Will my bank refund me if I was scammed into a transfer?

In most cases now, yes. Since 7 October 2024 the Payment Systems Regulator runs a mandatory reimbursement scheme: if you were tricked into authorising a bank transfer (Faster Payments or CHAPS) to a fraudster, your bank or payment firm must reimburse you — up to a maximum of £85,000 per claim, usually within 5 business days. They can pause for up to 35 business days to investigate. A bank can only decline or reduce a claim if it can prove you acted with gross negligence (the consumer standard of caution) — and that exception cannot be applied to vulnerable customers at all.

How much can I get back after an APP scam?

Up to £85,000 per claim under the PSR mandatory reimbursement scheme. The cost is split 50/50 between the bank that sent the money and the bank that received it. Your bank may apply an optional excess of up to £100 per claim — but that excess cannot be charged to vulnerable customers. If you lost more than £85,000, you can take the rest to the Financial Ombudsman Service, whose award limit is much higher.

How long do I have to report a bank scam?

Report it to your bank as soon as you realise or suspect a scam — and in any event within 13 months of the last payment you authorised. Tell the bank first (they can sometimes recall money fast), and report to Action Fraud on 0300 123 2040 (or 101 in Scotland). If the bank refuses or you are unhappy with the outcome, you can escalate free to the Financial Ombudsman Service within 6 months of the bank's final response.

What if I paid by card, not bank transfer?

The PSR reimbursement scheme covers bank transfers you authorised (Faster Payments and CHAPS). If you paid by debit or credit card, the money-back route is different: chargeback (card scheme rules) or Section 75 (Consumer Credit Act 1974, for credit card purchases over £100). If a payment left your account that you did NOT authorise at all, that is an even stronger right under the Payment Services Regulations — your bank must normally refund unauthorised transactions.

Scammed into a transfer? Your bank must refund

Q: Can the bank refuse to refund me?

Only in limited cases. The bank can decline or reduce reimbursement if it can prove you failed the consumer standard of caution through gross negligence — a significant degree of carelessness, a higher bar than ordinary negligence, and the burden of proof is on the bank, not you. This exception does not apply to vulnerable customers. First-party fraud (the customer being complicit) is also excluded. If you think a refusal is wrong, push back and escalate free to the Financial Ombudsman Service.

The first hour matters — do this now

An authorised push payment (APP) scam is where you were tricked into authorising a bank transfer yourself — a fake “safe account” call from your “bank”, a purchase that never arrived, a fake invoice, a romance or investment con. Because you pressed send, it used to be treated as your mistake. Not any more — but speed still protects you.

Call your bank’s fraud line immediately. Fast contact sometimes lets them recall the money before it moves on. Ask them to raise an APP scam reimbursement claim.
Report to Action Fraud on 0300 123 2040 (or call 101 in Scotland, where Police Scotland handles fraud). Keep the crime reference number.
Save your evidence: screenshots, texts, emails, the website, the account number you paid, bank statements, and a short timeline of what happened.

The big change since October 2024 The Payment Systems Regulator now requires banks and payment firms to reimburse most APP scam victims for transfers sent over Faster Payments or CHAPS. You no longer have to argue that the bank was at fault — reimbursement is the default, and the bank has to prove a reason not to pay.

What the scheme pays — and how fast

These are the rules in force under the PSR mandatory reimbursement requirement:

What	The rule
How much	Up to £85,000 per claim
How fast	Usually within 5 business days — the bank can pause up to 35 business days to investigate
Who pays	Cost split 50/50 between your bank (sending) and the fraudster’s bank (receiving)
What’s covered	Bank transfers you authorised over Faster Payments or CHAPS, on or after 7 Oct 2024
Time limit	Report within 13 months of the last payment you authorised
Possible excess	Your bank may apply an optional excess of up to £100 per claim — but never to a vulnerable customer

The regulator says the scheme means the large majority of Faster Payments scam claims are reimbursed in full. Some firms waive the excess entirely. If you lost more than £85,000, you can still pursue the rest — see the escalation route below.

Bank transfer vs card payment This scheme is for money you sent by bank transfer. If you paid a scammer by debit or credit card, the money-back route is different — chargeback, or Section 75 for credit-card purchases over £100 (see our Section 75 & chargeback guide). And if a payment left your account that you did not authorise at all, that is an even stronger right under the Payment Services Regulations — your bank must normally refund unauthorised transactions straight away.

When a bank says no — and how to fight it

A bank can only decline or reduce your claim in limited situations. The main one is the consumer standard of caution: the bank must prove you acted with gross negligence — a significant degree of carelessness, a higher bar than ordinary negligence, and the burden of proof is on the bank, not you. Crucially:

The gross-negligence exception does not apply to vulnerable customers — at all. If you were vulnerable at the time (through health, a life event, low resilience or capability), the bank must reimburse.
The excess cannot be charged to vulnerable customers either.
Ignoring a clear, specific scam warning from the bank, or failing to report promptly, can affect a claim — but the bank still has to show that, not just assert it.

Get the refusal in writing with the reason. If it relies on “gross negligence”, ask exactly what they say you did and why it meets that high bar.
Complain formally to the bank — our complaints guide walks the ladder. Push back on a weak refusal.
Escalate free to the Financial Ombudsman Service within 6 months of the bank’s final response. The Ombudsman is free, independent and binding on the firm, and its award limit is far above £85,000 — useful for larger losses.

Never pay a “fund recovery” firm Reporting a scam and claiming reimbursement is free — a phone call to your bank, Action Fraud, and the Ombudsman. Any company that contacts you offering to “recover your lost money” for a fee is almost always a second scam targeting people who’ve already been hit. Genuine help never asks for an upfront payment, your card details or remote access. Check anything suspicious with our scam checker.

Do this now

Lost money to a transfer scam? Phone your bank’s fraud line first — minutes can matter for recalling funds — then report to Action Fraud on 0300 123 2040 (101 in Scotland) and keep the reference.

Already been refused? Don’t accept it. Put your complaint in writing, then take it free to the Financial Ombudsman Service within 6 months. If you’re feeling overwhelmed, free help is at Citizens Advice 0808 223 1133.

UK-wide — with one note The PSR reimbursement scheme covers payments made through UK Faster Payments and CHAPS, so it applies across the UK. Report fraud to Action Fraud (0300 123 2040) in England, Wales and Northern Ireland, or call 101 in Scotland, where Police Scotland is the route.

✓ Source verification

Primary sourcePayment Systems Regulator — APP scams mandatory reimbursement requirement (in force 7 Oct 2024; PS24/7 maximum reimbursement, consumer standard of caution guidance); Financial Ombudsman Service (escalation route)

Specific URLpsr.org.uk — APP fraud reimbursement protections

Last verified13 June 2026

ConfidenceHigh — scheme rules confirmed against the PSR and FOS this session. The optional excess up to £100 is firm-by-firm (many waive it) and never applies to vulnerable customers — treat as qualitative. The £85,000 cap is the figure confirmed in PS24/7.

Key factsStarted 7 Oct 2024 · up to £85,000 per claim · usually decided in 5 business days (pause up to 35) · cost split 50/50 sending/receiving bank · Faster Payments + CHAPS transfers · report within 13 months · gross-negligence (consumer standard of caution) the only main refusal, burden on the bank, never applied to vulnerable customers · optional excess up to £100 (not for vulnerable customers) · FOS escalation within 6 months of final response, free, binding

ScopeUK-wide (UK Faster Payments / CHAPS). Card payments use chargeback / Section 75 instead; unauthorised transactions are a separate, stronger right. Not legal or financial advice.

Bank scam refunds — common questions

Will my bank refund a scam transfer?

In most cases now, yes. Since 7 October 2024 banks and payment firms must reimburse most victims of authorised push payment (APP) scams — up to £85,000 per claim, usually within 5 business days. They can only decline or reduce it if they can prove you were grossly negligent, and that exception can never be used against a vulnerable customer.

How much can I get back?

Up to £85,000 per claim under the PSR scheme, with the cost split 50/50 between the sending and receiving bank. Your bank may apply an optional excess of up to £100 (but not to vulnerable customers). Lost more than £85,000? Take the rest to the Financial Ombudsman Service, whose award limit is much higher.

How long do I have to report it?

Report it to your bank as soon as you realise, and in any event within 13 months of the last payment. Also report to Action Fraud on 0300 123 2040 (101 in Scotland). If you’re unhappy with the bank’s answer, escalate free to the Financial Ombudsman within 6 months of the final response.

What if I paid by card, not transfer?

The PSR scheme covers bank transfers. If you paid by card, use chargeback or Section 75 (for credit-card purchases over £100) instead — see our Section 75 guide. If a payment left your account that you never authorised, your bank must normally refund that as an unauthorised transaction.

Can the bank refuse to pay me?

Only in limited cases — mainly if it can prove gross negligence (a significant degree of carelessness, with the burden of proof on the bank). That exception does not apply to vulnerable customers. If you think a refusal is wrong, complain in writing and escalate free to the Financial Ombudsman Service. Never pay a “recovery” firm to do this for you.

Sources Mandatory reimbursement scheme, £85,000 maximum, 5-business-day decision, 50/50 cost split, 13-month report window, consumer standard of caution and vulnerable-customer protections · Payment Systems Regulator — APP fraud reimbursement protections and PSR PS24/7 maximum level of reimbursement (read this session). Escalation, award limit and complaint route · Financial Ombudsman Service. Reporting fraud · Action Fraud 0300 123 2040 (101 in Scotland). SortedUK is not a bank, solicitor or regulated financial adviser and this is general information — for free, independent help contact Citizens Advice (0808 223 1133). Last reviewed: 13 June 2026.

Tricked into a bank transfer? Your bank now must usually refund you.

The first hour matters — do this now

What the scheme pays — and how fast

When a bank says no — and how to fight it

Bank scam refunds — common questions

One scan. Every UK money route you may be owed.