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Protection against fraud

Credit and debit cards are an extremely safe way to pay. However, if you are unfortunate enough to be a victim of fraud, you are protected.

Legal protection

Victims of card fraud are legally protected to ensure they do not lose out financially. If you suspect you are a victim of fraud, it is important you contact your card issuer immediately so they can prevent further fraud.

Your card issuer may also contact you if they notice unusual spending patterns on your account.

Regulation and legal protections entitle card fraud victims to a refund, including any interest or charges on their account as a result of the fraud.

If your credit or debit card issuer believes that you were responsible for any disputed transactions, it is up to them to prove it.

You should always keep your PIN secure and you should not share it with anyone. Some banks now issue a one-off code to allow a certain amount of cash to be withdrawn from your account without your card, should you need someone else to obtain cash on your behalf.

How to stay safe from fraud

Your bank, card issuer or the police will never:

  • Phone you to ask for your 4-digit card PIN or your online banking password, even by entering them into the telephone keypad
  • Send someone to your home to collect your cash, PIN, payment card or cheque book if you are a victim of fraud
  • Ask you to update your personal details by following a link in a text message
  • Ask you to transfer money to a new account for fraud reasons, even if they say it is in your name.

Always be wary of any unsolicited calls, texts or emails asking for your personal or financial information. If you are at all suspicious, do not call the number in the text message or email. Instead wait five minutes and call your bank on a number that you trust, such as the one on the back of your card.

Fraudsters can alter the telephone number that appears on your handset during a phone call or the sender name on a text message. The display cannot be trusted and should not be taken as confirmation that the approach is genuine.

There is more fraud prevention advice available on the Financial Fraud Action UK website.

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