Payments you didn't make
If money left your account without your permission, many countries require the bank to refund it promptly, unless it can show you acted with gross negligence or fraudulently. Report it as soon as you notice.
Your rights to a refund
Which rules can help you depends on how you paid, when, and where your bank is. Here is how it works, using the UK as the worked example.
Which rules might cover me?
UK example. General information, not legal advice.
Mandatory reimbursement
You are likely covered by the UK reimbursement rules
For bank transfers made by Faster Payments or CHAPS on or after 7 October 2024, banks must reimburse most victims of authorised push payment fraud, up to £85,000 per claim.
- Report it within 13 months of the last payment.
- The bank can deduct an excess of up to £100, but not for vulnerable customers.
- The main exception is gross negligence, for example ignoring clear, specific warnings.
CRM Code
The voluntary CRM Code may apply
Between 28 May 2019 and 6 October 2024, many UK banks signed up to the Contingent Reimbursement Model Code, under which most victims should be reimbursed, with exclusions. If your bank did not sign up, a complaint can still argue it should have spotted and stopped the payments.
Duty of care
No specific scheme, but you can still complain
Before 28 May 2019 there was no reimbursement code. A complaint would focus on whether your bank should have noticed unusual payments and intervened. Ombudsman time limits apply, generally six years from the event or three years from when you knew you had cause to complain.
Unauthorised payments
Your bank should normally refund you promptly
If you did not make or authorise the payments, for example after a stolen card, a hacked account or a SIM swap, your bank should normally refund them quickly unless it can show you acted fraudulently or with gross negligence. Tell your bank within 13 months.
Chargeback and Section 75
Your card provider may have to help
You can ask for a chargeback through the card scheme, which has time limits (often around 120 days). For single items costing between £100 and £30,000 bought on a UK credit card, Section 75 of the Consumer Credit Act can make the card provider jointly liable.
Chargeback
A chargeback may be possible
Debit card payments are not covered by Section 75, but you can ask your bank to raise a chargeback through the card scheme. Act quickly: time limits apply, often around 120 days.
Case by case
Harder, but the bank payments may still be reviewed
Crypto transfers themselves are rarely reversible, and payments to an account in your own name, such as your exchange account, are usually outside the mandatory reimbursement scheme. A complaint can still ask whether your bank should have spotted the risk and intervened.
Outside the scheme
International payments are not covered by the UK scheme
The mandatory reimbursement rules only apply to UK Faster Payments and CHAPS. You can still complain on the basis that the bank failed in its duty to protect you from fraud.
In every case you can complain to your bank, then refer the complaint to the Financial Ombudsman Service, normally within six months of the bank's final response. See how.
How the UK rules have changed
For bank transfers you were tricked into making, the date of the last payment decides which rules apply.
-
Before 28 May 2019
No reimbursement code
Complaints rely on the bank's general duty to look out for signs of fraud.
-
28 May 2019 to 6 October 2024
Contingent Reimbursement Model Code
A voluntary code signed by many banks. Most victims should be reimbursed, with exclusions.
-
From 7 October 2024
Mandatory reimbursement
Banks must reimburse most authorised push payment fraud up to £85,000 per claim, reported within 13 months.
Limits and conditions can change. Check the current rules with your bank or the regulator.
Payments you were tricked into making
Some countries have mandatory reimbursement schemes; in others, the question is whether the bank did enough to protect you, for example by warning you or stopping unusual payments.
Card payments
Card providers can raise chargebacks through the card scheme, and some countries give extra protection for credit card purchases. Time limits apply, so act quickly.
Outside your country
If you or your bank are outside the UK, different rules and ombudsman services apply. Tell us where you and your bank are based and we will explain your options.
Questions to ask your bank
Ask these in writing so you have the answers on record.
- Which reimbursement rules apply to my payments?
- Did your systems flag any of these payments?
- Did you try to recover the money from the receiving bank?
- How do I escalate if I disagree with your decision?
Not sure where you stand?
Tell us what happened and we'll explain your options for free.