Building society branches are playing a vital role in protecting customers from scams. 26% of customers report that branch staff have helped them avoid or resolve a scam, according to new research commissioned by the Building Societies Association (BSA).
Fraud and scams are now at record levels in the UK, with millions of cases reported each year and losses running into billions of pounds. Scam activity continues to grow in scale and sophistication, driven by increasingly convincing online impersonation, messaging-based fraud and digital deception techniques.
The findings show that in-person banking services provide an important safeguard against scams and fraud. One-third (33%) of customers report receiving fraud prevention guidance during branch visits, while two-thirds (68%) say their branch helps them feel their money is safe.
While older people remain more vulnerable to fraud, scam prevention extends beyond any single group, with support available through online, telephone and face-to-face services. Younger users are also benefiting, with around one-third of younger branch users reporting scam prevention support in branch.
The findings show that branch teams provide an additional layer of protection through everyday conversations and trusted relationships. In some cases, staff can step in before financial harm occurs by delaying payments, raising concerns and working with families, police or support services where appropriate.
This “human layer” of protection can help identify risks that may not always be visible through digital systems alone, particularly when customers are faced with sophisticated scams designed to appear genuine.
Importance of building societies on the high street
Building society branches also play an important role in supporting local high streets. Alongside providing access to banking services and scam prevention, branches help sustain footfall and activity in town centres, with many customers combining branch visits with other shopping or services.
These remaining face-to-face services play a wider role in supporting communities and local economies. The research finds that 44% of customers say visiting their building society is their main reason for going to the high street, while 31% say they would not visit otherwise. Regular visitors also spend an average of £75 per visit locally, supporting wider high street activity.
Key findings from the research:
- Branches play a key role in scam prevention: 26% of customers report that branch staff helped them avoid or resolve a scam.
- Branches provide fraud prevention guidance: 33% of customers received fraud prevention guidance during branch visits
- Younger customers benefit from scam support: One-third (33%) of younger customers report receiving scam prevention guidance from branch staff.
- Branches provide financial confidence: 91% say their branch is important to their financial wellbeing, 75% say it makes managing money easier and 93% feel welcome and respected.
- Branches support local communities: 44% say their branch visit is the main reason they go to the high street, 31% would not visit otherwise, and regular visitors3 spend an average of £75 locally during each trip.
- Branches contribute to thriving high streets: 96% say they help keep high streets thriving.
Sarah Harrison, Chief Executive at the Building Societies Association, said:
“Fraud and scams are becoming increasingly sophisticated, and customers are seeing more attempts to trick them into moving money.
“Building societies use a range of channels to help protect customers, including digital tools, telephone support and face-to-face conversations in branches. Each plays an important role in identifying risk, preventing fraud and supporting customers who may need extra help.
“For customers who are less confident online, digitally excluded, or simply looking for extra reassurance, access to support across different channels, including face-to-face remains an important part of keeping money safe.”
