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17-03-2022
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17-03-2022Exchange Rate
GBP/INR 97.60 less than £250
98.90 £250 to £1999 99.00 £2000 to £4999 99.05 £5000 to £9999
USD/INR 75.62 Up to $2000
DetailedExchange rate
Home>Customer information’s
Information on Authorised Push Payment (APP) scams.

Dear Valued Customer,

 

We are pleased to inform you about an important enhancement to your financial security. From October 7, 2024, you will benefit from new protections against Authorised Push Payment (APP) scams, as part of the Payment Systems Regulator's Specific Direction 20 (SD20).

 

An APP scam occurs when an individual is misled into authorising a payment to an account controlled by a fraudster. With the implementation of SD20, we are now better equipped to support you in the unfortunate event that you become a victim of such a scam.

 

We would like to kindly draw your attention to the key aspects of this new protection:

  • Eligible customers include individuals, microenterprises, and charities[1].
  • The scam payment must be made using Faster Payments Scheme or CHAPS in the UK to a UK account.
  • You must report the scam within 13 months on or after October 7, 2024 of the final payment to the fraudster.
  • The maximum claim limit is £85,000 to an APP scam.
  • We may apply an excess of up to £100 (this doesn't apply to vulnerable customers).

[1] Micro-enterprises: enterprises which employ fewer than 10 people and whose annual turnover and/or annual balance sheet total does not exceed 2 million euros and charities with an annual income of less than £1million

 

For your information, please note that the reimbursement does not apply to:

  • Payments made before October 7, 2024
  • International payments
  • First-party fraud or gross negligence
  • Payments using other systems (e.g., cheques, cash, credit, debit or prepaid card)
  • Unauthorised payments or civil disputes
  • Payments are sent or received by credit union, municipal bank and national savings banks

To protect yourself from APP scams, we recommend the following:

  • Always be cautious when making payments, especially to new recipients.
  • Pay attention to any warnings or interventions we provide during the payment process.
  • If you suspect you've fallen victim to a scam, report it to us immediately.
  • Be prepared to provide information to support your claim if needed.
  • Report the incident to the police if required (we can help with this).

If you believe you've been a victim of an APP scam, please contact us as soon as possible through our customer support team at or by calling our hotline +44 20 7332 4250.

 

We assure you that we will assess your claim and keep you informed throughout the process. If you are not satisfied with the outcome, please know that you can use our complaints process and, if necessary, escalate to the Financial Ombudsman Service.

 

We remain committed to safeguarding your financial interests. Should you have any questions about these new protections, please do not hesitate to contact our customer service team. We would be more than happy to assist you.

 

Best regards,

Union Bank of India (UK) Ltd

Email:

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