APP fraud reimbursement: how UK victims of bank transfer scams get money back
By SendPay Business · · 2 min read
Since 7 October 2024, UK payment firms have had to reimburse most victims of authorised push payment (APP) scams. These are scams where someone is tricked into sending money by bank transfer. The rules were set by the Payment Systems Regulator.
What's covered
- Payments made by Faster Payments or CHAPS between UK accounts.
- Claims up to £85,000 per claim.
- Claims made within 13 months of the last scam payment.
- The sending and receiving firms split the cost 50:50.
What's not covered
Payments to your own accounts, international transfers, card payments and civil disputes, such as a genuine seller who delivered poor goods, fall outside the rules. Firms can also refuse a claim if the customer was grossly negligent or took part in the fraud.
The excess
Firms may deduct an excess of up to £100 from a claim, though some choose not to, and vulnerable customers are exempt.
Where SendPay fits
SendPay platforms give your customers GBP, EUR and USD accounts and transfers under your own brand, powered by licensed partners.
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This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.