Revolut , together with Chase and Modulr , has agreed to sign up for the 159 short-code phone service that allows individuals in the UK to directly call their bank when worried about potential scams. By signing up for 159, the phone service that connects people with their bank when they receive a suspect call on financial matters, Revolut, Chase, and Modulr allow the scheme to cover 99.2% of UK current accounts.

Also, the addition of Chase and Modulr raises the number of banking destinations on 159 to 19, with Revolut still having to complete its onboarding process in the upcoming weeks. The three financial institutions join Barclays, Co-operative Bank, First Direct, Halifax, HSBC, Lloyds Bank, Metro Bank, Nationwide Building Society, NatWest, Santander, Starling, Tide, TSB, and Ulster Bank in the 159 anti-fraud scheme. Before this news, Monzo signed up for the service, also enabling its customers who believe they were tricked into offering cash or their private data to hang up and dial 159 to chat directly with their bank about the call.

When commenting on the announcement, officials from Chase Bank underlined that the 159 hotline represents a critical service, offering a simplified option for customers to call the financial institution in case they suspect they are being targeted by a scammer. At the same time, Modulr mentioned that considering the current financial landscape, where fraudulent activities have increased substantially, fraud prevention is essential for both institutions and their customers. 159 scheme’s support in detecting scams Launched in 2021, the 159 anti-fraud scheme focuses its efforts on providing an efficient way to connect UK banking customers with their bank if they receive a suspicious call about financial matters.

The decision to introduce the service came as a result of increased fraudulent activities, with UK individuals and small businesses experiencing losses of nearly GBP 470 million in 2020. The funds were stolen by criminal gangs impersonating a bank or other service provider and encouraging people to make a payment or transfer funds. Since being introduced, over 70,000 calls were made to 159, with officials underlining that the scheme works towards safeguarding people from potential threats.

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