You know when deposits are posted You go to the bank and pay in some money into your account, you expect that when such money is eventually paid into your account, it is expected that your bank sends you the alert. It may be delayed. But if it doesn't arrive, you should probably contact your bank to find out why. Prevents fraud and theft If there is fraud or any irregular activities/changes in your bank account, you will get an alert especially when money is deducted from your account without your authorization. You can immediately take action before your account is emptied. You are up-to-date on your account activities With a bank alert, you can keep track of all you account activities. The deposits and withdrawals as well as other deductions your bank make. Also, it can also serve as proof that you actually sent or received a certain amount. Get reminders Another benefit of an SMS bank alert is that you will get reminders and other relevant information. For example, you get reminders about when your ATM card will expire. You will also get birthday wishes from your bank. Keeps you sane Alert keeps you sane particularly when you are expecting some emergency cash. This is because if you don't get the alert you may become very worried and end up getting yourself unnecessarily worked up. The money may have hit your account but the alert is just been delayed by network issues. Just avoid checking your phone every second.
Source: https://www.vanguardngr.com/2017/02/5-interesting-benefits-bank-sms-alert/