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    Bank fraud alert texts

    Learn how fake bank fraud alert texts work, why one-time codes are sensitive, and what to do before responding.

    Reviewed May 14, 2026

    Quick answer

    A bank fraud alert text may be a scam if it pushes you to reply, call a number, click a link, or share a one-time code.

    Call your bank using the number on your card or open the official banking app before taking action.

    What it may look like

    "Bank fraud alert: suspicious purchase detected. Reply NO and read us the one-time code to stop it."

    Signs to slow down

    • The message asks for a one-time code, password, PIN, or full card number.
    • It says all your money is at risk unless you act now.
    • It gives a phone number or link instead of telling you to use the official app.
    • It tells you to move money to keep it safe.

    What to do next

    • Do not share one-time codes, passwords, PINs, or remote access.
    • Call the number on your bank card or use the official app.
    • Do not move money because a text or caller tells you it will protect your account.
    • If money already moved, contact your bank immediately.
    • Report suspected cyber-enabled fraud to IC3.gov when appropriate.

    How Olevo can help

    Olevo can give you a calm second opinion before you respond.

    See plansMore examples

    Trusted sources

    Top text scams of 2024

    Federal Trade Commission

    FTC data shows $470 million in reported 2024 losses from scams that started with text messages.

    Account Takeover Fraud via Impersonation of Financial Institution Support

    FBI Internet Crime Complaint Center

    FBI guidance describes financial institution impersonation through texts, calls, emails, and fraudulent websites.

    Cryptocurrency and AI Scams Bilk Americans of Billions

    Federal Bureau of Investigation

    FBI IC3 reporting names phishing, spoofing, extortion, and investment schemes among the most reported complaint types.

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    Is this text a scam?Wrong-number investment textsTask job texts

    Common questions

    Why is a one-time code risky to share?

    A one-time code can help someone finish a login, password reset, or transfer. Treat it like a password.

    What if the text says to reply YES or NO?

    Instead of replying, open your official banking app or call the number on your card to check the alert.

    Should I call the number in the text?

    Use a number you already trust, such as the number on your card or the bank's official website.