TSB is urging the Payment Systems Regulator (PSR) to reconsider proposals which could mean one in four people who are tricked into transferring money to a fraudster being denied their money back.
The bank said the regulator should reconsider the plans for a new bank transfer fraud refund mechanism that would allow banks to exclude refunds where payments are for less than £100.
The UK Government has previously said that the PSR will be able to require banks to reimburse authorised push payment (APP) scam losses.
