What should I do if I get texts about a bank token or unauthorized transfers?
Answer
Treat unexpected banking texts as a warning sign: contact your bank’s fraud department using the number on your card or statement, not numbers in the text, and dispute unauthorized transfers promptly.
Before you start: stop right away if…
- Banks will not ask you to share one-time codes with a caller who contacted you first.
- Do not transfer money to 'safe accounts' at a stranger’s direction.
Follow these steps
Ignore links and codes in the text
Do not tap links, install apps, or read one-time codes to anyone who messaged or called about the alert.
You should see: You avoid handing attackers access to the account.
Call the bank’s official fraud number
Using the number on your card or statement, report the unexpected token message and ask to review recent electronic transfers.
You should see: Fraud support verifies activity and can freeze cards or tokens.
Dispute unauthorized electronic transfers
Clearly state you are disputing unauthorized EFTs and want a Regulation E error investigation, and ask about provisional credit timelines.
You should see: A formal dispute is opened with a reference number.
Change online banking credentials on a trusted device
From a known-safe phone or computer, change the banking password and turn on stronger multi-factor options the bank provides.
You should see: Account login is secured against further unauthorized access.
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Extra tips
What to look for: Texts saying a token was activated, unexpected transfer notices, and whether you initiated any new digital wallet or card-on-file setup
Before you change anything: Do not tap links in the unexpected text. Do not share one-time codes with callers. Use the phone number on the back of your card. Gather recent statement dates for dispute timing.