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.”
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