Authorised Push Payment (APP) reimbursement

An Authorised Push Payment (‘APP’) fraud / scam happens when you willingly, make money transfers to a fraudster/s who deceived you by posing as a genuine person or business. It can be a consequence of different types of fraud, such as investment fraud, romance scam, email compromise, holiday scam, help a friend or family member scam, or someone posing to be from your bank or another trusted organisation.

Please refer to the Security Zone area to read more on the different fraud/ scam typologies.

Under the APP Scam reimbursement scheme eligible payments which have resulted in you becoming a victim of an Authorised Push Payment (‘APP’) scam will be assessed for reimbursement, provided you have done everything expected of you under the scheme. There are exclusions which would make a payment ineligible, these have been outlined below.

The APP Scam Reimbursement applies to:

· Individuals ‘Personal customers’

· Charities (with an annual income of less than £1 million)

· Micro-enterprises (an enterprise which employs fewer than 10 people and whose annual turnover and annual balance sheet total does not exceed EUR 2 million)

· Claims raised for Faster payments or CHAPs payments made after the 7th of October 2024.

· The claim relates to an in-scope payment made within the last 13 months.

· Claims up to a maximum of £415,000*.

* Subject to regulatory change which we will update here

The APP Scam Reimbursement does not cover:

· Payments completed before the 7th of October 2024.

· Unauthorised payments - This is where you have not authorised or consented to the payment.

· Commercial /Civil disputes e.g. where you have paid a legitimate supplier for goods, services or digital content but have not received them, or they are in some way defective.

· International Payments - Only GBP UK payments made via Faster Payment (Bill Payment) or CHAPs are covered. · Clients who have been grossly negligent when making their payments. For more information, please see standards of caution and gross negligence.

· Clients who have been grossly negligent when making their payments. For more information, please see standards of caution and gross negligence.

· Claims made for reimbursement, for example, where you have made and received the payment.

Limits and Excess:

· Each claim has a limit of up to £415,000*.

· Each claim following an investigation and review will be assessed as to whether a £100 excess charge is to be applied.

For further details on of the relevant timescales and the reimbursement scheme please refer to www.wearepay.uk

Here are some of the things we already do to protect you against scams:

· In our online banking and mobile app there are now warnings & advice when you pay money to a new beneficiary/recipient.

· Additional Checks - In higher risk circumstances we may perform additional checks on payments that you request and may get in touch to check details.

· Education - We educate you through regular fraud awareness communications via social Media platforms and via email.

· Confirmation of Payee – is a service that validates UK sort code and bank account information of a payee before sending payments. It serves as an extra layer of protection for payments and helps prevent payments from being sent to unverified payee accounts. This process reduces the risk of sending payments to the wrong account holder.

· Customer Support - Our colleagues are available to support in verifying payments which customers believe to be genuine but may be a scam.

· Find out more on our approach to fraud on our Security Zone page.

We have a lot of advice on our website to help you understand common fraud / scam types and what to look out for. Scammers are always changing tactics, so it's important to stay up to date with these.

Visit our Security Zone homepage for more advice on how to stay safe and secure.

If you believe you've been the victim of a scam, or you're in contact with someone you think is trying to scam you, please contact us immediately.

Eligible customers are still expected to be cautious when making their payments. This includes the following:

· Paying attention to warnings that have been provided by Moneycorp or national bodies (such as the National Crime Agency [NCA], Financial Conduct Authority [FCA] or Action Fraud)

· Once you have been made aware or suspect you have been a victim of a scam, contact us as soon as possible.

· Help us to investigate your claim by providing any information that you have regarding the payment and the suspected scam.

· Either report the scam to the relevant body yourself or allow us to do so on your behalf, providing us with the details of your report (in the UK the relevant local bodies are your local Police and Action Fraud).

Customers who have not followed the above steps when making their claim may be deemed to have acted grossly negligently.

Please note: We may reject your claim if we believe your actions have been grossly negligent.

If you believe you've been the victim of a scam, or you're in contact with someone you think is trying to scam you, please contact us immediately.