Common scam types

Authorised Push Payment (APP) fraud happens when you transfer money to a fraudster either because they have impersonated someone you intended to pay or because you believed you were making a payment for a genuine purpose which turned out to be fraudulent.

An example of APP fraud is somebody pretending to be a bank operative or fraud team, who might warn you that you need to move your funds to a safer place.

Never automatically presume someone asking you to make a payment is genuine. If you're unsure about making a payment, check with your bank first.

When opening a savings account with us, we'll always ask you to nominate a bank account for repayments. This account must be in your name and can only be updated to another account in your name. We won't allow funds to be sent to anyone else.

Please be aware that we may accept joint accounts as nominated accounts, so it's crucial you have full trust in the other account holder.

You should contact your bank or building society as soon as possible, so they can try and stop the payment. You can call us on 0203 857 3050 (Monday to Friday, excluding bank holidays).

If required, your bank will lead on your reimbursement claim, but it may be helpful to also contact the bank you sent the money to, so they can begin their internal checks on the account you sent the money to straight away.

Please note, it's best to call the bank on a different phone to the one the fraudster used to call you, as research has found that the fraudster can keep the line open and listen to your call once the call has ended. If you don't have access to another device, wait 15 minutes before making the call on the same phone. 

New reimbursement rights for APP fraud came into force on 7 October 2024. Under the new rules, if you are a victim of APP fraud and are eligible for a refund, you may be entitled to:

• A refund within five days of your request, subject to a successful investigation. For more complex cases where further information is needed, this can take up to 35 days.
• Up to a maximum of £120,000 per claim.
    

In order to be eligible for a refund for an APP fraud from Close Brothers Savings, you must:

• Be a customer of Close Brothers Savings.
• Inform us of the suspected fraud as soon as possible and, in any event, no later than 13 months after you made the alleged payment to the scammers account.
• Inform us of the suspected fraud by contacting our Customer Services team.
• Provide us with any information and evidence which we may need to investigate your claim.
• Report the fraud to the police if we ask you to, or permit us to report the fraud to the police on your behalf.

You will not be eligible for a refund from Close Brothers Savings if:

The claim relates to a civil dispute between you and the person or business that received the payment, and not to any potential fraud by the person you paid.

• We have reasonable grounds to suspect that the claim you made was fraudulent or dishonest, or that you are involved in the fraud.
• We do not receive the required information to investigate your claim.
• The account you sent money to is with a credit union, municipal bank or national savings bank.
• The payment was sent to another account which you control.
• We reasonably believe you were grossly negligent in making the payment (for example, you have ignored warnings by us, other payment service providers or law enforcement).
• You inform us of the fraud more than 13 months after the date of the final payment to the fraudster.
• The payment was made before 7 October 2024. 

If you're unhappy with the outcome provided by your bank or building society, you're within your rights to raise your concerns. You can raise a complaint with the bank first, and, if you are not satisfied with their response, you may ultimately be able to refer their reimbursement decision to the Financial Ombudsman Service.

You can find more information at:  https://www.financial-ombudsman.org.uk/