APP Customer Communications
At Zenith Bank (UK) Limited, your financial security is our top priority. Therefore, we would like to inform you about the new regulation designed to ensure you are not left out of pocket. Here’s what you need to know:
What’s Changed?
October 7, 2024, new regulations was put in place to protect UK account holders from Authorised Push Payment (APP) scams.
What is an Authorised Push Payment? Authorised Push Payment (APP) also known as bank transfer fraud is a type of transaction where the payer actively instructs their bank to send money to another account, typically via Faster Payments or CHAPS. Unlike direct debits or standing orders, the payer controls the payment, not the recipient.
APPs are commonly used for online shopping, bill payments, and transferring money to friends or family. To initiate one, the payer provides their bank with the recipient’s account number and sort code. The bank then processes the transfer directly.
This method offers convenience and control but carries a risk of fraud. Always verify the recipient’s details to avoid scams.
What is APP Fraud?
APP fraud occurs when criminals deceive or persuade you into transferring money to another account, ultimately stealing your funds.
Here are some examples of typical APP scams:
1. Law Enforcement/Organization Scam: Someone calls pretending to be from the law enforcement agencies (e.g.: Police), an organization, your bank, or tax office. They say there’s a problem and ask you to send money to fix it.
2. Release Fee Scam: In this scam, you are tricked into paying a fee to unlock a larger payment or valuable items that never actually come.
3. Bill Payment Scam: This happens when you try to pay a real bill (e.g.: gas bill, electric bill), but a scammer tricks you into sending the money to their account instead, pretending to be a lawyer or supplier.
4. Impersonation Scam – Family or Friends: The scammer pretends to be someone you know, like a family member or friend, and asks you for money through social media or text messages.
5. Romance Scam: Scammers create fake profiles on dating sites to build a relationship with you and eventually ask for money for various reasons.
6. Investment Scam: A scammer tries to get you to invest in a fake fund or investment, promising you will make a lot of money.
7. Purchase Scam: You pay for something online, like a product or service, but it never arrives.
you and eventually ask for money for various reasons.
Who’s Eligible?
UK account holders who can demonstrate that they did not act fraudulently or with gross negligence during the payment or transfer process will be eligible for protection.
What Can I Claim?
Transactions made on or after October 7, 2024, may qualify for a refund of up to £85,000. Please note that a £100 excess applies to most claims.
What won’t be covered?
- The payment went to another account you own;
- The payment involved an account outside the UK;
- We haven’t received the info needed to assess your claim;
- You didn’t authorise the payment (different rules apply);
- It’s a civil dispute with the recipient;
- You were extremely careless when making the payment;
- We reasonably suspect fraud on your part;
- You didn’t report the suspected scam promptly;
- Over 13 months have passed since the last APP scam payment
How Do I Raise a Claim?
If you need to raise a claim, please reach out to your Relationship Manager, or feel free to call our Customer Services team on 0207 105 3950. Keep in mind that not all transactions will be eligible for a refund, so don’t hesitate to contact us for more information on eligibility and claims.
Thank you for choosing Zenith Bank. We’re here to help you navigate these changes and ensure your financial safety.
Zenith Bank (UK) Limited
