Major change to bank rules TODAY for millions of customers including new £100 fee and how to avoid it
NEW rules requiring banks to reimburse people tricked into transferring money to a fraudster have come into force today.
Under the shake-up, banks must reimburse authorised push payment (APP) fraud victims unless the customer has been “grossly negligent”.
AlamyPreviously, many bank customers have relied on a voluntary code to get their money back[/caption]Customers were initially set to receive reimbursements of up to £415,000.
However, the new rules have now implemented a cap of £85,000.
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