Key takeaways

A real bank will never ask you to move your money to a “safe account”. If a caller says it will, hang up and call the number on your card or in your app.

  • Caller ID can be faked, so a call that shows your bank’s name or number proves nothing.
  • If you already sent money, call your bank immediately. Minutes matter on fast payment systems.
  • Refund rights differ by country. Report to the police or a national reporting centre even if the bank says no.

Have an account name or number the scammer gave you? Search the scam directory.

What a bank transfer scam is

Banks and regulators call it authorised push payment (APP) fraud. “Push” means you send the payment, rather than a merchant pulling it from your card. “Authorised” means you approved it, though you were deceived about why. It covers many stories: a bank impersonation call, a fake invoice, a romance or investment lure that ends in a transfer, or a rental deposit for a flat that does not exist.

It is hard on victims for a practical reason. Bank-to-bank systems such as Faster Payments in the UK, UPI in India, and Zelle and wire transfers in the US are built to be fast and final. In the US, the FTC reported that people sent more money to scammers by bank payments than by any other method in 2025, with cryptocurrency second (FTC testimony, 2026).

The safe-account script

This is the best-known version. It usually runs in the same order.

  1. A call or text says there is suspicious activity on your account. The number may appear to be your bank’s.
  2. The caller is calm and professional. Sometimes there is a second person, “from the police” or “the fraud investigations unit”.
  3. You are told criminals, or even a bank insider, have access to your account. You are told not to trust branch staff.
  4. You are asked to move your money to a new “safe” or “holding” account, to buy cryptocurrency, or to withdraw cash for a courier.
  5. You are told to stay on the line and to give a false reason if the bank asks.

Nothing in that sequence is something a bank does. Fraud teams may ring you to confirm a transaction, but they do not need you to send money anywhere, ask for a full PIN or password, or ask you to deceive the branch.

Eight warning signs

  1. A caller says your account is under attack and you must move your money. This is the safe-account script. A person claiming to be from your bank, the fraud team, or the police says criminals have access to your account and the money must go to a “safe” account. Your real bank will never ask you to move money to protect it.
  2. The caller knows some of your details and the call looks genuine. Scammers can spoof a bank’s phone number so it appears on your screen, and they may quote your name or the last digits of a card. Neither proves who is calling. Hang up and call the number on your card or in your banking app.
  3. You are told to stay on the phone while you transfer. Keeping you on the line stops you from checking. If the caller says not to hang up, not to tell the branch, or to say the transfer is for something else, it is coaching, not security.
  4. A new payee, a new account number, or changed bank details. Invoice and payment redirection fraud swaps the account details on a bill from a builder, solicitor, landlord, or supplier. Confirm any change by phone using a number you already hold, not one on the new invoice.
  5. You are asked to “enter your PIN to receive money”. In UPI-style apps and similar systems, your PIN is only needed to send money, not to receive it. A “collect request” or a stranger asking you to approve something to get a refund or prize is a trap.
  6. A rush, a threat, or a secret. Deadlines, arrest threats, and instructions to tell nobody are how scammers stop you from asking a second person. Genuine banks and police are comfortable with you hanging up and checking.
  7. A transfer that makes no sense for the stated reason. You are asked to send money to an individual’s account to “protect” savings, to buy cryptocurrency, or to “test” the system. Payments to protect money do not exist.
  8. A bank warning on screen that you are told to ignore. Many banks show a fraud warning before a large or unusual transfer. If the caller tells you to click past it, that is the scam talking. Read it and stop.

How to verify before you send

  • Hang up and call your bank on the number on the back of your card, or open the app and use its support feature. If you can, use a different phone, or wait a few minutes first, because some scammers keep the line open.
  • For a changed invoice, call the supplier on a number you already had. Check name, sort code or account number, and any “confirmation of payee” match your bank shows.
  • Send a small test amount only if the other party is known to you, and still confirm by phone.
  • Read how to handle urgent payment requests and tell one person you trust before you pay.

If you already sent the money

  1. Call your bank now. Use the official number. Say clearly: “I have been the victim of a scam and I have sent a payment.” Give the amount, time, and receiving account details. Ask them to contact the receiving bank. In the UK you can dial 159 to be connected to your bank.
  2. Stop contact. Do not send more money, including “fees” to release the funds.
  3. Secure your accounts. If you gave out a PIN, password, card details, or let someone install remote-access software, change credentials and ask the bank to review the account.
  4. Collect evidence. Save the phone number, account details, messages, and screenshots of your transfer.
  5. Ask about reimbursement in writing. In the UK, mandatory reimbursement for Faster Payments and CHAPS APP fraud has applied since 7 October 2024, up to £85,000 per claim, and claims are normally due within 13 months of the final payment, per the Payment Systems Regulator. Elsewhere, ask what dispute or recall process the bank offers, and escalate to the financial ombudsman or regulator if refused.
  6. Beware of recovery offers. Anyone who says they can get the money back for an upfront fee is probably running another scam. See recovery scams.

Where to report

More help from official sources

Scambaba is an independent educational project. Reporting and recovery options depend on where you live. How these guides are researched is on the editorial policy.

Frequently asked questions

What is authorised push payment (APP) fraud?

It is fraud where the victim makes the payment themselves after being tricked, for example by sending money to a “safe account”. Because you authorised it, it is treated differently from an unauthorised transaction, and whether you get money back depends on your country and your bank.

Will my bank refund me if I sent money to a scammer?

It depends on where you live. In the UK, Faster Payments and CHAPS scams are covered by a mandatory reimbursement requirement in place since 7 October 2024, with a maximum of £85,000 per claim, according to the Payment Systems Regulator. In the US, rules protect against unauthorised transfers more clearly than payments you were tricked into making, so outcomes vary. Report immediately either way.

How fast do I need to act after sending money?

Within minutes if you can. Call your bank using the number on your card or in its app and say you have been scammed and sent a payment. Fast transfers can be forwarded on quickly, and banks are more able to freeze funds before they leave the receiving account.

Can scammers really make a call appear to come from my bank?

Yes. Caller ID can be spoofed, so a familiar number or a bank’s name on screen is not proof. Hang up and call back on a number you find yourself. If the call came from a number that looks like your bank, wait a few minutes or use a different phone.

What is a safe account?

It is an account the scammer controls. There is no such thing as a safe account created by a bank for your protection. No bank will ask you to move money to another account to keep it safe.