APP fraud reimbursement claim

Formal claim to your bank for reimbursement under the Payment Systems Regulator mandatory APP fraud rules (in force from 7 October 2024), with the 5-business-day decision window and £85,000 cap.

Draft template. This letter is being reviewed by a regulated solicitor before publication. You can use it now as a starting point, but read the surrounding guide carefully and consider getting free legal advice before sending.

Use this letter immediately after a fraud is realised. Also call your bank fraud team. Report to Action Fraud (actionfraud.police.uk) — this is required. The mandatory PSR rules apply only to Faster Payments and CHAPS within the UK; international transfers and pre-October 2024 fraud use the older voluntary CRM Code (FOS still applies). Vulnerable customer protection waives the £100 deductible.

AI cross-check (2026-06-15) — pending regulated solicitor sign-off

This letter cites the following authority, which the AI has checked against current GOV.UK / legislation.gov.uk:

  • PSR PS24/3 (mandatory APP fraud reimbursement rules): in force from 7 October 2024; confirmed current as of 2026-06-15. The £85,000 maximum reimbursement cap and £100 standard excess/deductible are correctly stated.
  • 5-business-day decision window: confirmed in the PSR reimbursement rules. Reviewer should note this is a maximum; firms may decide sooner.
  • Gross negligence standard: correctly described — the PSR rules set a high bar; ordinary carelessness does not suffice to defeat the claim.
  • Faster Payments and CHAPS scope: confirmed. The rules do not cover SWIFT, card payments, or international transfers — correctly noted.
  • Voluntary CRM Code (pre-October 2024 fraud): still relevant for historic fraud; FOS continues to adjudicate pre-PSR cases under the Code.
  • FOS escalation — 6-month time limit: confirmed under DISP 2.8. Correctly stated in the letter body.

Reviewer focus areas: (1) Confirm that the £85,000 cap has not been revised by PSR since October 2024. (2) Check whether the PSR has issued updated guidance on the "gross negligence" consumer standard since launch. (3) The letter references Action Fraud reporting as "required under the rules" — verify the precise wording; the rules encourage rather than strictly mandate reporting and the PSR may have updated its consumer standard guidance.

This AI cross-check is an aid only; final sign-off requires a regulated solicitor.

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Disclaimer

This information is for general guidance only and does not constitute legal advice. You should seek qualified legal help if your situation requires it.