Santander, Lloyds, Halifax, Barclays, NatWest customers could be forced to pay £100 each

Under new rules, banks must reimburse customers tricked into transferring money to scammers. Reimbursement is now mandatory up to the value of £85,000 under the rules set by the Payment Systems Regulator (PSR) and firms can also opt to apply an excess of up to £100.

A number of banks are committing to forgo this excess fee, and some are open to examining claims that surpass £85,000. NatWest, which encompasses the Royal Bank of Scotland (RBS) and Ulster Bank, is keeping an eye on security improvements to thwart the plans of swindlers targeting their customers.

A spokesperson from NatWest said: "We're continuing to invest in our people and processes to better protect our customers from the criminals who target them." The bank, under new PSR regulations, is considering a fixed £100 excess, determined on an individual basis in alignment with their customer’s circumstances.

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Barclays, too, has left the door open to potentially charging a £100 excess for each claim, while assuring that every case will be assessed individually. A representative for Barclays said: "The protection of our customers' funds and data is our highest priority."

The bank said its "continued investment in robust security systems" and ongoing efforts to educate customers on scams help to keep scam rates down. Lloyds Bank and Halifax has indicated that customers might face a £100 excess charge, too.

And Santander UK has stated that it may impose a £100 excess fee for reimbursements, with each case also being evaluated individually. HSBC UK and First Direct have announced they will enforce the £100 excess, expressing their commitment to a reimbursement scheme that supports consumers.

An HSBC UK spokesperson commented: "All of us have a role to play in preventing fraud and scams." They added: "We want to encourage customer caution, particularly when it comes to lower-value purchases made online. This is why we will be applying the excess to the total amount reimbursed to customers while taking into account the specific circumstances of each customer where appropriate."