»

TSB launches refund guarantee for fraud victims - MSE News

New Post Advanced Search

Coronavirus: The latest from MSE


The MSE team is working extremely hard to keep the info we have about your travel rights, cancellation rights, sick pay (and more) up to date.
The official MSE guides: NEW MSE Coronavirus Guides

NEWSFLASH 31/3
RESCUE FLIGHTS FOR STRANDED BRITS * SCHOOL MEALS VOUCHERS * BRIGHTHOUSE COLLAPSES

TSB launches refund guarantee for fraud victims - MSE News

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
34 replies 2.4K views
MSE_NaomiMSE_Naomi MSE Staff
421 posts
Second Anniversary I've been Money Tipped! Newshound!
MSE Staff
edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
TSB has promised to refund customers who lose money through any type of fraud under its Fraud Refund Guarantee...
Read the full story:
'TSB launches refund guarantee for fraud victims'
OfficialStamp.gif
Click reply below to discuss. If you haven’t already, join the forum to reply.
«134

Replies

  • eskbankereskbanker Forumite
    13.1K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    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
    9.1K posts
    Ninth Anniversary 1,000 Posts Name Dropper
    ✭✭✭✭
    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
    647 posts
    500 Posts Fourth Anniversary Newshound!
    ✭✭
    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
    12.6K posts
    10,000 Posts Fifth Anniversary Name Dropper
    ✭✭✭✭✭
    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
    529 posts
    Not sure how you can differentiate between people who are genuinely scammed and fraudsters who will inevitably scam this particular service.
  • anotheruseranotheruser Forumite
    2.9K posts
    Seventh Anniversary 1,000 Posts I've been Money Tipped! Uniform Washer
    ✭✭✭✭
    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
    13.1K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    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
    3.8K posts
    Tenth Anniversary
    ✭✭✭✭
    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
    647 posts
    500 Posts Fourth Anniversary Newshound!
    ✭✭
    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
    2.2K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    So are they just complying with the voluntary code early?
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support