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Money for Life work in partnership with the Money Advice Service, an independent organisation set up by government. Money AdviceService provides free, unbiased money guidance across the UK to help people make the most of their money.  If you have a question or need help, you can chat to them here.

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Chat to the Money Advice Service
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Saturday, 9am to 1pm.

 

Quiz: Do you know how to keep your money safe?

Every year people lose money through scams. These can come from phone calls, text messages, postal letters and email, and usually involve somebody trying to gain access to your bank account. If you’re thinking you’re one step ahead of the scammers, take our quiz.

Question 1

If the website has my bank's logo on it, then the site is official.

False

WRONG... The answer is False

Always check that you're on the bank's official website and that you've downloaded the right banking app (there are lots of fake ones out there). Always check the website address to make sure you are in the right place.

Question 2

How do you know if a site you are on is secure?

The address starts with HTTPS

WRONG... The answer is The address starts with HTTPS

Look out for HTTPS:// and the padlock symbol 
That's for a secure site, you should only ever enter your card details on secure sites. And use a secure WiFi network (not public WiFi) when you're banking or buying online.

Question 3

Keeping your device software up-to-date helps prevent against hacks

True

WRONG... The answer is True

The more up-to-date your devices, the more secure they are from hackers.

Question 4

It's a good idea to write your passwords down somewhere in case you forget them

False

WRONG... The answer is False

Don't save your login or card details and definitely don't share your passwords, passcodes or login details with anyone. If you have a bitcoin wallet on your phone, make sure you back up the keys too. Use more than one password at a time and change them regularly. Try to stick to combinations that would be hard for others to guess, avoid using your birthday, for example.

Question 5

In case you lose your phone the best idea is to...

...get a phone tracking app

WRONG... The answer is ...get a phone tracking app

If you use a banking app or ApplePay, get a phone tracking app so you can secure your phone or delete your data if it goes missing.

Question 6

Setting up text alerts with your bank is a good idea

True

WRONG... The answer is True

Set up text message alerts for bank transactions and ask your bank to alert you if your balance drops under a certain amount then you'll know straight away if something dodgy is happening.

Look over your bank statements regularly and if you see anything unfamiliar at all, even for a small amount, question it.

Question 7

Saying my password over the phone is safer than typing it in.

False

WRONG... The answer is False

Whisper! It's easy to accidentally share your bank details with everyone on the bus. If you're giving payment details over the phone, make sure no one overhears you.

Question 8

How do you know if an email is safe to reply to?

There's no real way, but you can learn to recognise them

WRONG... The answer is There's no real way, but you can learn to recognise them

Learn to recognise scams and phishing emails that trick you into giving out your details. They often pretend to be from somewhere official (like banks or student loan companies), people who need help or someone you care about (like friends stuck abroad). Look out for:

Emails that only use your first or second name (not both)

Poor spelling and grammar

Anything that says it is really urgent or that you shouldn't tell anyone

Anything that tries to make you login through a link on the email (type the address separately and go through the banks official website)

Question 9

Is it safe to give my details over the phone or in reply to an email?

Yes
No

WRONG... The answer is No

Never give out any of your details over email or in reply to a phone call
If possible, go into your bank to check or call the official number on your card or your paperwork.

Question 10

As long as I report my contactless card lost or stolen immediately, I'll get my money back if somebody uses it without my permission.

True

WRONG... The answer is True

If your contactless card gets lost or stolen anyone can make payments on it up to £30 but if you're a victim of fraud you'll get your money back, so make sure you report it to your bank. You might be worrying about people stealing money from your contactless card by waving a device near your pocket this is an urban myth.

Question 11

Where should you keep your savings?

In a savings account

WRONG... The answer is In a savings account

A saving account is a pretty safe place for your money to be. You're protected from fraud and if your bank is UK regulated then you'll be protected up to £75,000 in the unlikely event that your bank goes bust. Money Saving Expert has some good advice on what to do if you want to store a large amount of money.

Question 12

Cash machines are totally safe

No

WRONG... The answer is No

If it looks like someone has messed with the slot where you put your card, don't use it.
Cover your PIN with your hand as you key it in.
Don't let anyone stand too close behind you or try to distract you. Wait until they have gone or walk away and use a different machine later.
Don't re-enter your PIN if the machine eats your card. Call your bank.
Keep cash in your bag or use a chain to attach it to your pocket if it's inconvenient to get at your money, thieves usually won't bother.

Well done!
Check out more articles about keeping your money safe here.

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Money for Life work in partnership with the Money Advice Service, an independent organisation set up by government. Money AdviceService provides free, unbiased money guidance across the UK to help people make the most of their money.  If you have a question or need help, you can chat to them here.

Launch Chat

Chat to the Money Advice Service
Monday to Friday, 8am to 8pm
Saturday, 9am to 1pm.