Notifications have been pinging from banking institutions recently after a new federal rule came into play.
These notifications are part of new federal rules to alert customers when bank balances are under a certain default thresholds (typically $100). You’ll also see notifications from your credit card about being too close to your limit as well (also usually within $100 of the max).
The rule went into effect on June 30th, and is automatic from banks, credit cards and lines of credits and are meant to help customers with their daily banking and to avoid fees.
Customers can opt out of these notifications at any time, but must contact the institution in writing.
The alerts are only in effect for personal banking, and are not applicable to accounts that were opened for business purposes.
More details on the new alerts can be found here.
