cut down my dependence on using the Internet for everything in my life. While I've tried BECU's telephone banking feature, I've found it to be too difficult to use (navigation menus are overly complicated and my key presses aren't always recognized by the system).