Authorised Push Payment (APP) reimbursement policy

Financial protection is an important right, one we should all have, and the implementation of the Authorised Push Payment (APP) scam reimbursement policy aims to protect victims who have suffered financial loss and once implemented, can expect their bank to act in a consistent manner.

We have been directed by the Payment Systems Regulator (PSR) to implement the APP reimbursement policy which addresses APP fraud within the Faster Payment System (FPS). In-scope Payment Service Providers (PSPs) will be required to reimburse victims within five working days, and receiving PSPs will be required to share the cost of the fraud loss with the sending PSP.