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Keeping your savings safe

Online banking can make our lives easier, but it also creates opportunities for online scams and fraud.

Learn about the measures we have in place and the steps you can take to protect yourself and your savings.

Keeping your savings safe

Stay alert!

We are always looking out for fraud threats or scams that may affect you. Recently we uncovered a fraudulent website that claimed to be offering our savings accounts with a 5% interest rate.

We know our rates are good but, in the current climate, we can’t be that good!

Whilst we were flattered these scammers were using our name it was clearly a fraudulent attempt to gain personal details, so we’ve taken steps to have the website shut down.

How we help to protect you

Nominated bank account

Nominated bank account

We ask you to nominate only one bank account for sending and receiving money from to help protect your savings from fraud.

Website security

Website login

We will never send you an email or text message with a link which asks you to login to your savings account directly.

Secure details

Up-to-date details

We ask you to make sure your contact details are always up to date so we can easily get in touch with you if needed.

Report your suspicions

If you're ever in doubt about an email or phone call about your savings with us, contact us directly on 0800 052 2222 or email the savings team at security@paragonbank.co.uk.

5 ways to keep your savings safe

1

We will never ask you to transfer your savings to a different account for security.

Some scammers contact savers pretending to be their bank, or even the police, asking that you transfer your money to a “safe account”. We will never ask you to do that. If you’re ever contacted and asked to do this, hang up and call us directly.

2

Look for the padlock symbol

Secure websites have a padlock symbol in the address bar of the web browser. This means the website is secure and any information you share with that site is kept private.

 
3

Never give out your username or password

It might sound obvious, but sometimes fraudsters can convince people to share these details. Stay alert and never give out your security information.

4

Don't download apps or software

We will never ask you to download apps or software to allow us to access your computer. If, during a call you are asked to do this, hang up and contact us directly.

5

Trust your instincts

If something doesn’t feel right, then trust your instincts and question it. Be confident to challenge and refuse any unusual requests. Your data and security is yours to protect.

Take Five to Stop Fraud

Take Five is a national campaign that offers advice to help consumers prevent financial fraud.

This includes email deception and phone-based scams as well as online fraud - particularly where criminals impersonate trusted organisations

Find out more

Further tips for staying safe online

Six cybersecurity tips to keep you safe online

Cybercrime, such as identity theft, has been on the rise during lockdown.

Financial scams – knowing what to look out for

The lockdown has seen a surge in financial scams as criminals look to exploit the pandemic.

Protecting your business from scams during coronavirus

During Covid-19, criminals have been targeting businesses with scams and malware. Learn how to protect your business.

Coronavirus scams: How to spot and stop them

Spot the signs of a COVID-19 scammer and protect yourself from fraud.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551