It effectively leaves the door wide open for cybercriminals to withdraw the funds from the new account and make off with the money.
The scam is then complete, leaving unsuspecting Britons devastated and financially compromised.
Adam Speakman, head of fraud and investigations at Metro Bank offered further insight on the matter.
“Remember that new bank accounts can only ever be opened by customer request – we would never open an account on the customer’s behalf on the phone, nor pressure you into doing so.”
As a result, Metro Bank is urging its customers and other Britons to “spot” and then “block” the scam.
Those who receive a call, text, email or any other type of correspondence which asks for payment are told never to engage.
Instead, in the case of phone calls, Britons should hang up and then call their bank back using the number on the back of their bank card.
Any caller who states they have set up a new bank account for a person to move money to is likely to be a scammer.
Most of all, if anyone ever feels threatened or is asked to act urgently, then they should hang up immediately.