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Dear Customer,
We would like to inform you that the Authorised Push Payment (APP) Fraud Reimbursement rules, that apply to bank and payment service providers for relevant UK consumer accounts, do not apply to the accounts provided by [Program Manager name].
Why?
Our accounts are issued by a Gibraltar Financial Services Commission (GFSC)-licensed institution (Transact Payments Limited). This is important as the APP Fraud Reimbursement rules apply to relevant UK accounts and our accounts are issued by an institution domiciled and registered in Gibraltar, and are therefore out of scope of the reimbursement rules.
What this means?
This means that if you are a victim of APP fraud (where a payment is made to a fraudster and authorised by you), you will not be entitled to reimbursement under the conditions set out in the rules.
Nevertheless, if you fall victim to APP Fraud, we will make every effort to recover your funds, provided you notify us immediately if you suspect or become aware of any fraudulent activity.
For more information on how to prevent APP Fraud from happening, please visit our Security, Privacy and Fraud section.
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