Anyone who receives a call or message from somebody claiming to be from a trusted organisation and who suggests money should be transferred is being urged to hang up and call 159.
The criminal persuaded Mr Bale that funds needed to be transferred to a "safe account", so he allowed payments totalling nearly £6,000 to be made.
"I felt humiliated and very foolish, but they were very convincing. Everyone is gullible when you are caught on the hop," he said.
Banks that are taking part include Barclays, Lloyds (including Halifax and Bank of Scotland), NatWest (including Royal Bank of Scotland and Ulster Bank), Santander and Starling Bank.
More than 80% of UK mobiles and landlines will be able to use 159 at the outset, costing the same as a national rate call. There is also an accompanying website.
Ruth Evans, who chairs Stop Scams UK, said: "Criminals rely on forcing people into heat-of-the-moment decisions, and calling 159 is a simple, practical tool to break their spell."