20 ways to keep your bank account safe

Being scammed can have a devastating impact on your finances, not to mention your confidence and mental health.   

In 2024, 40% of scam victims had to borrow money just to recover from a scam, according to Citizens Advice.  

Don’t let that be you. 

Here are 20 ways to help you stay one step ahead and keep your money where it belongs, with you.  

Watch out for ‘safe account’ scams 

A scammer might pretend to be your bank, the police or even a well-known retailer like Amazon.  

They'll say your money is at risk and that you need to move it to a ‘safe account’.  

But this should act as a red flag, as there’s no such thing and only a scammer will ever use that phrase. 

Never give remote access to a stranger 

If someone calls out of the blue asking to ‘fix’ your computer or account, hang up immediately. Giving remote access means giving up control of your device. Scammers can then access and drain your bank accounts. 

Don’t be convinced by caller ID  

With number-spoofing technology, fraudsters can fake phone numbers to make it look like your bank is calling. Always be wary of unexpected calls, even when they seem legitimate. 

Hang up and call back on a trusted number 

If your ‘bank’ calls and you’re unsure whether it’s genuine or not, hang up and call them back on their official number. Ask if and why someone from the bank has called you to determine whether it’s genuine or not.  

Never share security codes 

Your bank will never ask for your one-time codes, passwords or full card numbers. If someone does, it’s a scam.  

Use two-factor authentication  

Two-factor authentication (2FA) helps banks make sure it's really you using your online account. They’ll send you a code by text or by an automated call.  

2FA adds an extra layer of protection. Even if a scammer gets your password, they can’t get in without the code sent to your phone. 

Use strong, unique passwords 

No kids’ names, pets or birthdays. Use a mix of upper and lowercase letters, numbers and symbols to ensure the password is strong and unique. If you’re worried about remembering it, use a password manager like Dashlane.  

Update your password every three months  

‘Set it and forget it’ might be convenient but that’s exactly what hackers hope for.  

Cybersecurity experts recommend changing your password every three months. But always change it immediately if you suspect anything suspicious. 

Avoid using the same PIN for your phone and bank 

If someone sees you unlock your phone, they could try that same PIN (personal identification number) on your banking app. Always use a different code.   

Keep your antivirus updated  

Outdated antivirus software opens the door to scammers. Keep it active and up-to-date before doing anything online.  

Keep banking apps up-to-date 

Always keep your banking apps up-to-date with the latest software. Updates fix security gaps that hackers love to exploit. Most banks will not let you download their apps if you’re using very old operating systems.  

Only download apps from official stores 

Avoid unofficial download links. Use trusted sources like Google Play or the App Store. Fake apps can steal your data and help themselves to your money. 

Buy devices from trusted retailers 

Scammers can sell tampered devices on online marketplaces, or ones without adequate security features. Stick to the official brand websites or well-known retailers. 

Avoid online banking on shared computers  

If you’re using a shared device, like at a library or college, avoid logging onto your bank account.  If you have to use a shared device, always log out fully and never leave it unattended.  

Never share your PIN  

Never share your PIN with anyone, it’s for your use only.  

Be alert when using cash machines  

When using a cash machine, shield the keypad as you enter the PIN, as criminals may stand close behind you. It’s also safer to use a cash machine in a branch or shop than on the street.  

Report lost cards immediately  

The moment you think your card is missing, contact your bank to freeze it. Most banking apps allow you to freeze a card immediately and then unfreeze it if you find it.  

Be cautious with digital wallets 

If your phone is stolen, your digital wallet could be too. Use a strong passcode and set up fingerprint or facial ID to protect it. 

Never pay upfront for things you're unsure about 

Advance-fee scams trick you into paying for a fake loan, item or service. If someone wants money before providing anything, walk away. 

Double-check banking websites 

In 2023, Which? discovered over 2,000 websites were reported for imitating banks. These fake websites are used in impersonation scams. 

Use domain lookup tools like Who.is to check a site’s history. Genuine bank website won’t have been created last month.   

Always report a scam 

Report a scam to your bank or card provider straight away.  

You can also report the scam to Citizens Advice, as well as Action Fraud, the UK’s national reporting centre for fraud. 

If you receive a scam email, forward it to [email protected]. It will go to the National Cyber Security Centre and might stop other people being scammed. 

Get more tips on avoiding falling victim to scams in our guide on how to outsmart online scammers.