Depending on the way that you were asked to send payments, you may be entitled to reimbursement from your bank. This may be under the Contingent Reimbursement Model (CRM)-for payments on or after 28th May 2019 but before 7th October 2024, or the new Payment Systems Regulator’s (PSR) mandatory reimbursement schemes-from 7th October 2024.
If your bank refuses to reimburse certain payments, it is still worth filing a complaint with the Financial Ombudsman Services, as they still expect for banks to act responsibly towards their customers. You may have a case.
With the CRM, the bank has 15 days to respond with acknowledgement of the complaint and 35 working days to investigate and come back to you with a response. If they go over this time frame, you are within your rights to move the complaint to the Financial Ombudsman without a final response.
Under the PSR, the complaint must be acknowledged and resolved within 5 business days, unless a pause is requested (up to 35 days). View here
If you would like to make a claim yourself, we have some letter templates that may help you to structure your claim.
If you need support in putting a claim together for your case, we can help with this too. We will put your case together for you to send to your bank’s fraud department.
Getting an email or address for this can be quite tricky, so try to ask for one when you initially report the fraud. If the final response is not what was hoped for, we can help you progress this for the Financial Ombudsman.