How much can I get back after a bank transfer scam?
If you were tricked into sending money by UK bank transfer on or after 7 October 2024, your bank must usually refund you up to £85,000 per claim, less an optional excess of up to £100. You need to report it within 13 months. If the bank refuses, the Financial Ombudsman Service can review it for free and award up to £455,000.
How much will my bank refund after a scam?
For authorised push payment (APP) scams paid by Faster Payments or CHAPS on or after 7 October 2024, the Payment Systems Regulator (PSR) rules mean your bank must usually reimburse you up to £85,000 per claim. The bank may deduct an excess of up to £100, but not if you are vulnerable.
When can the bank refuse?
The PSR says you will not get your money back if you were complicit in the fraud or grossly negligent. Gross negligence is a high bar, and the exception does not apply to vulnerable consumers. Payments made by card, cash or cheque, and payments sent abroad, are not covered by these rules.
What if I lost more than £85,000?
The scheme pays up to £85,000, though a bank may choose to pay more. For the balance, complain to the bank and, if you are not satisfied, refer the complaint to the Financial Ombudsman Service. For complaints referred on or after 1 April 2026 the Ombudsman can award up to £455,000.
How long does the bank have to decide?
The PSR says you can expect to be reimbursed within 5 business days of making your claim. If the bank needs more information it can pause the clock, but it must reach an outcome within 35 business days. For complaints about fraud and scams, the Financial Ombudsman says a business has 15 days to respond before you can bring the complaint to it.
Do I have to pay someone to claim?
No. Claiming from your bank is free, and so is the Financial Ombudsman Service, which says you do not need to pay anyone to represent you.
How much can I get back?
Scam Refund · What you can get back
How much can I get back after a bank transfer scam?
What are the limits and time limits?
What does that mean for different losses?
Illustrations only, assuming the bank accepts the claim. They show how the cap and excess work, not what your bank will decide.
When might you get less, or nothing?
- You were complicit in the fraud.
- The bank shows you were grossly negligent. The PSR describes this as a high bar, and it does not apply to vulnerable consumers.
- The payment was not a UK Faster Payments or CHAPS transfer, for example a card payment, cash, cheque or an international transfer.
- The payment was made before 7 October 2024. Older cases can still be complained about, but under the rules that applied at the time.
- You reported it more than 13 months after the payment.
- It was a civil dispute with a genuine seller, not a scam. The PSR notes those are covered by consumer law instead.
Questions people ask
PSR mandatory reimbursement
Escalating to the Ombudsman
Scam refund help compared