Monzo has joined 159, the phone service that connects people with their bank when they receive a suspect call out of the blue about a financial matter.
If someone believes another person is trying to trick them into handing over money or personal details, they can hang up and call 159 to speak directly to their bank.
People should also remember that the 159 service will not call them.
Those taking part in the 159 scheme also include Bank of Scotland, Barclays, Co-operative Bank, First Direct, Halifax, HSBC, Lloyds Bank, Metro Bank, Nationwide Building Society, NatWest, Royal Bank of Scotland, Santander, Starling, Tide, TSB and Ulster Bank.
Since its inception in September 2021, the 159 service has received over 560,000 calls, with 233,000 being received in 2023.
Ashley Hart, director of fraud, fincrime and disputes operations at Monzo said: “Impersonation scams cost UK customers £170 million a year which is why we’ve partnered with Stop Scams UK and joined 159, enabling our customers to call us quickly if they’re worried they’re talking to a fraudster.”
Ruth Evans, chair of Stop Scams UK, an industry-led collaboration, said: “I am delighted to see Monzo join 159. The addition of Monzo means that 99% of UK current accounts are now covered by 159, ensuring that even more people are being protected from harm.
“The rapidly growing use of 159 since its launch in September 2021 clearly demonstrates both its value and need. It’s encouraging to see the message getting through: if you receive an unexpected or suspicious call on a financial matter: stop, hang up and call 159.”