Online banking alerts are messages sent via e-mail or text message that — as the name suggests — alert you of a pre-determined activity on your account. Most of the time, these alerts are in the form of reminders, but they can also be notifications after something has happened. There are many advantages of signing up for an alert notification service. The advantages include the possibility of saving money in the form of late and overdraft fees, and thus protecting your finances and credit score, the ability to take a stronghold on your financial life and the peace of mind regarding your banking. The best part is that these services are free at most institutions, but SMS fees from your cellular provider may apply.