Some victims of bank transfer scams will not get a penny back despite beefed-up rules designed to better protect consumers from fraudsters, because several big banks have introduced an excess on refund claims. New rules requiring banks and other payment companies to reimburse fraud victims who have been tricked into sending money to scammers took effect last month, and included an optional £100 excess that firms can apply to a claim. The rules, which apply to payments made on or after 7 October 2024, mean that if you are scammed out of £90 through no fault of your own, you could still end up empty-handed, and if you lose £300, you might only get £200 back. However, the excess cannot be applied to “vulnerable” consumers. These types of frauds are known as authorised push payment (APP) scams, and the ballooning scale of the problem prompted changes to the rules, with payments up to £85,000 now covered. Almost a third (32%) of all APP scam cases involve sums under £100, according to industry data. Nationwide building society, Virgin Money and TSB have opted not to introduce the excess, but customers of other banks are being warned that it might be applied to them. Lloyds has started flashing up messages about the £100 excess when customers are making payments online or via its app, while NatWest is alerting customers via bank statements and digital displays in its branches. The major banks all said that claims from customers would be reviewed on a case-by-case basis. Lloyds added that if something prevented a customer from being able to protect themselves while making a payment, it wouldn’t apply the excess, while NatWest said it would consider a customer’s vulnerability when assessing a refund request. HSBC said: “We want to encourage customer caution, particularly when it comes to lower-value purchases made online. This is why we will be applying the [£100] excess to the total amount reimbursed to customers, while taking into account the specific circumstances of each customer where appropriate.” Nationwide said it had decided not to charge an excess because “it is vital we support victims of crime in their time of need while identifying ways to crack down and prevent fraud and scams before they take place.” The changes apply to the new breed of banks and payment firms too. Revolut warns customers of the excess on its website, and Monzo said that it will decide whether to apply the excess by reviewing each customer’s personal circumstances.