Lost under £1,500 to a scam?

Even smaller amounts are worth pursuing. Under PSR rules, there’s no minimum claim value — your bank must reimburse eligible fraud victims regardless of the amount. However, our minimum claim threshold is £1,500 for professional representation.

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Key information

  • There is no minimum under PSR mandatory reimbursement — your bank must refund eligible claims of any amount
  • Your bank may apply a £100 excess, which is more significant on smaller claims
  • For amounts under our £1,500 minimum, you can pursue the claim directly with your bank at no cost
  • If your bank refuses, the Financial Ombudsman is free to use directly

The PSR mandatory reimbursement scheme has no minimum claim value. Even if you lost a few hundred pounds, your bank is required to reimburse you if the payment qualifies.

However, banks may apply a £100 excess on your refund (this doesn’t apply to vulnerable consumers). For very small losses, this excess can be a significant proportion of your claim.

Our professional service has a minimum claim threshold of £1,500, as smaller claims are uneconomic to pursue on a no-win-no-fee basis. For losses below this amount, we recommend contacting your bank directly — the process is straightforward and the Financial Ombudsman is free if your bank refuses.

Recommended route: PSR mandatory reimbursement / direct complaint

Common Questions

Under £1,500 claim FAQ

Yes. Your bank is legally required to reimburse eligible APP fraud of any amount. For smaller losses, you can pursue the claim directly — contact your bank, and if they refuse, escalate to the Financial Ombudsman (which is free). Our professional service applies to claims of £1,500 or more.

Some banks apply a £100 excess on refunds. This can’t be applied if you’re classified as vulnerable. Not all banks charge it, and some apply it on a case-by-case basis. If you think the excess is unfair, you can challenge it.

We operate on a no-win, no-fee basis under a Damages-Based Agreement. If your claim is unsuccessful, you pay nothing. If we recover funds for you, our fee is a percentage of the amount recovered. The exact percentage is clearly explained before you sign anything, as required by SRA regulations.

The PSR mandatory reimbursement scheme applies to payments made within 13 months. For older cases, the Financial Ombudsman can consider complaints up to 6 years from the event, or 3 years from when you became aware. We can assess your eligibility during the free initial review.

Other claim ranges

£1,500 — £10,000£10,000 — £85,000Over £85,000Business fraud claims

Lost money to fraud?

Free eligibility assessment. No obligation. Takes 5 minutes.

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