If this is you and you haven't spoken to our team yet, please get in touch as soon as possible.
To help offer peace of mind, we're continually working to reduce the risk and to mitigate the impact fraud can cause.
We have significant controls in place to help prevent fraud and protect your money in the worst-case scenario.
The digital age presents opportunities to use data to spot suspicious behaviour. We look closely at these patterns and build actionable insights to help keep your money safe.
That said, the best approach to preventing fraud is combined vigilance, so check out our tips on keeping your account and card safe.
Along with our banking partner, PPS, we've implemented card blocks on certain types of merchant.
These types of merchant have been identified as targets for fraudsters, but if you require their services for business purposes, you can use another card and transfer the money over from your Coconut account.
We monitor transactions in real-time, keeping a close eye on purchases that fit a known pattern of fraud, while looking deeper into other purchases to spot new types of fraudulent purchases and keep improving our detection.
If we spot that fits a known pattern of suspicious activity, we'll block your card/account and get in touch immediately to clear things up.
If you have any non-urgent questions and concerns about fraud, please get in touch via the in-app chat or write to us at [email protected].
Protection Against Fraud
If your card has been fraudulently used to debit money from your account, block your card via the app and our team will advise the best course of action. In most cases, we'll be able to assist by attempting to contact merchants to cancel fraudulently placed orders where possible, which should make refunds easier.
As a result, we could file a claim under the Mastercard Chargeback Scheme on your behalf, or assess alternative measures.