Fraud call concerns

roadweary

We just opened up a Shawbrook account based on recommendations in an article from MSE.  Followed the link.....shawbrook.co.uk domain.

Tried to transfer funds from First Direct and got called by their fraud team advising that there was a cloned Shawbrook, as can be seen on the FCA website, and were we sure we had the right one?!

Shawbrook don't participate in the faster transfers or identification service - where a match of the business against the sort code and account number is given when you try to set up a payment.

We had already done a £1 transfer last night which hit this morning, but obviously this has made us jittery.

We've called the 0345 number from their website (shawbrook.co.uk) and also the geographic landline number from the FCA website, and they have confirmed the account details and that the balance is the £1 that we just put in.

We're ready to put the very large payment in, but just want to make sure we've done all our due diligence.

What I'm surprised about is that the First Direct fraud team couldn't somehow check that the transfer was to the legitimate Shawbrook from the account number and sort code....but again, I guess that is down to the fact that Shawbrook don't participate in that scheme as above.

So, yeah, I think we've done everything we can.....and I've never know a scammer website that is fully featured, issues OTP codes and mobile updates for deposits etc.....but anything else we should do before transferring all our savings?

Thanks,
R

Beddie

If your £1 arrived then you have nothing to worry about. I'd be happy to proceed on that basis.

GeoffTF

If you phoned the number given in the FCA Register for the legitimate firm, you should be OK.

roadweary

Although, since then, Coventry has a better instant access rate, and as a 'name' bank, probably has the fast transfer and identication via sort code / account number, so considering that... I suspect the bank undertaking the 'send' transaction identifying the recipient bank correctly is the ultimate protection...

Doctor_Who

It sounds like you've done everything you could to confirm it's the 'real' Shawbrook.

This is one of the reasons why I like providers such as Raisin and HL Active Savings. Maybe not always the top of the interest rate table (although very near), but once you have done transfers with them for an account with bank A, you are then confident to do transfers for accounts with banks B, C, D, E etc and you know the funds will arrive.

Bigwheels1111

FD are always like that.

So are most banks, if the Bank or building society does not have Confirmation of Payee

Most banks say its fraud.

I had the same iss with Shawbrook last year when setting up an Easy access acount.

You did the right thing, look and learn yourself.

You found a number, website etc.

Clicking links through MSE is a good start, Calling them is also very good.

Like you a £1 transfer is mt favourite way to start.

FD fraud blocked 3 large fixed saving transfers for me last year for Friday to monday.

I lost £133 interest, I also called Friday, Saturday and Monday to sort it.

I got the lost interest + extra for time effort and good will.

TSB gave me near on 1k when they messed up a few years ago.