Guides › Banking Scams and Fraud › What Is the Bank Transfer Scam Reimbursement Scheme?
What Is the Bank Transfer Scam Reimbursement Scheme?
If you were tricked into making a UK Faster Payments or CHAPS bank transfer (an APP scam) on or after 7 October 2024, your bank should usually reimburse you, up to £85,000. It should pay within 5 business days, or 35 if it needs more information. Report within 13 months.
At a Glance
Your Rights
What the rules say, with a link to the official source for each.
The Short Answer
The Reimbursement Scheme
If you were tricked into making a UK Faster Payments or CHAPS bank transfer (an 'APP scam'), the scheme covers payments made on or after 7 October 2024. It covers individuals, very small businesses and charities. source
Maximum Payout
The maximum reimbursement under the scheme is 85,000 pounds, although a firm may choose to pay more. You must report the fraud within 13 months of the payment, but you should report it as soon as possible. source
How Fast Your Bank Must Pay
Your bank should reimburse you within 5 business days of your claim. It can pause that clock while it gathers information, but it must reach a decision within 35 business days. source
The Excess
A bank may apply an optional excess of up to 100 pounds, or none. It cannot apply the excess to a vulnerable customer. source
When You May Not Be Reimbursed
You may not be reimbursed if you were complicit in the fraud or grossly negligent, which the Payment Systems Regulator says is a high bar. The gross negligence exception does not apply to vulnerable customers. source
Time Limits to Know
Miss a deadline and you can lose a right. Check the dates on your own paperwork.
- 5 business daysBank transfer scam reimbursementWithin 5 business days of your claim, up to 35 business days if the bank needs more information
- £85,000Maximum bank transfer scam reimbursement85,000 pounds, for payments from 7 October 2024
Steps to Take
Step 1 of 4
Tell your bank straight away.
Step 2 of 4
Ask it to reimburse you under the scheme.
Step 3 of 4
Report to Report Fraud.
Step 4 of 4
If refused, complain, then go to the Financial Ombudsman.
(Tap the numbers to reveal steps)
Where to Go If It Is Not Put Right
Your options, in order, and when each one applies.
Your Bank's Complaints Team
Always start here, in writing, once your bank has refused or not replied.
Financial Ombudsman Service
You are unhappy with your bank's final response. It is free, and its limit is 430,000 pounds.
Report Fraud (Police)
Report any scam. Your bank may also ask you to report it.
Want Help?
If you would like one of our team to look at your problem, our initial case review is free. We cannot guarantee any outcome and we do not give legal advice.
Lead reviewer
Luke Marley
Founder and Lead Reviewer
Luke founded CPUK in 2026 after seeing how hard it is for ordinary people to get problems with companies put right. He oversees our guides and checks them against official sources.
Research by Katie Burt, Co-founder and Operations Lead (17 years in the care sector, including managing services for vulnerable adults), and the CPUK Research Team. Researched with AI-assisted research tools, then checked and corrected by our team.
Last checked: 13 October 2026. We are not paid by the companies we write about. Adverts never affect our guidance. Read our editorial policy.
Sources and official links
- psr.org.uk/information-for-consumers/app-fraud-reimbursement-protections Checked 13 October 2026
- reportfraud.police.uk Checked 12 October 2026