{"id":7687,"date":"2026-07-31T09:32:36","date_gmt":"2026-07-31T14:32:36","guid":{"rendered":"https:\/\/stpaulfcu.org\/?post_type=education&p=7687"},"modified":"2026-07-31T09:32:38","modified_gmt":"2026-07-31T14:32:38","slug":"micro-deposit-scams","status":"publish","type":"education","link":"https:\/\/stpaulfcu.org\/education\/micro-deposit-scams\/","title":{"rendered":"Micro-Deposit Scams"},"content":{"rendered":"\n

Micro-deposit scams are especially effective because they often go unnoticed. Too many people have already fallen victim; don\u2019t be one of them! Here\u2019s a comprehensive guide to micro-deposit scams, including how they play out and what you can do if you\u2019re targeted.<\/p>\n\n\n\n

What is a micro-deposit?<\/strong><\/h2>\n\n\n\n

Before we can explore the actual scam, it\u2019s important to understand how a micro-deposit works.<\/p>\n\n\n\n

Micro-deposits are small sums of money transferred online from one financial account to another. They are used legitimately, usually to verify the receiving account is correct. Micro-deposits are generally less than $1 and can be as small as $0.02. They are also typically deposited in pairs (within one to three business days of linking accounts). <\/p>\n\n\n\n

For example, if you\u2019d like to link your checking account with an investment account, the investment brokerage firm will want to verify your dividends go to the correct account. Before sending any of your investment earnings, the firm will do a test run by sending a pair of micro-deposits to your checking account. You\u2019ll be notified that the firm has sent these deposits, and asked to verify the amount of the deposit by logging into your newly linked account. Once you\u2019ve completed this step, the brokerage account will withdraw the small amount of money sent through the micro-deposits and proceed with regular deposits of investment dividends as planned.<\/p>\n\n\n\n

How the scam plays out<\/strong><\/h2>\n\n\n\n

In this scam, crooks link brokerage accounts with strings of random numbers, hoping to hit a valid account. When a deposit is verified from an account, they use additional information about the account holder to withdraw funds from this account as they please.<\/p>\n\n\n\n

What to do if you\u2019re targeted<\/strong><\/h2>\n\n\n\n

Micro-deposits are small enough to fly under the radar, and you may even verify one accidentally. Here\u2019s what to do if you\u2019ve received a micro-deposit from an unknown source:<\/p>\n\n\n\n