TSB has announced the launch of what it claims is the UK’s first fraud refund guarantee, which will protect its 5.2 million customers against all types of transactional fraud losses.
The guarantee will protect customers if they are an innocent victim of fraud.
This will include those who have had unauthorised transactions on their accounts and those who have been tricked into authorising payments.
Richard Meddings, executive chairman at TSB, said: “The vast majority of fraud claims across UK banking are from innocent victims of fraud, who have been targeted by criminals and organised gangs.
“However, all too often these customers must fight to be refunded and are not treated as victims of crime.
“We want to provide peace of mind to our customers, that’s why we’re proud to announce the TSB fraud refund guarantee.
“If a TSB customer innocently suffers a fraud loss on their account after being targeted by a criminal, we’ll cover it.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Unity Trust Bank provides £1.1m loan for homeless housing
Unity Trust Bank has provided a £1.1m loan to enable The Cornerstone Partnership to purchase 17 properties for the homeless in Coventry...
Holvi sets out plans for European expansion
Small business current account provider Holvi has announced plans to expand its presence across the eurozone, focusing on Ireland, Italy, Belgium, France and the Netherlands...
Collaboration is the new disruption
Collaboration is key. The incumbents undoubtedly have the customers and the new entrants have the technology, so logically the combination of these two factors creates a far greater proposition than either one on its own...
OSB posts 5% loan book growth
OneSavings Bank (OSB) has grown its loan book by 5% in the three months to 31st March 2019, according to its latest trading update...
Investec, Nationwide and The Co-operative Bank awarded £80m of funding
Investec Bank has been awarded £15m from pool B of the Banking Competition Remedies Ltd (BCR) Capability and Innovation Fund (CIF)...
When relationships count, it’s the new entrants who are gaining market share
The theory that some things are often better said in person really does ring true for small- and medium-sized businesses...
Sim Gill appointed to newly created role at Gatehouse
Gatehouse Bank has promoted Sim Gill (pictured above) to the post of intermediary national key account manager...
Hinckley & Rugby partners with Criteria Hub
Hinckley & Rugby Building Society has updated its criteria search system for mortgage intermediaries following a partnership with Criteria Hub...
Aldermore completes integration with vehicle finance business
Aldermore has completed its integration with vehicle finance business MotoNovo Finance...
Metro Bank confirms £350m equity raise plan is ‘well advanced’
Metro Bank has confirmed that it plans to raise around £350m of equity capital to support its growth...
Al Rayan Bank partners with Alexander Hall
Al Rayan Bank has partnered with mortgage broker Alexander Hall...