We have been made aware of a fraudulent Modere My Pay scheme. The scheme hackers use to steal money from My Pay is by gaining access to an unsuspecting user’s email account, then requesting to change the password in the My Pay login and using the access to the email to change the password. This gains them access to the My Pay account where they transfer any available funds.
To help keep your account secure, we recommend these best practices:
- Transfer your current My Pay Balance to a secured bank account. Before transferring funds, please confirm the account number you are transferring your My Pay funds to. For information on how to transfer funds, see below.
- For future deposits, setup funds to be automatically transferred from My Pay, to your FDIC insured bank account. This option is available in the My Pay platform. See below for more information.
- Reset the password to the email address that you have on your My Pay account. Create passwords on email accounts and other sensitive accounts that are difficult to breech. A strong password is: At least 12 characters long but 14 or more is better. A combination of uppercase letters, lowercase letters, numbers, and symbols. Not a word that can be found in a dictionary or the name of a person, character, product, or organization.
How to transfer your My Pay funds to your FDIC insured bank account
- Log in to your My Pay account
- Add your bank account by clicking on Transfer in top navigation. On the Add Transfer Method page, select “Transfer To Bank Account”. Follow the instructions to establish secure link with your FDIC insured bank account.
- Once your bank account is added, you will see the following screen. Click on the “Action” button.
- You will see the following screen after clicking on the action button. Click on “Transfer to Bank Account” to transfer your funds to the account added. You can also choose to setup Auto Transfer to any Venmo, PayPal or another bank account you setup.
The My Pay platform is secure and we have not found any evidence of the My Pay platform being breeched directly. We appreciate your support and diligence in keeping your account secure.