We’re updating our Savings Terms and Conditions

From 9 April 2025, we’ll be making some changes to our Saving Accounts Terms and Conditions. You don’t need to do anything as these updates will automatically apply.

What is changing?

We’re adding two new conditions. These relate to Authorised Push Payment (APP) Fraud and Confirmation of Payee (CoP). Both these elements of banking regulation are already in place.

The updated Savings Terms and Conditions can be found here.

Authorised Push Payment (APP) Fraud

With effect from 7 October 2024 new rules were introduced by the Payment Systems Regulator (PSR) to protect consumers who are subject to APP Fraud.  These rules make it easier for eligible victims of APP fraud to claim a refund, by introducing mandatory reimbursement, and ensure that victims receive consistent levels of protection. We’ve included details related to your rights and eligibility.

Click here for further information on Authorised Push Payment (APP) Fraud.

Confirmation of Payee

We use Confirmation of Payee (CoP) to help protect against fraud and make sure payments go the right person and the details provided match the intended recipient. CoP checks whether the recipient’s name matches the account details. The changes highlight how CoP works.

Click here for further information on Confirmation of Payee.

For further information please get in touch with our savings team on 01509 631960 or email [email protected]