💸 What to Do If You Fall Victim to a Bank Transfer Scam — Step-by-Step

Friday, 07 August 2026

A bank transfer (or APP — authorised push payment) scam happens when you're tricked into transferring money yourself to a fraudster's account. It's the most damaging scam in the UK — losses run into the hundreds of millions of pounds a year, and because you authorised the payment, it used to be very hard to get money back.

That changed. Since October 2024, UK banks must reimburse victims of bank transfer scams up to £85,000 — but only if you act quickly and follow the right steps.

If you've just realised you've been scammed, do this in order. Every minute counts.

1. Call your bank immediately — use 159 if you're unsure

  • Call the fraud line on the back of your bank card — not a number from the scammer's message.
  • Can't find it? Call 159 — the UK-wide fraud hotline that connects you directly to your bank's fraud team.
  • Ask them to recall the payment. Faster Payments can sometimes be recalled if the money hasn't been collected yet.
  • Tell them it was a scam, not a mistake. The bank should flag the receiving account, which protects other victims.

⚠️ The golden rule: never call a number the "bank" gave you in a text, email or phone call. Scammers impersonate banks constantly. Hang up, wait five minutes, and call the number on your card.

2. Ask about reimbursement — you have rights

Under the Payment Systems Regulator rules, banks must reimburse APP fraud victims up to £85,000, usually within 5 working days.

  • The bank may apply an excess of up to £100.
  • You can be refused if you were grossly negligent — e.g. ignoring explicit bank warnings, or handing over one-time codes.
  • Don't accept "no" without asking for the decision in writing and the reason.

3. Report it to Action Fraud

  • Report online at actionfraud.police.uk or call 0300 123 2040.
  • You'll get a crime reference number — keep it. Your bank will ask for it, and you'll need it for any insurance claim. See our guide on crime reference numbers.
  • Every report feeds the National Fraud Intelligence Bureau and helps stop the next victim.

4. Check for further damage

  • Change your banking passwords and any other account using the same details.
  • Check other accounts — scammers often probe cards and accounts after a successful hit.
  • If you shared one-time codes, treat all your accounts as compromised.
  • Watch for follow-up scams: fraudsters sometimes call pretending to be a "recovery service" offering to get your money back for a fee. That's always a scam. Only Action Fraud and your bank.

The 3 things that slow you down (avoid them)

  1. Shame and delay. Scammers rely on embarrassment. Report within hours, not days.
  2. Contacting the bank via the scammer's channel. Always use the number on your card.
  3. "Recovery companies" that ask for an upfront fee. Legitimate recovery is free through your bank and Action Fraud.

How to protect the whole family

  • Agree a family password — if someone "from the bank" calls, ask them to confirm it. Real banks will never mind.
  • Talk to older relatives — they are disproportionately targeted by courier fraud and fake police officer calls.
  • Never move money to a "safe account" — no bank will ever ask you to transfer money to a new "holding" account. It is always a scam.
  • Set up payment limits and confirmation prompts in your banking app — friction is your friend.

Quick checklist

  • ☐ Called bank fraud line (or 159) and requested payment recall
  • ☐ Asked for reimbursement under the £85,000 rules
  • ☐ Reported to Action Fraud and saved the crime reference number
  • ☐ Changed passwords and checked other accounts
  • ☐ Told the family — so they don't fall for the same trick

Related guides

CyberAware UK — helping families report crime, recover from scams, and stay safe online.