We’re proud to offer more fraud protection than any other bank.
On 14 April 2019 we launched our fraud refund guarantee. This is a first in UK banking and it goes further to cover TSB customers against fraud than anything that has come before it. We’re proud to say we refunded 91% of stolen money to fraud victims, which is officially the highest of any UK bank*.
*Source: Authorised push payment (APP) fraud performance report, October 2023.
You're even covered against honest mistakes.
We believe that no TSB customer should have to pay for being tricked by a scam on their TSB account. Whether you accidentally click on something you shouldn't, or share some sensitive information without thinking, we’ll refund you under the terms of our fraud refund guarantee.
We believe that customers who are innocent victims of fraud shouldn’t have to fight for a refund. So, from 14 April 2019, we will refund customers who are clearly the innocent victim of fraud on their TSB account.
TSB customers will need to contact us to report fraud exactly as they do today, by calling the number on the back of their card. Alternatively, customers can call 0800 023 4113 (credit and debit card related fraud) or 0800 096 8669 (Internet, mobile, or telephony related fraud).
We will quickly investigate the fraud claim, to make sure that we understand how it’s happened – so that we can give you safety advice to make sure you’re not affected by fraud again. We may also need to help you to reset your login details or other account information.
Your refund will be paid back into your account as quickly as possible.
As you’d expect, we will not repay losses where customers are involved in committing the fraud.
Customers will not be refunded where they have abused the guarantee, for example by deliberately ignoring account safety information and/or making repeated claims under the guarantee.
The guarantee doesn’t cover purchase disputes, where you pay for something with your TSB account and the goods or services don’t meet your expectations. This could be if the item arrives differently to how it was described But, if you feel you’ve been misled by the seller, you may be able to claim under the chargeback rules or the Consumer Credit Act, if you used a debit card or credit card.
The guarantee doesn’t apply if the fraud losses happened before Sunday 14 April 2019.
The guarantee covers authorised and unauthorised transactions for claims meeting the criteria; for authorised transactions the guarantee is limited to £1million per claim.
At the moment, there are certain times where banks are legally obliged to refund customers, however even these have loopholes. Our guarantee covers customers who are clearly innocent victims of fraud on their TSB account.
TSB is the first bank in the UK to offer anything like this level of cover to customers.
The guarantee only applies to fraud losses that happened on or after Sunday 14 April 2019.
If you got a decision from a claim that you made before Sunday 14 April 2019, this decision cannot be overturned unless there is new evidence that would have made us reach a different decision at the time – the guarantee doesn’t apply to fraud that happened before 14 April 2019.
If you want to see how we protect you from fraud and how to protect yourself, explore our Fraud Prevention Centre.
Authorised push payment (APP) fraud rankings in 2022
Authorised push payment (APP) fraud happens when someone is tricked into transferring money to a fraudster’s bank account. These charts use data given to the Payment Systems Regulator (PSR) by major banking groups in the UK, in 2022.