What do the PSR APPF Reimbursement regulations mean for me?

If you’re a victim of APP fraud, the new regulations will allow you to make a claim for your lost money. 

To do this, there are certain conditions you need to meet, called the ‘Consumer Standard of Caution’.

The regulations only apply to:

• Finances lost by either an individual or a small business with a turnover of less than – or an annual balance sheet total that doesn’t exceed – €2 million a year and with fewer than 10 employees

• Fraudulent payments made on or after 7 October that have been sent by bank transfer from one UK bank account to another by Faster Payments (a quick way of sending money between bank accounts) or CHAPS

To make a claim, contact our Fraud Rapid Response team by calling 159, or tap the 'Support' icon in the top-right of your app > Report Fraud in your Tide app – our team is available 24/7 to chat with you.

Do this as soon as you suspect you’ve made a fraudulent payment, and no later than 13 months after the last payment was made. If you do so later than this date, you’ll no longer be able to claim reimbursement.

Please note, only transfers amounting to £85,000 or less are eligible for reimbursement – so if you lost £100,000 to an APP scam and had a successful claim, a maximum of £85,000 could be reimbursed, minus a £100 excess fee.