Protecting your money against fraud

Protecting your money against fraud

If you’re a victim of fraud, we’re pleased to tell you that it’ll be easier to get your money back. From 7 October 2024, new banking rules come into effect. We’ll refund money lost through APP (Authorised Push Payment) fraud within 5 working days, through a new faster industry-wide process.

We’ll also update our terms and conditions by 9 April 2025 with details of how you’re protected.

What is APP fraud?

APP fraud is when someone is tricked into sending money to someone by bank transfer under false pretences. Bank transfer payments can’t be reversed by the victim. These frauds can be complex and convincing. To learn more about keeping your money safe, visit our fraud page.

What do the new rules cover?

• APP fraud payments made by Faster Payment or CHAPS made on or after 7 October 2024 will be eligible for a refund, subject to some exclusions.
• Refunds will be made within 5 working days, up to a limit of £85,000.
• We may deduct a £100 excess from the refund, unless you’re a vulnerable customer.

How to report

Report an APP fraud by contacting us by email: [email protected] or phone: 01732 441 944.

Important information for making a successful claim

To make a successful claim, report the fraud as soon as possible and provide all the information we need. We may ask you to report the fraud to the police or do that on your behalf.

Each claim is reviewed on a case-by-case basis, and we may not refund all claims.

When might I not be covered?

• If you make a payment from your account to another account in your name.
• Payments made before the 7 October 2024.
• Claims that are made more than 13 months after the fraud took place.
• If you don’t report the fraud to the police or allow us to do so on your behalf.
• If you have acted with gross negligence, such as by ignoring direct warnings from us or another bank or making further payments after reporting the fraud.
• Payments that aren’t made by Faster Payment or CHAPS payment (for example by cheque or direct debit)
• If a claim includes false information or there’s attempted fraud by the sender.
• Payments sent or received by credit unions, municipal banks and national savings banks.

If you have any questions or require any assistance, please contact the Savings team by email: [email protected] or call on 01732 441944 – our phone lines are open from 9am to 5pm on business days. Closed bank holidays.