It’s important that every financial institution that you do business with has your correct contact information.
This includes banks, investment companies, insurance companies, retailers where you have charge cards, former employers that you have retirement accounts with, and any other important organization.
By having your current physical address, email address and phone number, these organizations will let you know when a change to your account has been initiated.
Companies will send you an email or physical email stating that your email, physical address or phone number has been changed and let you know how to reply to them if this change was not authorized by you.
You need to make sure that you are in a position to receive any correspondence from these organizations regarding fundamental changes to your account.
If someone is trying to change the contact details of one of your accounts, you need to know about it and stop it.
Keeping your contact info up to date will make sure that you are notified.