Wednesday, October 13, 2010

Text Banking--Another Way to Access Your Accounts

Today we are launching Text Banking--yet another convenient way to access your UW Credit Union accounts. Text banking complements our existing mobile banking offering and allows you to perform common functions quickly by using simple text messages via your cell phone--without internet access or smart phone.

To get started, login to Web Branch and go to the Profile & Services tab. Look for the Text Banking Preferences section. To use Text Banking, you must validate your phone. Web Branch will walk you through the steps to do this and to create shorter nicknames for your accounts and Money Link recipients as well as set up your preferences for which accounts you want balances for and to use for "quick transfers." A complete list of commands is available on Web Branch, or by texting "help."

To make accessing Text Banking easier, add a new contact to your phone for UW Credit Union with the mobile number (608) 205-8910. That is the number all text messages will come from and all commands must be sent to.

Please keep in mind that if you were ever to lose or misplace your cell phone, you should disable Text Banking access in Web Branch so none of your account information could be accessed. You may also discontinue Text Banking at any time by texting "stop."

Text Banking is the fastest way to check balances and pay other members using Money Link (even on smart phones) while on the go.

15 comments:

  1. Pretty slick! Thanks for the modern edge.

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  2. Awesome step forward. What about doing something like an iPhone/iPod App? That would be very convenient as well.

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  3. Joel, I'm glad you like text banking!

    Creating applications for iPhone, Android and other smart phone platforms is an entirely new and different thing for us. We continue to monitor and evaluate the tools and resources available to us to provide apps in the future. We also have to weigh the effort of developing apps for many different platforms against what other features we can bring to Web Branch.

    We do hope to significantly update our mobile site (at m.uwcu.org) and mobile Web Branch to make it more "app-like" in the near future. We hope that will meet the needs of most smart phone users (at least in the near-term).

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  4. This is fantastic... thanks.

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  5. I would love to see an app for the Droid!

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  6. Regarding a Droid app, see above. It is unlikely in 2011.

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  7. This is great... I have an automatic text sent every day so I get a daily update on my balances--no surprises or overdrafts anymore.

    The mobile branch is fantastic too.

    Is UWCU looking into online check deposits, like in those Chase ads? Either online with a scanner or with a phone? That's the only feature that UWCU seems to be lacking. It would be great if that was in the works.

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  8. Nick, we are currently evaluating the technology to do deposits online or via a mobile phone. There's a lot happening in this area right now and we'd like the dust to settle before moving forward. While the technologies sound really cool, our experience in testing it has shown that it is not up to our standards.

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  9. This doesn't have to do with text banking, but it was an idea I've had as I try to get a better handle on my family's budget, and I wasn't sure where else to send it.
    We currently withdraw cash for day-to-day expenses so that we keep to a certain amount.
    There are other mid-range expenses (a few hundred dollars here or there) that come up throughout the year. It would be really cool (though I have no idea how you'd handle it from a UI perspective) if I could earmark money for a specific purpose within a single account. For example, if I've saved $50 toward a $200 expense, I don't want to spend that $50 on something else unless I really need to. However, I have a bad head for numbers and easily forget how much I've saved and for what. If I could tag amounts of money and see what they're supposed to be saved for, that would be really handy.

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  10. Maria, We have plans to add budgeting and goals to Money Management Tools later this year. That should help you reserve money for specific purposes.

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  11. Actually, Maria, you could open other accounts and name those accounts for each specific savings plan you want. You can then transfer money from your main account (or direct deposit) to those accounts and then transfer it back to your main account when needed.

    I currently do that with a UWCU loan. When it comes due it is automatically taken out of that second account. (I set it up to be taken out of that account automatically) That way I don't have to worry about accidently spending it.

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  12. If you are thinking about building a mobile/smart phone app, but are concerned about supporting multiple platforms, look at Rhomobile. I've been looking at it for a project I'm thinking about developing, and so far I Iike what I see. Not sure if it will fit your purposes.

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  13. Justin, the multiple platform support is our primary concern. We are aware of a number of different developer packages that will allow us to build our own apps and deploy across platforms. These are all still relatively new, however. Allowing for them to mature a bit will mean we don't waste valuable time going down the wrong path. Thanks for the info!

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  14. Please don't forget the BlackBerry G3

    Thanks very much,
    EGernon

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