#Tsb preston code
#Tsb preston series

#Tsb preston series

TSB is also launching a series of new fraud education workshops which will ensure both customers and non-customers have all the tools and information they need to protect themselves from the latest scams. The fraud guarantee will also cover any new customers joining TSB from 14th April. We may also make adjustments to reflect guidance or requirements from regulators or enforcement authorities. The conditions of this Guarantee may be adjusted in future to guard against abuse or to help us prevent and prosecute fraud. The guarantee covers authorised and unauthorised transactions for claims meeting the criteria for authorised transactions the guarantee is limited to £1 million per claim. TSB will not refund losses for retrospective claims the Fraud Refund Guarantee applies to fraud losses incurred on or after Sunday 14 April 2019. Customers that abuse the Fraud Refund Guarantee, for example by repeatedly ignoring account safety advice, may be excluded from future refunds under the Guarantee. TSB will not repay losses due to fraud committed by an individual on their own account. TSB will still investigate the fraud claim, including what happened and how it happened so the Bank can inform the customer and ensure they’re protected for future fraud. TSB customers will need to contact the bank to report fraud by calling the number on the back of their card or 08. TSB’s Fraud Refund Guarantee will come into effect 14 April 2019 and TSB will be communicating its terms to its customers.ġ TSB customers will be covered for third party fraud loss that occurs on their TSB accountįurther information on the Fraud Refund Guarantee TSB’s partnership with local police forces has resulted in multiple arrests and successful prosecutions.

Pursuing Fraudsters by partnering with local police forces to hunt down the criminals that target consumers. Protecting Customers through multi-million-pound investment in fraud detection measures and Prevention through increased fraud education reaching local communities right across the UK TSB is taking a targeted approach to combat fraud which includes: TSB’s Fraud Refund Guarantee is just one of the many ways the Bank is tackling the issue of fraud head-on. If a TSB customer innocently suffers a fraud loss on their account after being targeted by a criminal, we’ll cover it.” “We want to provide peace of mind to our customers, that’s why we’re proud to announce the TSB Fraud Refund Guarantee. All banks must now follow TSB’s lead and ensure that their own customers are not left paying for the cost of this crime.” “Yet other high street banks are leaving their customers unprotected. Today, TSB has rightly recognised this and stepped-up to take responsibility for refunding its customers across all types of fraud. “We know that banks are far better placed to spot and prevent scams than their customers. Jenny Ross of consumers group Which? welcomed TSB's announcement: “For years, people have lost life-changing sums of money to increasingly sophisticated scams, and then faced a gruelling battle to get their money back. However, all too often these customers must fight to be refunded and are not treated as victims of crime.' TSB’s executive chairman, Richard Meddings says: “The vast majority of fraud claims across UK banking are from innocent victims of fraud, who have been targeted by criminals and organised gangs. Some £354m was lost last year through this type of scam, according to banking trade body UK Finance, but just £83 million was refunded to customers.

#Tsb preston code

While UK banks have signed up to a voluntary code to protect consumers from APP scams - in which customers are tricked into transferring cash to a fraudster's account - none has yet committed to fully reimburse customers who lose money this way. TSB’s announcement marks a significant step-change in banking, where today customers are only refunded for fraud losses in limited circumstances.