Latest news with #RuthJacksonKirby
The Sun
3 days ago
- Business
- The Sun
I felt sick when a scammer stole £2k from my bank despite writing about fraud for 20 years – the red flags I ignored
DRIVING home from an emergency vet trip for my miniature schnauzer, Luna, and my phone rang. I pulled into answer and my mind was racing. It was two days before we were due to go on a two-week family holiday to France and I was juggling picking up the kids from nursery. 1 'Hello? Is that Ruth Jackson-Kirby…', a calm man said, with a professional voice, 'I'm from Santander's fraud team. There's been a suspicious payment on your card'. My stomach flipped. This is the last thing we need, I thought. He knew everything - my name, my credit card provider, the exact product, the colour of the card, and even the last four digits of a card that I'd cancelled months earlier due to fraud. 'In order to reverse the transaction, I need you to approve it in your app,' he said. He asked me how someone could've got my card details. Had I used it somewhere dodgy? Responded to any texts from HMRC or the police? We spoke for around 20 minutes — he waited until I got home, as I didn't have the card with me. Then he told me the transaction was with a car hire firm in Spain, Discovery Cars. He said he could reverse it — but I'd need to approve it in the app first. I hesitated. But he reassured me that it was just a step in the refund process — and that only a Santander staff member could trigger the app notification. I was flustered and distracted. I tapped approve. Despite my two-decade long career as a financial journalist where I write about scams for a living, I didn't question it. It was only when he started talking about a second transaction that I realised and hung up. But it was too late - £2,059 disappeared from my bank. I had become a victim of an impersonation scam – where criminals pose as your bank, the police or HMRC – are the most common cons around. 'Despite the rise of AI, what we're seeing right now is criminals continuing to use tried and tested methods,' a National Trading Standards spokesperson told The Sun. 'These include impersonation scams that see criminals bombard consumers with texts, emails or calls that appear to be from banks or other trusted organisations like the NHS, HMRC or parcel delivery firms.' While I was on the phone to Santander – having dialled the number on the back of my card – he rang back five times. When I finally got through, the real fraud team confirmed I'd been scammed. A payment to Discovery Cars for £2,059.99 had gone through. I felt sick. I couldn't believe I'd fallen for it. I've written about scams for 20 years. Now I was the victim. Thankfully, Santander refunded the money four days later. But I barely slept in the meantime. I thought I'd lost the money. 'Scammers are ruthless – and impersonation scams are rife,' says Michelle Pilsworth, head of fraud and customer experience at Santander. 'Scammers use personal data that they have taken from interactions with the individual or via the dark web to convince them to trust them, and in turn, part with their money.' Someone at Santander told me that it often starts with a text saying you need to pay a fine or unpaid bill. You click, tap in your details, hear nothing more. Then a year or two later, a scammer uses those details in a call like the one I received. The red flags I ignored LOOKING back there were red flags on the call, I just didn't notice them. The second time he called, my husband overheard and picked up on something I'd missed: the scammer used my maiden name. I haven't been great at updating my name everywhere, but my bank would use my married name. He also mentioned a credit card I'd cancelled — but that card wasn't from Santander. A real Santander employee wouldn't have had access to that. And when I started hesitating, he turned up the pressure. 'We need to act now to reverse the payment,' he said. Creating urgency is a classic scam tactic, and I fell for it In my case, the scammer put the charge on my credit card. Santander refunded it quickly, but if they hadn't, I could've claimed under Section 75 of the Consumer Credit Act. This law means credit card providers must refund you if the goods or service don't arrive, which they wouldn't have done, and they cost between £100 and £30,000. If I'd paid straight from my current account, it would've been a type of Authorised Push Payment (APP) fraud. Since new rules came in last year, banks must refund victims of APP scams — up to £85,000, though they can deduct a £100 excess. But if you ignore your bank's warnings or wait too long to report the fraud, you might not get your money back. The same scammer has called me twice since. Now I know what to do. 'I'll call you back,' I say, and hang up. That's my advice to everyone. If someone calls saying they're from your bank or card provider – don't even listen. Don't argue. Don't let them draw you in. Hang up. Then find the right number and call back yourself. If it's genuine, they'll tell you. And if it's not – you've just saved yourself a lot of money. .
The Sun
13-05-2025
- Business
- The Sun
The best easy access savings account to make hundreds of pounds – and the one that could trick you out of cash
FINDING the right savings account is tricky - but there's one account that we all need to watch out or it could cost you hundreds of pounds. Personal finance journalist Ruth Jackson-Kirby has been writing about savings for 20 years - here she reveals the four questions to ask yourself before you apply. 3 Easy access accounts are important. Experts say you should have at least two months' worth of salary saved in case of an emergency and you need to be able to access this cash without paying a fee or comprising the amount of interest you'll earn. However, many of these so-called easy access accounts come with string attached and if you fall for the wrong one it could cost you hundreds of pounds. You need to avoid any account that has limits on how often you can withdraw cash, if the rates drops after a few months or if there are hefty minimum amounts to open an account. Sarah Coles, head of personal finance at Hargreaves Lansdown, said: "The easy access accounts with the highest rates come with strings attached. "If they suit your needs, there's nothing to worry about, but you need to go in with your eyes open and check the small print before you apply. "The key is to make these accounts work for you, rather than falling foul of the small print and paying a horrible price." I checked the top 10 best-buy easy access savings accounts and found only two that truly offered easy access to a top interest rate. The rest came with catches. Break the rules and you could lose out on interest. The account worth applying for The good news is you don't have to jump through hoops to get a decent interest rate. There are still accounts out there that are easy-access, it's just important to not get duped by dud ones. Charter Savings Bank's Easy Access account ticks all the boxes. It pays 4.46% with no bonus rate, no linked account, no minimum balance and, best of all, you can access your money as often as you like. For example, if you save £1,000 in this account over the course of 12 months, you'll earn £44.60 in interest. Switch bank accounts for free perks The accounts with traps 3 Sidekick is currently leading the way with the highest easy access rate, offering 4.76% through its High Yield Cash Reserve account. Although the account boasts no withdrawal restrictions, savers must maintain a minimum balance of £5,000 to start earning interest. This threshold is, for most, higher than the amount most major banks suggest for an emergency fund, which typically covers three months' worth of essential expenses. Meanwhile, Atom Bank's Instant Saver Reward pays 4.75% but make a withdrawal in any given month and your rate will fall to 2.5%. For example, if you deposit £1,000 and withdraw £100 in January, May, and September, your interest rate will drop to 2.5% for those three months. As a result, you'd earn less interest during those months compared to the usual 4.75%. Over the year, these three withdrawals would cost you roughly £13.18 in lost interest. Monument Bank's Limited Access Saver pays 4.75% but make more than three withdrawals and it drops to 4.25%. Other deals seem great until you see that you need a £25,000 minimum to open the account. I've also seen lots of short-term bonus rates. This when they offer an initially high interest rate, only for it to end after a few months. "The problem is they are advertising the rate as an AER (annual equivalent rate) when the headline rate is not the same thing,' says Anna Bowes, from financial adviser firm The Private Office. "The AER is supposed to help savers compare how much they can earn over 12 months – so taking into consideration any short-term bonus." Take Chase Bank's saver account which advertises a rate of 4.75% AER, including a 1.75% six-month bonus. Then the interest falls to 3%, meaning the actual AER is just 3.88%. If you put in £5,000 expecting a 4.75% return, you'd earn nearly £50 less than expected. The four questions to ask and avoid dud accounts 3 If you are on the hunt for a new savings account, you can no longer assume that the top of the table easy access savings account will give you the best rate. Here's what you need to check. Firstly, Is there a bonus rate? If there is, will you remember to move your money when it ends? If the answer's no, then avoid it. Now check this. What are the rules on withdrawals? I must admit I snapped up a good rate that limits me to four withdrawals a year. But I use it for our holiday money so I know I can plan and stick within the limit to keep the good rate. Thirdly. Do you need a linked account? If you're not switching your current account, it may not be worth the hassle. Although some linked deals offer both a decent savings rate and better current account perks. When I was looking for a new bills account Santander offered tempting cashback, and I now enjoy a 6% interest rate on a linked savings account. Although it falls to 4% after 12 months. And finally. Is it app-only? Make sure you are signing up for an account you'll be able to use. Ultimately, easy access savings accounts are often anything but easy. How to find the best savings account The best account for you depends on how you plan to use it. 'Super-keen rate chasers can benefit from short-term bonuses,' says Sarah Coles, head of personal finance at Hargreaves Lansdown. 'Someone using a limited access account for a couple of very specific expenses over the coming year can get a better rate into the bargain. 'Be honest with yourself and pick the kind of account that suits you best.' You can use a comparison site such as MoneyFacts or MoneySupermarket to find a table of the best rates. You then just need to check the small print to find the best rate which suits how you will use the account. Want a rate that won't vanish? 'The only answer to this is to fix,' says James Blower, the Savings Guru. 'All easy access rates can be changed.'
