"Move Your Money to a Safe Account" — It's a Scam

Imagine getting a phone call from someone claiming to be your bank, credit union, or even a fraud investigator. They tell you your account has been compromised and that your money is at risk. Then they pressure you to move your funds into a so-called “safe account” to protect them.

It sounds like they're trying to help, and the urgency can make it hard to stop and think. But there's a catch: that “safe account” actually belongs to the scammer.This type of fraud relies on fear, urgency, and impersonation to convince victims to hand over their money. And once the funds are transferred, recovering them can be extremely difficult.

How the Scam Works

• The scammer pretends to be from your financial institution, law enforcement, or a fraud department.
• You receive a call, text message, or email claiming that you or your financial institution is under investigation.
• You are told your money is at risk and must be moved immediately.
• The scammer provides instructions to physically withdraw and provide them with the cash, directions for depositing funds in a crypto-ATM, or they provide information for a supposed “secure” account to move your money into.
• They pressure you to act quickly and keep the situation secret, and often give directions on what to say if questioned by your financial institution.

How to Protect Yourself

• Pause and verify. Hang up and contact the company or organization using a trusted number from its official website.
• Never move money to a “safe account.” Legitimate financial institutions will never ask you to transfer funds to protect them.
• Be suspicious of urgency. Scammers create panic to prevent you from thinking clearly.
• Do not share security codes or passwords. Online credentials, one-time passcodes, and verbal passwords are for your use only.
• Report it immediately. If you receive a suspicious call, text, or email, contact us right away.

Remember: If someone tells you to move your money to keep it safe, it's almost certainly a scam.

It’s important to remember you’re not alone. Scammers are very skilled at making their schemes seem real, and it’s easier than most people think to fall for them. If it happens, there’s no need to feel embarrassed. What matters most is reaching out for help and taking the right steps forward.

If you think you may have inadvertently shared your personal information with a scammer, please reach out to us right away. You can call us at (805) 733-7600, visit your nearest branch, send a secure message through mobile or online banking, or use the phone number on the back of your debit or credit card.