BOI warns of surge in text scam tricking customers into transferring money to ‘safe accounts’

Bank of Ireland is warning the public about the scam, which involves convincing texts and phone calls.

Some Bank of Ireland customers have been tricked into transferring money to bogus "safe accounts" in a sophisticated scam that has surged tenfold in 24 hours.

Bank of Ireland is warning the public about the scam, which involves convincing texts and phone calls.

A variation of wording is used in the texts. Among the texts reported to Bank of Ireland is one which advises the recipient that their “card has been placed on hold due to recent activity.” 

It adds: “To review and remove the hold, please contact us immediately at 019061952. REF:BOI7749”.

The company said: “Customers should be on particular alert for fraudulent texts that attempt to lure them into to calling a fake ‘bank’ phoneline – where the account holder is then duped into transferring funds to their secondary account, in most cases Revolut, and in turn a ‘safe account’, which is controlled by a fraudster.

"Reports of the scam to Bank of Ireland’s fraud line and Text Checker service have been on the increase since the start of the year and this week have shown an alarming increase, with daily reports this week over 10 times the number of those reported weekly in April and May.” 

The company outlined how the scam works:

• The customer receives a text message asking them to call a number about suspicious account activity.
• Messages appear to come from Bank of Ireland and may even appear in genuine BOI text threads. Examples include: “Did you log in from a new device?”, “Do you recognise this transaction?”, or “A transaction for [amount] to [merchant] was declined and your card has been placed on hold” followed by “If this was not you / if you don’t recognise this / etc. please call us back on [callback phone number].
• The message then urges the recipient to call back on a number—often a landline with an 01, 1800, or regional code.
• A fraudster answers the call, posing as a Bank of Ireland representative, and claims suspicious activity has been detected.
• The victim is asked if they have a Revolut or other secondary account. If they do, they’re instructed to transfer all their funds to that account.
• The fraudster then tells them to move the money again—this time to a ‘safe account’, supposedly for protection.
• Notably, the fraudster does not request login details, PINs, or security codes—avoiding typical red flags for fraud.

Nicola Sadlier, head of fraud, Bank of Ireland said: “We have been seeing a concerning pattern in the increase of this type of fraud. 

"This week’s escalation has resulted in the highest number of reports in a single day of this particular type of fraud, so we need our customers and the general public to be vigilant and recognise the warning signs. Our main advice is to look out for these texts and do not call back. And remember that Bank of Ireland will never ask you to move your money to another account to keep it safe. 

"If you think you have been a victim of fraud, call the bank’s fraud team immediately on the 24/7 freephone line 1800 946 764”.

Customers who receive suspicious messages are urged to email screenshots to [e-mail].

The bank also advises customers to use only trusted phone numbers—such as the number on the back of their card or within the official mobile app — to contact them.