Scam refund claims

Some victims of bank transfer scams will not get a penny back despite beefed-up rules designed to better protect consumers from fraudsters because several big banks have introduced an excess on refund claims.

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New rules requiring banks and other payment firms to reimburse people who have been tricked into sending money to scammers took effect last month, and included an optional £100 excess that firms can apply to a claim.

The rules apply to payments made on or after 7 October, and mean that if you are scammed out of £90 through no fault of your own, you could still end up emptyhanded, and if you lose £300, you may only get £200 back. However, the excess cannot be applied to "vulnerable" consumers.