Nope, they can charge an excess, and there is a cap.
> any payments consumers claim are scam
Nope, only actual scams. The consumers have to provide all suitable details and help the bank report the scam to the police if appropriate. They can't just say "I was scammed", provide no other details, and expect a refund.
> Banks will be required to refund most victims of bank transfer scams – known as "authorised push payment (APP)" fraud – from 7 October 2024, under new rules confirmed today (Tuesday 19 December). But you'll still need to be cautious when making a payment, as banks will be able to refuse refunds where you haven't been "sufficiently careful" – and they can charge an excess on claims.
> You WON'T be eligible for a refund if your bank decides you were "grossly negligent". According to the regulator, this is a "very high bar" and involves acting with a "significant degree of carelessness". So you'll still need to take care when making payments.
> Vulnerable customers will get extra protections. This is defined as "someone who, due to their personal circumstances, is especially susceptible to harm – particularly when a firm is not acting with appropriate levels of care". Banks will have to assess this on a case-by-case basis, taking into account all the facts around any claim.
Nope, not "any", but "Most".
> blank refund
Nope, they can charge an excess, and there is a cap.
> any payments consumers claim are scam
Nope, only actual scams. The consumers have to provide all suitable details and help the bank report the scam to the police if appropriate. They can't just say "I was scammed", provide no other details, and expect a refund.
Here's a source that's not behind a paywall:
https://www.moneysavingexpert.com/news/2023/12/banks-scam-fr...
> Banks will be required to refund most victims of bank transfer scams – known as "authorised push payment (APP)" fraud – from 7 October 2024, under new rules confirmed today (Tuesday 19 December). But you'll still need to be cautious when making a payment, as banks will be able to refuse refunds where you haven't been "sufficiently careful" – and they can charge an excess on claims.
> You WON'T be eligible for a refund if your bank decides you were "grossly negligent". According to the regulator, this is a "very high bar" and involves acting with a "significant degree of carelessness". So you'll still need to take care when making payments.
> Vulnerable customers will get extra protections. This is defined as "someone who, due to their personal circumstances, is especially susceptible to harm – particularly when a firm is not acting with appropriate levels of care". Banks will have to assess this on a case-by-case basis, taking into account all the facts around any claim.