NatWest GetCash App Hit By Fraud – Customers Victims of Money Scam!
Back in June, NatWest launched its GetCash app which let you get up to £100 from a cash point without using your debit card. All you needed was the app that could be triggered from either a smartphone or iPad. Not long after the app was launched, reports began cropping up that fraudsters were able to access account information to make unauthorised withdrawals for hundreds of pounds. Even if you never signed up for the NatWest app, you might have been hit by this scam!
NatWest’s website touts the GetCash service as a great alternative to get the cash you need “whether you have left your wallet at home and need money during your lunch hour” or any other time you need cash and don’t happen to have your debit card on hand. To use GetCash, you tell the app how much money you want to withdraw – from £10-£100 per instance – and it gives you a six-digit PIN code to enter at a cash point within a three-hour validation window. You can withdraw any number of times up to your daily cash withdrawal limit.
NatWest offers the app for account holders in England and Wales who have an Android, Blackberry or iPhone smart phone or iPad. But after rip-off reports started making headlines, NatWest rapidly snatched the app back, although they were saying yesterday it’s nothing to do with the fraud and insists the system is down because “We’re currently updating the Get Cash application” and added “The service will be back on our mobile app soon.”
Today though, NatWest has changed its tune and admitted to BBC that “We are aware of an increase in fraudsters targeting customers with phishing attacks to gain access to the Get Cash service. We have currently disabled the Get Cash service while we increase the level of security required. We will enable the service again once this change is complete. We will refund any customers who have suffered loss as a result of fraud via the Get Cash service.”
BBC Radio’s Money Box programme was flooded with calls from angry NatWest customers who’ve seen their accounts drained through GetCash app fraud. One listener reported 11 separate transactions that cheated him of £950 over just three days. Customer Tim told BBC that he’d never even downloaded the GetCash app to his smartphone to allow for the security breach.
NatWest accused its customer of allowing the fraud by releasing information in response to a phishing email that allowed the theft. Tim maintains he’s seen fraud emails, but has never sent anyone his banking information. NatWest refunded the customer his £950 as a “gesture of goodwill.” Other customers have been hit by the fraud as well – with one Money Box listener saying she’d lost £2500 in the GetCash scam.
What’s frightening about this money-draining scam is that many of the customers hit never signed up for the service. NatWest insists that there are several steps to go through to initiate the GetCash protocol and that a letter will be sent to your home alerting you to enrollment. So keep an eye out for notice you’ve been signed up that so you’ll know if you’ve been targeted by fraud.
And until NatWest works out the bugs, if you’ve signed up for the service, I’d shut it down straight away! Also keep a close eye on your withdrawal ledger to make sure you’ve not been a victim of the scam!
FSA has indicated they are aware of the hitch. NatWest’s GetCash app seems to have proven that not only does it make it more convenient for customers to get cash without their debit card, but it’s also more convenient for fraudsters to tap your cash as well! It’s bad enough if you’ve lost money in the GetCash scam, but have you also lost money to the PPI mis-selling scam? If you have, Empire Claims can get it back for you - contact us for a chat about how we can help you get the redress you’re due!
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