Money Saving Expert, founded by Martin Lewis, has issued a new alert
Money Saving Expert is encouraging UK bank customers to familiarise themselves with a straightforward three-digit code to help safeguard their hard-earned money.
In a post on X, previously known as Twitter, MSE – established by Martin Lewis – outlined what individuals should do if they “receive a call from your ‘bank’ that you think doesn’t feel quite right”. The warning goes on: “Hang up immediately and dial 159. You’ll then be connected directly to your actual bank, which should be able to advise whether the call you received was genuine or not!”
If you get a call from someone purporting to be from your bank but have doubts about its authenticity, you can ring this number to be connected straight to the legitimate bank. Additional information available on the MSE website clarifies that while this is a useful tool, it may not stop “sophisticated scammers” from reaching out to you.
Mr Lewis cautioned: “This does not guarantee you safety, because sophisticated scammers can spoof a dialling tone so you think you’re calling your bank – but the scammer provides a ringtone and an answer.
“To be totally safe, dial 159 on another phone, or you could call a friend’s phone first and if they answer ‘Hello Barclays’ you know there’s a problem. Or you can just could wait 20 minutes and try 159 on the same phone.”
Folks are being encouraged to ring 159 if someone reaches out to you purporting to be from your bank – even if they don’t appear suspicious. According to MSE, you should also call 159 if you’re approached by someone claiming to be an authority figure (like the police) and instructed to transfer money – even if the request appears legitimate, or if you get a call concerning a financial issue and it seems dubious.