Fraud Transactions
Worried You May Have Been a Victim of Fraud?
At Payine, protecting your financial security is our top priority. If you’ve noticed any suspicious activity on your account or believe you may have been a victim of fraud, here’s a step-by-step guide to help you take the necessary actions.
Step 1: Review the Transaction Details
The first step is to carefully review the details of any transactions you suspect to be fraudulent. Often, unrecognized transactions may have a legitimate explanation. Consider the following:
- Different Trading Name: Some businesses operate under a different trading name than their registered company name. You can verify this by checking the company’s details on official registers like Companies House.
- Subscription Services: Could the transaction be from a subscription service you’ve signed up for, such as a recurring payment for a service or product?
- Free Trial Conversion: Is the transaction related to a service that transitioned to a paid subscription after a free trial period?
- Joint Accounts or Authorized Users: Was the transaction made by a joint account holder or an additional cardholder with authorization to use your account?
Step 2: Report Your Concerns
If, after reviewing the transaction, you still believe fraud may have occurred, it’s important to report your concerns right away:
- Contact Your Bank or Payment Services Provider (PSP): Notify your bank or PSP immediately. Provide them with all relevant details to help them investigate the transaction.
- Report to the Authorities: For UK residents, report the fraud to Action Fraud, the UK’s national fraud reporting center. This will provide a crime reference number for follow-up and assist in the investigation.
Step 3: What Happens After Reporting?
Once you’ve reported the suspicious activity, your bank or PSP will investigate the matter and may contact you for additional information or updates. You are encouraged to follow up with your bank or PSP to stay informed about the progress of the investigation.
Need Assistance or Have Questions?
If you’ve followed the steps above but still need assistance or clarification:
- Reach Out to Us: Email our dedicated fraud support team at compliance@payine.com. Please include a summary of the suspected fraud, along with any relevant reference numbers and transaction details.
- General Inquiries: For other fraud-related questions or concerns, email our customer support team at support@payine.com.
Important Update: Enhanced Protection Against Authorised Push Payment (APP) Fraud
We are updating our Terms of Service for the account holders, which include clearer details on how Faster Payments Service (FPS) Authorised Push Payment (APP) scam reimbursement works.
From 7th October 2024, enhanced protection against Authorised Push Payment (APP) fraud is available. APP fraud occurs when a scammer convinces you to willingly send money. Under new rules set by the Payment Systems Regulator (PSR), you may be eligible for reimbursement if you’re scammed, though most claims will have a £100 excess. You can find more details about your rights on the PSR website.
How are you protected?
If you find yourself in the unfortunate circumstance of being scammed after 7th October 2024, you may be eligible to claim reimbursement. However, please note that reimbursement isn’t automatic—each case will be reviewed individually, and a £100 excess applies to most claims. Please note – you’re still expected to take reasonable care when making payments, as failure to do so may affect eligibility.
What to do if you believe you’ve been scammed:
- Contact the bank or financial institution you made the payment from.
- Report the scam to Action Fraud at 0300 123 2040 or visit www.actionfraud.police.uk.
As always, our Customer Support team is here to provide any help or guidance you need during this time. Please contact us using the details below if you require any assistance.
- Fraud Support Team: compliance@payine.com
- Customer Support Team: support@payine.com
- Telephone: +44 7342 630972
- Telegram: +44 7342 630972
- WhatsApp: +44 7342 630972