young man with long nose talking on mobile phone impersonating a bank call.
Blog Post

Tips to Avoid Bank Imposter Scams

  • Date Posted: January 10, 2024

Have you or someone you know received a call from someone claiming to be your bank? And they even made it look like they’re calling you from your bank’s main number? Scammers now have access to technology that enables them to fake the number they’re calling from by making a false number appear on your caller ID. This spoofing scam happens when a scammer pretends to be someone from your bank and attempts to contact you. To make their communication seem legitimate, they often already know some of your personal or account information.

In most cases, the scammer will urgently say that there’s suspicious activity on your account, and in order to stop it, you’ll need to provide personal information. This information can include your whole account number or Social Security Number (SSN), a Personal Identification Number (PIN), an access code from a text or email, or your username and password. Do not provide this information to anyone over the phone.

5 Tips to avoid bank imposter scams:

  1. Watch out for scammers who can spoof a phone number so the caller ID reads your bank’s name.
  2. DO NOT share your account numbers, SSN, access code, password, or PIN with anyone who contacts you requesting it.
  3. Know that Coastal will not ask you to send money to anyone, including yourself, to “reverse a transfer,” “receive a refund,” “protect your money,” or anything similar.
  4. If you receive a request to authorize money or a transaction you didn’t initiate, no matter how small the transaction amount is, don’t authorize the transaction and contact your Banker. Even if they claim to be from your bank, don’t enter the code online, in your banking mobile app, or share it with anyone. This is called a micro-transaction and is another scam tactic. Read more about micro-deposits here: What is a Micro-Deposit, and How Can it be a Scam?
  5. If you receive a suspicious phone call, hang up immediately. If you receive a suspicious text, don’t respond. If you receive an email with a link, don’t click it. Contact your bank directly using a legitimate source, such as a phone number on their website or app, before taking further action.

Remember to be skeptical of unsolicited communication. If you ever have concerns about a communication, contact your Banker before taking action.