Authorised Push Payment (APP) scams: What you need to know.
From 7 October 2024 new rules from the Payment Services Regulator (PSR), mean members who fall victim to an APP scam will have their money refunded in full (up to a max limit of £85,000).
This webpage includes everything you need to know.
APP Scams
What is an APP scam?
An APP scam is when you’re tricked into sending money to someone claiming to be someone they aren’t, or for a reason you didn’t intend.
For example, someone might pretend to be from a trusted organisation like your bank and ask you to transfer money to them.
Scammers often claim the payment needs to be made quickly, to try and panic you into paying. You might be contacted by phone, email or via social media, so ensure you stay calm and be aware at all times.
APP Scams
How can we help you if you fall victim to APP scams?
The Society has signed up to new rules to ensure members who fall victim to an APP scam will have their money refunded in full (up to a max limit of £85,000).
This covers any payments made using bank transfers in the UK. In most cases we will aim to refund you within 5 business days. However, in some cases we may require extra information and any refund due may take up to 35 business days.
If you think you may have fallen victim to an APP scam, please speak to a member of branch staff immediately or contact our Member Support Centre on 0330 123 0723.
APP Scams
What’s not covered under the new APP scam rules?
- Payments made using cash or cheque.
- Where you have a genuine disagreement with the person or company you’re paying. For example, you are not satisfied with the product or service you received.
- Payments made before 7 October 2024.
- Payments made more than 13 months before you reported it.
- Payments made to another account you control.
- International payments.
- Where you have acted fraudulently yourself – including if you have lied or misrepresented your circumstances for financial gain.
- Where you have acted grossly negligently and failed to exercise a suitable “consumer standard of caution” when making the payment.
APP Scams
What you can do to help protect yourself
Under the new rules, you’re expected to take certain steps before and after making a payment to try and stay safe. You must:
- Follow any specific warnings given by us or the police that suggest you could be at risk of being a victim of a scam.
- Contact us as soon as possible if you think you’ve been a victim of a scam.
- Provide us with any information we ask for to help us assess your claim.
- Report the scam to the police yourself or allow us to report it on your behalf.
Head over to our Stay Safe Online webpage for further support and resources on how you can stay safe online.