Webster Bank's New Balance Alert Service Puts Overdraft Control at Customers' Fingertips

WATERBURY, Conn., Oct. 25, 2011 /PRNewswire/ -- For Webster Bank customers, overdraft control is now at their fingertips. Customers enrolled in online banking can now opt to receive real-time "low balance" and "high balance" alerts on their mobile devices or through email. This enhancement to the bank's online banking product is designed to help customers know when they are at risk of overdraft or have reached a savings goal.

The alerts service is voluntary for Webster customers, who may sign up for it online at www.websteronline.com/alerts. Customers simply follow the prompts for high or low balance alerts, selecting a dollar figure for each and choosing a preferred delivery method. When a high or low balance threshold is reached between the hours of 6:00 a.m. – 11:00 p.m., Monday – Sunday, a real-time text message or email will be sent to the customer. Upon receiving it, the customer can use online banking or their mobile device to access accounts and make appropriate money management decisions, such as transferring funds or rescheduling an online bill payment.

Michelle Crecca, executive vice president and chief marketing officer at Webster, said, "While we have been providing our customers with account alerts via email for some time, we knew adding balance alerts would be beneficial in further assisting with managing their accounts.  A growing number of customers prefer the immediacy and portability of text messaging. This new tool can help them avoid overdrafts as well as find out when a savings goal has been met."

Webster mobile web banking, introduced last year, offers customers the same safety and security as regular online banking from a personal laptop or desktop computer. Webster mobile web banking has been optimized to accommodate the screen-size on mobile phones, including iPhone, Android, BlackBerry, and other web-enabled handheld devices.

Webster online customers who are not yet using mobile banking may do so by simply accessing the Webster website (http://www.websterbank.com/ or www.websteronline.mobi) through the web browser on their phone, type in their user name, answer the challenge question, and enter their password. For added security, they can register their handheld device just as they would their computer. Once signed in, all accounts in the customer's online profile, including deposit, loan, and credit card account balances, are accessible. Customers can also view their account history, transfer money and pay bills to any payee already established in their online profile.

Webster Financial Corporation is the holding company for Webster Bank, National Association. With $18 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 171 banking offices, 485 ATMs, telephone and mobile banking, and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; Webster Capital Finance Corporation, an equipment finance company headquartered in Farmington, Conn.; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

SOURCE Webster Financial Corporation