How to Enable SMS Notifications for Suspicious Transactions

Rho is committed to the security of your account and has recently introduced an optional fraud protection feature: SMS notifications for suspicious transactions. This service is designed to alert you immediately when a potentially fraudulent transaction is detected, allowing you to confirm or deny the transaction promptly. Below are the steps to enable this feature.

Step-by-Step Guide to Opt-In for SMS Fraud Alerts

1. Log in to your Rho account and navigate to the Settings menu.
2. Within Settings, locate and select the Notifications page.
3. Look for the option related to SMS notifications for suspicious transactions and choose to opt-in.
4. Ensure that the phone number on file is a cell phone number, as this service requires the ability to receive SMS messages.

What Happens When a Suspicious Transaction is Detected?

  • You will receive an automated SMS notification if a suspicious transaction is identified.
  • The transaction will be automatically declined, and the SMS will prompt you to confirm whether you recognize the transaction.
  • Reply YES if you recognize the transaction, and the block will be lifted, allowing you to re-attempt the purchase.
  • If you reply NO, indicating that you do not recognize the transaction, your card will be automatically canceled to prevent further fraudulent activity.

Tips and Warnings

  • Regularly update your cell phone number in your account settings to ensure you receive timely alerts.
  • Be aware that replying NO will result in the immediate cancellation of your card, so confirm the transaction carefully.
  • This feature is optional but highly recommended for enhanced security.

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Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank N.A., member FDIC. Savings account services provided by American Deposit Management Co. and its partner banks. International and foreign currency payments services are provided by Wise US Inc. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party.
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Investment management and advisory services provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser and subsidiary of Rho. RBB Treasury LLC facilitates investments in securities: investments are not deposits and are not FDIC-insured. Investments are not bank guaranteed, and may lose value. Investment products involve risk, including the possible loss of the principal invested, and past performance does not future results. Registration with the SEC does not imply a certain level of skill or training. Treasury and custodial services provided through Apex Clearing Corp. ("Apex") and Interactive Brokers LLC ("Interactive"), registered broker dealers and members FINRA/SIPC. Interactive rates may vary from Apex rate shown above. For additional information about investment management and advisory services provided by Rho Treasury, please refer to Rho Treasury’s ADV-2A Wrap Fee Brochure.
             
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Rho Treasury is not insured by the FDIC. Rho Treasury are not deposits or other obligations of Webster Bank N.A., or American Deposit Management Co.’s partner banks, and are not guaranteed by Webster Bank N.A., or American Deposit Management Co.’s partner banks. Rho Treasury products are subject to investment risks, including possible loss of the principal invested.
*This reflects the sought net yield based on 90-day Treasury Bill rates as of [DATE] and an annual fee which ranges from 0.15% for deposits of $20M or more to 0.6% (the maximum annual fee) for deposits under $2M. Individual results may vary depending on the actual investment date and investment products selected. Past performance is not a guarantee of future performance results. The yield is variable and fluctuates without prior notice. The rate shown is net of fees. The amount of Treasury Bills available at a particular yield will depend upon the sellers’ offer size; any remaining cash balance after the purchase may not earn the same yield.
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Rho is a fintech company, not a bank. Checking and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks.