Scam letter claiming to be from the Co-op Bank

Stuart_W

I know the Co-op Bank like to send old fashioned letters, and clearly so do scammers.

I received an initially convincing scam letter in the post claiming to be from my bank. It is attempting to get me to invest in a fixed rate bond only available via a Raisin intermediary.

I was nearly caught off guard because it was a letter - I am always more wary of texts and phone calls. I have reported it to the bank who have been sent a copy. 

It's a clever trick as exclusive saving products can be available via third party intermediaries so sadly this probably works. Even the FCA's own banking scam page refers to online scams, telephone scams and text scams but doesn't explicitly mention those initiated by fake letters. 

Just thought I'd share here as a heads up that postal banking scams are still a thing. It arrived on the supposed deadline day - to encourage you to pay out quick. (name and address hidden on photo)

tacpot12

I agree this is quite unusual, and that there are relatively few clues in the letter to indicate that it might be scam. The typo in the name "co-operative Bank" rather "Co-operative Bank" is one, and the other is the time-limited nature of the offer (which therefore neeed the receiver to take immediate action without having the time to consider the wisdom of doing so). You have posted this on 19th September 2025, and yet the offer expires on 15th September 2025, so I expect you didn't have it for very long before the offer expired. 

Apart from that (and the lack of a signatory for Co-op Bank) there are no clues, and it could easily catch someone out. Well done for reporting it here and to the bank.  

ColdIron

ISA's    

flaneurs_lobster

As you say, unusual to get targeted scam postal mail, can't remember getting any at all (since the last election).
The rates "offered" are obviously higher than mainstream, but not outrageously so.

In some ways they could have tried harder - why call you Dear Valued Client when they have your name? And they've capitalised/not capitalised the bank's name 3 different ways.

Assume you are a customer of the Co-op Bank? Scammer must have known this to go to the trouble of faking this document, are you careful about discarding your post from the bank? Use your debit card at iffy corner shops or car washes?

Stuart_W

tacpot12 said:

I agree this is quite unusual, and that there are relatively few clues in the letter to indicate that it might be scam

One big one was it came in a stamped envelope with a second class stamp on. That wasn't enough for an A4 letter so it got a £1.50 royal mail surcharge, which irritatingly I paid thinking it might be a birthday card for my daughter. 

born_again

Does any bank address you as Valuable Client?

Given Co-op have their own ISA, why would they partner with a 3rd party such as rasin?

Stuart_W

flaneurs_lobster said:

Assume you are a customer of the Co-op Bank? Scammer must have known this to go to the trouble of faking this document, are you careful about discarding your post from the bank? Use your debit card at iffy corner shops or car washes?

Well anyone with my sort code knows I bank with the Co-op. My local water company had a data leak last year, and I am a member of Co-op Group and get my dividend paid into my bank account so they hold that information and member details were breached this year so it could have come from various places.

As Co-op like their paper and the bank probably have many older members, this is one for any elderly relatives that bank with the Co-op to be aware of. This letter would have probably worked on my inlaws.  

Stuart_W

born_again said:

Does any bank address you as Valuable Client?

Given Co-op have their own ISA, why would they partner with a 3rd party such as rasin?

It does seem a bit like a "beginner's effort" at a scam. Maybe they can't use mail merge. The idea that a bank would write to you to ask you to contact a third party to give them some money to pass back to the bank to access a bonus rate is rather odd.

MyRealNameToo

flaneurs_lobster said:

Assume you are a customer of the Co-op Bank? Scammer must have known this to go to the trouble of faking this document, are you careful about discarding your post from the bank? Use your debit card at iffy corner shops or car washes?

Why must they have known it? They dont know the OP's name hence they address it to "Valued Client" so it could just be a shot in the dark, though you'd imagine they'd use a bigger bank for that as the odds would be better. 

There's been plenty of data leaks including peoples payment methods so likely a reasonable proportion of the populations banks are known... though how they got the address and bank but failed to get the name is a bit odd unless they were just lazy and didnt want to have to match letter to envelope.

Stuart_W said:

tacpot12 said:

I agree this is quite unusual, and that there are relatively few clues in the letter to indicate that it might be scam

One big one was it came in a stamped envelope with a second class stamp on. That wasn't enough for an A4 letter so it got a £1.50 royal mail surcharge, which irritatingly I paid thinking it might be a birthday card for my daughter. 

How was it addressed? To you by name or something generic like the letter itself?

Stuart_W

It did contain my name  - but that was another give away. They used my Christian name and Surname, whereas the bank would address me as Title - Initial - Surname in the address of a bank letter and then proceed Dear Title - Surname.

brewerdave

GOSH! A throwback ! Can't remember the last postal scam I've had - probably the Nigerian Prince type .