Text messaging services from banks can help inform customers about their accounts. Even though many larger corporations have mobile applications to perform these services, users can opt-in their SMS service as well.

M&T Bank, a branch based out of New York, has successfully sent over 10 million text alerts and push notifications using a program that has been in place for less than a year, according to a company press release.

"Our customers have embraced the new customizable account alerts to better manage their account information at their fingertips. Empowering customers to make more choices about how and when they want to receive account information has given them more control and convenience," Mike Shryne, senior vice president for Alternative Banking at M&T explained.

There is plenty of evidence supporting that people are consistently on their phones sending and receiving text messages. Unlike emails, text messages are read within the first four minutes a person receives it in their inbox. Instead of using this application for personal use, businesses can enhance a customer's experience with these services, according to Post-Gazette.

Companies that engage customers through their SMS subscription may learn more from their targeted audience than sending mass promotional emails. Banks are helping their users complete tasks straight from their phone, instead of visiting a teller or ATM. Since M&T Bank launched its mobile marketing campaign, these are the most common requests: low balance, large withdrawals and returned checks.

This way, individuals can optimize their mobile security if they receive the same information from two sources, combating previous text messaging scams. M&T allows customers receive notifications when their PIN has been changed or suspicious transactions occur.

In the past, imposters would notify phone subscribers that their account was compromised and tell them to provide account information on the "bank's" website.

Through the collaboration of the Federal Trade Commission, banks are constantly educating users to not respond to these messages if they think they are fake. If they have any questions, they can call their bank's customer service line for information on the message. In fact, banks do not ask their clients details on their account, instead they request for the primary user's personal information, according to the North County Gazette.

Consumer Reports predict that more financial institutions will create their own SMS marketing platform to help others simplify their next visit to the bank. Small to mid-sized banks that have not implemented a text alerts program like M&T can reach out to Swift SMS Gateway