Expert calls for two-second check to protect against fraud | UK | News
Louise Minchin has shared ‘hugely reassuring’ tips to stop bank account being drained (Image: Getty)
A consumer expert on BBC Morning Live has highlighted some straightforward steps people can take to protect their bank accounts from unauthorised transactions. Drawing attention to a Nationwide survey revealing these checks take mere seconds, it is an essential precaution everyone should consider where possible.
During the BBC Morning Live programme, host Louise Minchin informed viewers that Nationwide research indicates people are targeted by an average of “two scam calls” weekly. Describing this as “a lot (of calls),” she detailed the protective measures banks are implementing to help customers stay safe and outsmart fraudsters.
Tackling the issue, she revealed that Nationwide has launched a new feature called Call Checker, which enables people to confirm if a call is legitimate. So how does it work?
“What it means is if you bank with Nationwide, somebody phones you up, and you’re not sure whether they are actually from the bank, you can open the app, you can click more and then click call checker and instantly you see you are on a call to Alex.
“And if you’re not on a call, it would say you are not on a call with us. So that’s hugely reassuring for people.” The name, for example, Alex, will change depending on who you are speaking to on the phone.
Nationwide isn’t alone in offering this protection. Louise added: “Barclays is another example. If you receive a call claiming that somebody from Barclays is calling you, you can request a notification on your Barclays app. Not on your phone, not a text.
“So you go into your app, and you can see whether it’s actually your bank calling you. Monzo and Starling do it, they call it ‘call status warning’. It will tell you whether or not you are actually talking to your bank. Revolut as well, theirs is called ‘We Are Not Talking To You’ feature. It says quite clearly at the top of the screen whether or not they’re talking to you or not.”
This notification should read: “Revolut is not calling you.” Louise finds these features handy, admitting: “You would immediately put down the phone, wouldn’t you?” if the bank’s app said they were not calling you.
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Paid the wrong person?
In another prevention solution that Louise calls “interesting”, she noted that Monzo has added an undo payment feature. “That means if you make a payment, you’ve got up to 60 seconds to stop that payment before it goes through.
“And 60 seconds doesn’t sound like a very long time, does it? But actually, it just gives you that moment to think ‘Did I send that to the right person?'”
According to research by Moneyhub, one in 10 people in the UK have accidentally sent money to the wrong person.
Undo a Monzo payment, step-by-step:
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You’ll see a timer at the top of the payment confirmation screen with the option to undo the payment.
You can tap the ‘Undo payment’ button from there, or you can undo the payment from the Home screen or payment detail screen (as long as the 15-second timer hasn’t run out).
As soon as you hit that button, Monzo stops the payment from being sent. The money never leaves your account.
Stop your bank from being drained
Urging people to do these quick checks to prevent their bank accounts from being drained, Louise said that other security options are multi-factor authentication and “facial recognition”, which are “really good”.
You could also get notifications sent to your phone whenever you spend, as well as a code. “I’ve talked about it before”, she warned, adding: “One-time passcodes – only give that to your bank. But if you’ve got that app, you’ll be able to check whether it’s actually from your bank.” Don’t forget to freeze your card if you lose it, she added.
Give me an okay
But the features do not end there. Louise said: “Monzo has a feature where you can nominate a friend or family member who must also give an ‘okay’ if you’re going to transfer a lot of money.
“So you might talk about somebody who perhaps is vulnerable, you obviously need to have their agreement, but that’s a really good check. And then finally, some of the banks, including Santander’s app, automatically blur sensitive information and block banking actions if it detects remote access software.”
This is particularly useful when scammers attempt to access banking details via remote access, taking virtual control of a victim’s device.
Louise’s key points
Louise concluded by emphasising three key safety measures:
Verify the source: Access your bank’s website by typing the address yourself – never follow links in emails or texts.
Seek direct support: If you encounter issues, visit a local branch or call your bank’s official help line.
For example: “Nationwide has partnered with Independent Age, they’ve got an expanded helpline giving support to scam victims.
“Barclays have a Digital Eagles program which offers virtual sessions designed to help people make sure their technology is up to date.
“Charities will help as well, Age UK offers free advice line and IT training for the elderly and finally, there is the Telephone Preference Service.
“That is a free opt-out service to prevent unsolicited calls on mobiles and landlines and it’s definitely worth considering. Because if you can stop those scam calls in the first place, then you don’t have to check it to your bank.”
