Mobile banking is convenient, but it’s also a prime target for fraud. Scammers rely on speed, confusion, and trust, often catching people off guard. A good best practice is TO NEVER DEPOSIT A CHECK SENT VIA EMAIL OR THAT IS PRE-ENDORSED ON THE BACK. These are the five most common mobile deposit scams affecting credit union members today:
Protect yourself: Never return money from a check deposit until your credit union confirms it has fully cleared.
Protect yourself: Legitimate employers don’t ask new hires to deposit checks and forward funds.
Protect yourself: Avoid refunds tied to check deposits and use secure payment methods only.
Protect yourself: Download the Monterra Credit Union app only from the App Store or Google Play Store.
Protect yourself: Never deposit checks for anyone else. No exceptions.
If you believe you may have been targeted or may be a victim of a scam, call Monterra Credit Union at (650) 363-1725 or visit your nearest branch. You can also visit our Fraud & Security Center for more fraud prevention tips.
Together, we can #OutsmartTheScam.
1. The “Accidental Deposit” Scam
A stranger claims they sent you money by mistake and asks for a refund. The check they deposited is fake or stolen, and once your credit union reverses it, you’re stuck covering the loss.Protect yourself: Never return money from a check deposit until your credit union confirms it has fully cleared.
2. Fake Job or Work From Home Checks
Scammers pose as employers, send you a check “for equipment,” and then ask you to send part of it back. When the check bounces, you’re responsible for the entire amount.Protect yourself: Legitimate employers don’t ask new hires to deposit checks and forward funds.
3. Online Marketplace Overpayments
A buyer “accidentally” pays too much and asks for a refund. The check is fraudulent, and once it’s reversed, you lose both the money and the item.Protect yourself: Avoid refunds tied to check deposits and use secure payment methods only.
4. Fake or Spoofed Banking Apps
Scammers create apps or login pages that mimic real credit unions. When you try to deposit a check, they steal your credentials or reroute your deposit.Protect yourself: Download the Monterra Credit Union app only from the App Store or Google Play Store.
5. “Deposit This for Me” Scams
Someone asks you to deposit a check for them and promises a cut of the money. The check is fake, and you’re left owing the full amount.Protect yourself: Never deposit checks for anyone else. No exceptions.
Staying Safe
A few habits make a big difference:- Treat unexpected checks as suspicious.
- Wait for full confirmation from your credit union, not just “posted.”
- Don’t refund money tied to check deposits.
- Use official apps and secure networks.
- Report anything unusual to Monterra Credit Union right away.
If you believe you may have been targeted or may be a victim of a scam, call Monterra Credit Union at (650) 363-1725 or visit your nearest branch. You can also visit our Fraud & Security Center for more fraud prevention tips.
Together, we can #OutsmartTheScam.