Your rights to reimbursement for APP fraud

Your rights to be reimbursed for Authorised Push Payment (APP) fraud by us, Monese, as an

Agent of Prepay Technologies Limited (referred to as “PPS” or “EPS” or “PPT”), your payment service provider, are changing on 7 October 2024.

APP scams happen when someone uses a fraudulent or dishonest act to manipulate, deceive or persuade you into transferring money from your account to another account not controlled by you, where:

• the recipient is not who you intended to pay, or

• the payment is not for the purpose you thought.

For the avoidance of doubt, if you’re party to the fraud or dishonesty, this is not an APP scam for the purpose of the Faster Payment System (“FPS”) reimbursement requirement, the FPS  reimbursement rules or the CHAPS reimbursement rules (governed by the Bank ofEngland).

A “victim” is a consumer who has made one or more APP scam payments. When a victim reports a Reimbursable APP scam payment to us at Monese, as an Agent of PPT, PPT is responsible for investigating  the claim and, If your claim is valid, reimbursing you in full, up to the maximum claim limit applicable, subject to an excess of up to £100.

The maximum reimbursement limit is published on the Payment Systems Regulator (“PSR”) website and currently amounts to £85,000. Also published on the PSR  website, the maximum excess amount is currently £100. The PSR may amend the maximum reimbursement limit amounts (for either Faster Payments  or CHAPS) and the maximum excess amount, from time to time.