A text claiming to be your bank's fraud department — 'Did you make a $X charge? Reply YES/NO' — followed by a call to 'secure your account' is a common bank-impersonation scam. Paste it for an instant read.
Quick answer — Some banks do send fraud-alert texts — but they never ask you to share a one-time code, your password, or to move money to a 'safe account'. If a 'fraud agent' asks for any of those, it's a scam. Verify by calling the number on your card.
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How the bank-text scam works
The text is bait. When you reply 'NO' (or call the number), a 'fraud agent' calls, often from a spoofed bank number, and walks you through 'protecting' your money — by reading out a one-time code, 'verifying' your login, or moving your balance to a 'safe account' that's actually theirs. Real banks may text fraud alerts, but they never ask you to share a one-time code or password, or to transfer money to keep it safe.
What to do
Don't reply, call the texted number, or share any code. If you're worried, call your bank using the number on the back of your card or in their official app — not the message. Never move money to a 'safe account' or read out a verification code; that request alone proves it's a scam. If you already shared a code or login, call your bank immediately and change your password.
If you already paid or shared your info
Don't panic — acting quickly limits the damage. Do these now:
Typed your password on a linked page? Change it immediately — and anywhere you reused it — then turn on two-factor authentication.
Entered a card number? Call your bank to freeze or replace the card and watch for unauthorized charges.
Read out a one-time / 2FA code, or granted remote access? Contact the company and your bank now, and run a security scan on the device.
Shared your SSN or ID? Make a plan at IdentityTheft.gov and consider a credit freeze.
Report phishing to the FTC at reportfraud.ftc.gov (and ic3.gov for online scams).
FAQ
Will my bank text to ask if I made a charge?
Some banks do send fraud-alert texts — but they never ask you to share a one-time code, your password, or to move money to a 'safe account'. If a 'fraud agent' asks for any of those, it's a scam. Verify by calling the number on your card.
A bank 'fraud agent' asked for my one-time code — is it real?
No. No legitimate bank ever asks you to read back a one-time passcode — that code is exactly what they need to drain your account. Hang up and call your bank directly.