How your 'CUCA Safe' account works

Bank transfer scams are on the rise, and the amount of money taken by fraudsters is growing at an alarming pace. You may have heard people refer to these types of scams as 'authorised push-payment fraud', 'wire-transfer scams', and 'bank wire fraud'.

Why is your current account more vulnerable

Your Current Account comes with a debit card, making it convenient to withdraw cash from a cash machine or spend money in shops or online. Unfortunately, the same things that make it easy for you to spend money also make these types of accounts more vulnerable to fraud.

Your other credit union accounts don't have a card and are less likely to be used regularly for day-to-day payment transactions. This makes it harder for scammers to find out the account details or steal money from you without your knowledge.

How do we protect you?

Because of these risks, we try to discourage you from keeping large amounts of money in your current account at any one time, where it might be vulnerable to fraud. It is much safer in a separate credit union account not linked to a debit card.

We make doing this simple. If your current account balance exceeds £2,000, our system will automatically transfer the excess amount into your 'CUCA Safe' account. This is a security measure designed to help protect you. In the unfortunate event that fraudsters were to gain access to your card details, this limit reduces the potential risk of loss.

You can move money back and forth between your CUCA Safe account and your current account at any time using online banking or by calling 0203 773 1751.