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No need for UK fraud refund rules to change GBP85,000 cap, BOE says

By Phoebe Seers ( August 21, 2025, 12:52 GMT | Insight) -- There is no pressing case to change the cap on lenders' refunds for customers caught by automated push payment fraud, the Bank of England said today. This is because where frauds exceed the current cap of 85,000 pounds, banks and payments firms are often voluntarily reimbursing above this limit, the UK’s central bank said.There is no pressing case to change the cap on lenders' refunds for customers caught by automated push payment fraud, the Bank of England said today....

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