Are You Dealing With a Chase Bank Scam?
When David Burdick received a text message asking whether he had made a recent Zelle transfer, he quickly replied “no.” But seconds later, his phone rang and someone claiming to be a Chase Bank representative told David that his bank account was at risk and he needed to transfer his money to a new “safe” account.
Convinced it was a legitimate call, David complied — and lost his entire savings [*].
Unfortunately, these types of bank scams are on the rise. According to the Federal Trade Commission (FTC) [*]:
In 2022, Americans lost nearly $8.8 billion to fraud — with nearly 150,000 cases of bank-related identity theft.
If you’re a Chase Bank customer, it’s important to know the latest scams targeting your bank account and how to spot a bank imposter — whether over the phone, in emails, text messages, or even on social media.
In this guide, we’ll cover the most common Chase Bank scams, the red flags to help you spot them, and what you can do to protect yourself.
What Are Chase Bank Scams? How Do They Work?
Chase Bank scams occur when fraudsters impersonate Chase Bank representatives and trick you into either transferring money, giving them access to your bank account, or sending them sensitive information, such as your Social Security number (SSN).
Knowing that people will do anything to make sure their savings are secure, scammers use social engineering to leverage that fear against their victims. While this is one of the oldest types of scams, fraudsters are constantly finding new ways to target people.
Some examples of Chase Bank scams that you might encounter include:
- Smishing texts. The most common bank scam involves “smishing,” or sending fake text messages designed to look like they’re coming from your bank. Often, these messages inform you of supposed unauthorized transfers from your account and ask you to call a fake number to resolve the problem.
- Phishing emails. Phishing emails are fraudulent emails made to look like they’ve been sent from your bank. A Chase phishing email may ask you to respond with a login code, or instructed to download a malicious attachment that gives scammers access to your bank account.
- Phone calls impersonating Chase employees. Many bank scams involve scammers pretending to be Chase employees. Over the phone, they try to get your account information, login codes, passwords, or two-factor authentication (2FA) codes.
- Fake websites. If you click on a phishing link that scammers send you, you might be taken to a fake website designed to look like the official Chase website. When you try to sign in, scammers get your username and password — and can then use this information to empty your savings and checking accounts.
Example: A Chase Bank Text Scam That Almost Worked
Bank scammers have devised many strategies to get people to part with their money. Most commonly, cybercriminals use fake texts that trick victims into following links to fake websites, calling fraudulent phone numbers, or disclosing their account details.
Here’s an example of a fake bank text message scam that almost worked:
If you only briefly glance at this text, you might think it’s from Chase Bank. It says “CHASE Alert” at the start of the text, it creates a sense of urgency by claiming that your account has been compromised, and it includes a link that could be valid.
Finally, by including a legitimate resolution option (visiting the branch), the scammers have made the text appear more trustworthy than it actually is.
However, if you pay attention, you’ll notice several warning signs of a scam:
- It doesn’t come from the official Chase bank short code. Scammers often manipulate caller IDs so that their texts and calls appear to come from Chase. However, Chase Bank (and most other banks) use specific short codes to send fraud alerts and notifications. For example, Chase will only text you from 28107, 36640, or 72166 [*].
- The text creates a sense of urgency. Scammers try to make you act quickly so that you don’t notice any red flags in their messages.
- It doesn’t include any personal information. The text message doesn’t contain any identifying information, such as your name. This is so it can be sent to hundreds of numbers at once.
- You are asked to click on a suspicious link. Banks almost never include links in their text messages; but if they do, the URL will lead to the bank’s official website. In this example, the URL has nothing to do with Chase and instead leads to a fake website.
The bottom line: Fake bank text messages almost always follow the same pattern. Be sure to double-check the information in a text by calling the number listed on the back of your bank card and talking to an official Chase Bank representative.
The 7 Latest Chase Scams To Watch Out For
Here are the seven most common recent Chase scams:
1. Text messages claiming that your Chase account is suspended
Scammers send out thousands of fake text messages every day — with many claiming that a Chase account has been suspended or blocked due to suspected fraud. These text messages either include a link to a fake Chase online login page (that will steal your account number and password) or a phone number to call.
If you engage with the scammers, they’ll try to pressure you into transferring or wiring your money to a “safe” account.
Don’t get scammed! Do this:
- Refrain from clicking on links in messages. Never click on links in unsolicited text messages or emails. Instead, always log in to your Chase account directly, either through the mobile banking app or the official Chase website. If the fraud alert is legitimate, you’ll see it in your account notifications.
- Check the short code. If Chase has messaged you, the text will be sent from its official short code. You can find Chase’s short codes here.
- Forward scam text messages to Chase’s fraud department. Whenever you receive a scam text, you should report it to Chase so they can follow up and warn others. You can also forward spam messages to your carrier at 7726 (which spells SPAM).
2. Wire transfer scams using spoofed Chase phone numbers
In this type of wire fraud, Chase customers receive a phone call from a number that comes up on their caller ID as “Chase” or “Chase Bank.” Upon answering the call, recipients are told about fraudulent withdrawals made from their accounts.
To prevent further theft, victims are asked to transfer the remainder of their money to a “safe account” while Chase deals with the scammer. In actuality, the whole thing is a scam. Fraudsters use spoofed phone numbers to trick victims into transferring their life savings.
Don’t get scammed! Do this:
- Never transfer money over the phone. Chase (and any other bank) will never ask you to transfer cash to a “safe account.” Instead, banks will likely put a hold on your account so that the scammer can’t steal your money. If anyone asks you to wire money to them, ignore them and contact your bank directly.
- Don’t trust your caller ID. Always make sure you’re talking to an official representative of your bank by calling the number on the bank’s website or on the back of your card. Never give out your personal information over the phone unless you’re 100% sure that you’re talking to a legitimate Chase employee.
3. Fake payment confirmation texts
Fake payment confirmation texts are fraudulent messages designed to get you to follow a link to a spoofed website. Similar to fake account suspension texts, scammers hope that you’ll be alarmed about the fake payment, follow the link, and give them your login details.
Don’t get scammed! Do this:
- Beware of URL shorteners. Scammers use URL shorteners to hide the fact that a link is taking you to a fake website. Chase will always instruct you to log in to your account directly at www.chase.com rather than via links in text messages.
- Never reply to text messages. By engaging with scammers, you give them more opportunities to trick you into sending them your money. Likewise, by replying to fake texts, you let the scammer know that your phone number is active and monitored — as a result, you’ll likely be targeted by additional scams. Instead, call Chase directly.
- Never give out your two-factor authentication (2FA) code. Legitimate Chase employees will never ask for your 2FA or a one-time passcode. If you’re asked for this code, hang up immediately and report the number to Chase’s fraud department.
📚 Related: How To Know If a Website Is Safe →
4. Robocalls claiming that your Chase bank card has been used fraudulently
Scammers can create legitimate-sounding robocalls that inform you about fake payments or account suspensions. Unfortunately, these robocall scams are becoming more and more popular.
Usually, the robocall requests that you press a button to be transferred to “the Chase Security Department.” If you press the button, you’ll be transferred to a scammer who will then try to gain access to your bank account.
Like the text versions of this scam, the goal is to make you panic so that you’ll listen to the instructions in the call without noticing any red flags.
Don’t get scammed! Do this:
- Call Chase directly. If you receive a robocall, don’t stay on the line and risk being transferred to a scammer. Instead, hang up and call Chase via the official number on their website. That way, you can be sure that you’re dealing with a Chase Bank employee.
- Use a spam call message protection service. Aura’s call and message protection feature uses industry-leading spam lists to block spam callers. Aura also offers an AI-powered Call Assistant that can screen your calls for scams — only forwarding legitimate calls to your number.
5. Fraudulent online lenders asking for your bank details
Everyone needs to access credit or borrow money at some point in their lives. However, scammers have come up with several forms of online lending fraud, all of which can drain your bank account.
One type of loan fraud that affects Chase customers occurs when fraudulent online lenders ask for bank or credit card details before sending the loan amount. They may say they need your details to transfer you the cash. Or, they might ask for an upfront payment to “prove” that you can receive the loan.
Don’t get scammed! Do this:
- Only accept loans from reputable lenders. Research any lender by checking online reviews and Better Business Bureau (BBB) ratings. If you can’t find reviews, the business is likely a scam, and you should seek a loan elsewhere.
- Watch for red flags. Many online lending scams are too good to be true. If a lender is offering loans without credit checks, or the loan has a suspiciously low interest rate, it’s likely a scam.
📚 Related: How To Tell If Someone Is Scamming You Online →
6. “Glue and tap” scams on Chase ATMs
Chase Bank customer Pamela Bongiorno recently uncovered a sophisticated scam targeting customers who were using Chase ATMs in San Francisco. Scammers realized that when customers use the tap feature on Chase ATMs, the transaction screen stays up — even after cash is ejected from the machine [*].
To exploit this vulnerability, scammers fill the ATM card reader with glue to make customers tap their cards. Then, after the customer leaves, the scammer goes up to the ATM and withdraws more money. Pamela lost nearly $1,000 to this scam, with other victims losing similar amounts.
Chase has announced that they’ll be making changes to their ATMs, but it’s unclear how long this might take.
Don’t get scammed! Do this:
- Beware of helpful strangers. If someone behind you in line or standing near you at an ATM suggests that you tap your card, don’t. This is a common scam.
- Make sure your ATM session has ended before leaving. Don’t walk away as soon as you get your money. Instead, make sure that the ATM session has ended and that no one else can access your account.
7. Fraudsters opening new bank accounts in the victim’s name
If fraudsters steal your personal information via data breaches or phishing attacks, they can use it to open a new bank account in your name, thereby hiding their identity. This type of fraud is often committed by “money mules” who need a clean bank account to use for transferring money and committing further fraud.
When the criminal’s activity is flagged as suspicious, it’s suddenly on you to explain to authorities what’s happened — and you could face serious charges.
📚 Related: What Is a Credit Card Skimmer? →
Will Chase Refund Scammed Money?
In some circumstances, Chase must refund scammed money to victims.
According to the Electronic Fund Transfer Act, if you’re the victim of ATM or debit card fraud, Chase must refund all but $50 if you file a fraud report within two business days [*].
Unfortunately, Chase often rejects fraud claims from victims. Usually, they state that there’s a lack of evidence or that the transfers were unauthorized — for example, if you gave scammers your login information or were tricked into transferring funds to another account.
Chase refused to refund one man who was the victim of the “glue and tap” ATM scam. Even after presenting video evidence of the scam, Chase claimed that there was insufficient evidence of fraud [*].
Here’s what to do if you want to maximize your chances of getting a refund:
- Double-check that you’re the victim of fraud. Review the details of the charge and keep in mind that some merchants’ names may appear differently. Make sure that the charge is fraudulent, and then move on to the next steps.
- Contact Chase Bank’s fraud department. The quicker you report the fraud, the more likely you will be able to receive a refund. If you report the fraudulent activity fast enough, Chase may be able to cancel or reverse the transaction.
- File an official identity theft report with the FTC and local police. In some circumstances, to stand any chance of getting a refund, you will need to back up your claim with reports from the FTC and local law enforcement. To file a report, head to IdentityTheft.gov and then contact your local police department.
📚 Related: Do Banks Refund Scammed Money? How To Dispute Fraud →
How To Protect Your Chase Account From Scammers
- Don’t give out your account numbers, passwords, PINs, or one-time-use codes. Banks will never ask for this information. If you’re asked by anyone to provide sensitive details, hang up immediately, and contact your bank directly.
- Make sure you’re using a strong and unique password for your Chase account. If you use the same password for multiple accounts, you increase the chance that it will be leaked in a data breach or more easily accessed by criminals. Your account password should be a minimum of 12 characters long and not be used anywhere else. For added safety, store your passwords in a secure password manager.
- Enable 2FA on your Chase account. Two-factor authentication (2FA) acts as a second line of protection that helps secure your account if scammers get access to your password. While you can use text messages to receive 2FA codes, it’s better to use an authenticator app like Authy or Google Authenticator.
- Never click on links in unsolicited emails or texts. By following links, you increase the chances of downloading malware or ending up on fake websites. Instead of clicking on a link, always load the official Chase website manually.
- Freeze your credit with all three bureaus. If you’ve given out your personal information, you need to freeze your credit to prevent scammers from taking out loans or opening accounts in your name. To do so, contact each of the three main credit bureaus individually: Experian, Equifax, and TransUnion.
- Verify any information in texts, calls, or emails by contacting Chase directly. Call the number listed on the back of your card or log in to your Chase mobile banking app directly.
- Consider identity theft protection with credit and account monitoring. Reliable identity theft protection helps keep your mind at ease. Aura offers an all-in-one digital security solution that provides three-bureau credit monitoring, the industry’s fastest fraud alerts, Dark Web monitoring, AI-powered digital security tools, a $1 million identity theft insurance policy for every adult on your plan, and more.
The Bottom Line: Protect Your Chase Account From Scammers
Bank scams are becoming increasingly common, as unlucky Chase customers have recently discovered. While there’s no way to guarantee recovery of lost funds, the advice in this guide will help you limit the damage.
To secure your Chase account from scammers, consider signing up for Aura. With industry-leading identity protection features, 24/7 U.S.-based customer support, and $1,000,000 in insurance coverage for eligible losses, you’ll be able to rest easy knowing that your accounts are safe.