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TSB launches refund guarantee for fraud victims - MSE News

TSB has promised to refund customers who lose money through any type of fraud under its Fraud Refund Guarantee...
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'TSB launches refund guarantee for fraud victims'
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  • eskbankereskbanker Forumite
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    Although the obligations on banks are increasing, it seems brave of TSB to stick their heads above the parapet in this way! It'll be interesting to know if it ultimately results in the level of fraud at TSB increasing, although I don't suppose that data would be readily available....

    Further details at https://www.tsb.co.uk/fraud-prevention-centre/fraud-refund-guarantee/
  • karlie88karlie88 Forumite
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    I'm amazed by this guarantee (and not in a positive way).

    Whilst it will be welcomed by an innocent person on the receiving end of such fraud, I can see the scammers laughing all the way to the (TSB) bank with this guarantee.

    And up to £1m for APP fraud?! Good luck to TSB...
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • swindiffswindiff Forumite
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    Is this anything like their guaranteed 5% interest on their current accounts

    We’re not like other banks that give you a high rate then take it away. That rate is there for good

    lol
  • colstencolsten Forumite
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    You'd think TSB would have perfected their fraud detection procedures, and their interaction with the NCA, to a T before they made this (Marketing) announcement. As will the other banks who have signed up to the voluntary code which comes into effect in May.

    But this is TSB so it's equally possible they don't actually know what they are doing :D
  • djpailodjpailo Forumite
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    Not sure how you can differentiate between people who are genuinely scammed and fraudsters who will inevitably scam this particular service.
  • anotheruseranotheruser Forumite
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    swindiff wrote: »
    Is this anything like their guaranteed 5% interest on their current accounts

    We’re not like other banks that give you a high rate then take it away. That rate is there for good

    lol
    Define what you think "for good" means?
    Forever?
    Because nothing lasts forever and to (mis)understand the bank when they said "for good" meaning "forever" is stupid.
  • eskbankereskbanker Forumite
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    swindiff wrote: »
    Is this anything like their guaranteed 5% interest on their current accounts

    We’re not like other banks that give you a high rate then take it away. That rate is there for good

    lol
    Define what you think "for good" means?
    Forever?
    Because nothing lasts forever and to (mis)understand the bank when they said "for good" meaning "forever" is stupid.
    Hasn't this already been done to death on all the other threads about TSB's rate reduction? I don't really see the need to replay it all on this one that's specifically about their fraud guarantee....
  • JuicyJesusJuicyJesus Forumite
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    This is going to be an absolute magnet for first party fraud and I can almost guarantee that this will get walked back very quickly.
    urs sinserly,
    ~~joosy jeezus~~
  • swindiffswindiff Forumite
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    Define what you think "for good" means?
    Forever?
    Because nothing lasts forever and to (mis)understand the bank when they said "for good" meaning "forever" is stupid.
    The definition of "for good" means permanent, not my definition by the way. What is stupid is using a term when interpreted correctly using any English dictionary as a reference, turns out to be totally incorrect.
  • nic_cnic_c Forumite
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    So are they just complying with the voluntary code early?
This discussion has been closed.
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