Fascinating report out from the Federal Reserve “Consumers and Mobile Financial Services” regarding the trends in mobile banking and mobile payments. Among the survey respondents, 52% indicated that they set up alerts on their accounts. Here are the details of the type of alerts they set up:

Follow Up Questions:

• Do any of the most popular alerts from these survey results surprise you? Why or why not?
• Are there any alerts that are NOT on this list that you would want consumers to use?
• Have you set up any of these alerts? Which ones?
• What are the pros of setting up these alerts? What are some of the cons?
• Why do you think only about half of consumers use alerts and the other half do not?

Want this resource and questions in slide format to use in class? Click here!

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.