You paid. The invoice, the investment, the "safe account" - it was a scam, and the money left your bank in seconds. The first question every victim asks is the same one: will my bank give my money back? In 2026 the honest answer is better than most people fear - but it depends on things you can still control in the first few hours.
The 2026 numbers: refunds are now the norm, not the exception
UK Finance's Annual Fraud Report 2026 records £576.4 million lost to authorised push payment (APP) fraud in 2025 - up 19% year on year - of which £500.8 million was taken from individuals. Investment fraud alone reached £221.5 million, a 40% jump.
But the same report shows banks reimbursed £354.3 million to APP-fraud victims in 2025 - roughly 61% of all losses. The Payment Systems Regulator separately reported that 89% of in-scope claims were refunded in the first 15 months of the new rules.
Translation: a large share of scam victims now get their money back from their bank. This guide is about making sure you are one of them.
What the law now requires (since 7 October 2024)
On 7 October 2024 the PSR's mandatory reimbursement requirement came into force. Where you were tricked into sending a payment through Faster Payments or CHAPS, your bank must reimburse you unless it can prove one of a narrow set of exceptions. The core entitlements:
- A standard maximum of £85,000 per claim - and many of the biggest banks voluntarily waive that cap, so check yours.
- A £100 excess on consumer claims, which must be waived if you were vulnerable.
- Claims normally raised within 13 months of the payment (longer where a customer was vulnerable).
- A decision within about 15 business days, after which the bank must usually make an interim payment (broadly £1,000) if it has not finished investigating.
The one word that decides your claim: gross negligence
Your bank can refuse mainly if it can show you were grossly negligent - you ignored obvious warnings in a way no reasonable person would - or that you were party to the fraud. This is where most refused claims are won or lost.
Gross negligence is judged against your circumstances: your age, health and vulnerability, how long the scammer groomed you, and whether the bank followed its own rules - including Confirmation of Payee name-checking and in-payment scam warnings. Keep any evidence that a warning was skipped, a name-check should have mismatched, or you were manipulated over weeks. Romance and investment scams are engineered to do exactly that, and the rules say a bank cannot simply blame you for falling for a well-run con.
How to claim, step by step
- Call your bank's fraud line the same day. Ask them to recall the payment and request a stop or kill-code on any funds still sitting in the receiving account. Speed protects the refund.
- Say clearly that you want an APP scam reimbursement claim under the PSR rules - do not let it be logged only as a general complaint.
- Put everything in writing: dates, amounts, the payment rail used, and the chats, receipts and screenshots that prove you were deceived.
- Report to Action Fraud at reportfraud.police.uk and keep your crime reference number - banks and the Ombudsman will ask for it.
- If your bank refuses or under-pays, escalate to the Financial Ombudsman Service within six months of its final response. The Ombudsman can order your bank to pay more than the £85,000 mandatory cap.
Why claims get refused - and how to fight back
- "You were grossly negligent." Answer with your timeline and any control the bank failed to run. A missed name-check or absent scam warning is your strongest counter.
- Vulnerability ignored. If age, health, bereavement or months of grooming clouded your judgement, say so and provide evidence - it can waive the £100 excess and change the outcome.
- "That rail is not covered." Card payments use chargebacks and direct debits rely on the Direct Debit Guarantee - separate rights, still worth claiming in parallel.
- "You were a business." Larger firms cannot always use the mandatory scheme, but contractual claims, the Ombudsman and court freezing orders remain available.
When your money is not a bank claim
A bank refund can only reach money still recoverable through the payment rails. If you paid crypto to a wallet or wired money abroad, the fight shifts to blockchain tracing, exchange freezes and civil recovery - a different clock entirely, where the first 24 to 72 hours decide most outcomes. Our guide to reporting fraud in the UK sets out the order of play, and this evidence checklist tells you exactly what to preserve before you contact anyone.
The honest limits
No one - not your bank, not us - can promise a refund. Reimbursement is a legal process with real consumer protections, but the outcome turns on the rail, the timing and your evidence. And because a successful claim marks you as a known victim, be ready for the follow-up recovery scam that offers to "secure your bank refund" for an upfront fee. Genuine claims never cost money to start.
This is general information about the PSR reimbursement rules and 2026 fraud data, not legal or financial advice. Rules and individual bank policies change; confirm the current position with your bank, the PSR and, for larger sums, a solicitor.
Not sure whether your payment is covered, or your bank has already said no? Send us the details - a senior investigator will assess your case free of charge and tell you honestly which route gives you the best chance of getting your money back.
