Alert To Be Added To Chase Savings Accounts 2/10/13

Many posters have complained because they have been charged fees forexceeding the regulated 6 withdrawals per month limit on their savings accounts. 

This is Chase's solution, communicated via Email this afternoon:

 

An email Savings Withdrawal Alert will be added to your Chase savings account(s) below on February 10, 2013, to give you more control and help you avoid fees.

Savings Account(s) Ending in: XXXX

Here's how it works:

We will notify you by email if your savings account is nearing or has exceeded your limit of six withdrawals or transfers out of your account in a monthly statement period. This Alert may help you avoid exceeding the limit and being charged a Savings Withdrawal Limit Fee.

No action is required if you wish to receive this Alert. To unsubscribe, click [button in Email] by February 6, 2013.

               After February 10, 2013, you can easily remove this Alert or change your delivery preference.

               For example, you can change your Alerts to include voice or text, by visiting chase.com.

Most institutions I am familiar with offer customers the ability to receive email alerts when their account balance is below a certain amount, when a Bill Payment is made, when an account is overdrawn, etc.

I have not seen alerts at other banks which alert customers that their savings account is near or over the regulated limit of six savings withdrawals so they can avoid excess withdrawal fees. 

So glad that your relative has already had this for the past two years.  Do you know which institution they use?