Fraud, Guides, Scam

Consumer guide to the Contingent Reimbursement Model (CRM) Code

Posted on by Intellistart Marketing
Consumer guide to the Contingent Reimbursement Model (CRM) Code
10
Jun

What is the Contingent Reimbursement Model (CRM) Code?

The CRM Code is a voluntary set of guidelines followed by certain UK banks to protect customers who fall victim to authorised push payment (APP) fraud. APP fraud occurs when someone is tricked into sending money directly to a fraudster’s account.

Banks that have signed up agree to assess APP fraud cases fairly and reimburse victims if they meet the criteria in the code.

How does the CRM Code work?

  • Banks reimburse victims of APP fraud if the customer meets certain eligibility criteria.
  • Banks may refuse reimbursement if:
    • The payment wasn’t a scam but a civil dispute (e.g., dissatisfaction with a purchased product).
    • The customer had no reasonable basis to believe the payment was legitimate.
    • The bank gave an effective warning which the customer ignored.

Key points

  • The code only applies to payments from one UK bank to another UK bank that has signed the code.
  • It covers payments made between 28 May 2019 and 6 October 2024 (when the CRM Code was replaced by a mandatory reimbursement rule).
  • Banks are expected to treat each case fairly and promptly.
  • Some banks apply the code fully, others partially, and not all banks have signed up (e.g., Monzo follows its principles but hasn’t officially signed).

Who has signed up to the CRM Code?

The following banks have signed up to the CRM code:

  • Barclays Bank UK
  • The Co-Operative Bank
  • HSBC (including First Direct and M&S Bank)
  • Lloyds Banking Group (Lloyds, Halifax, Bank of Scotland)
  • Metro Bank
  • Nationwide Building Society
  • NatWest Bank
  • Royal Bank of Scotland
  • Ulster Bank
  • Santander
  • Starling Bank
  • Virgin Money and Clydesdale Bank

What if your refund is denied unfairly?

If your refund is denied unfairly, you have the following three options:

  1. You can complain to your bank.
  2. If unsatisfied, you can escalate to the Financial Ombudsman Service.
  3. Regulated law firms, like Phoenix Legal Solicitors, offer professional help to claim back lost funds. Our team provides this service on a no win no fee basis which means less risk to you.
More about Scam/Fraud Claims

Payments Eligible for CRM protection:

The following payments are eligible for CRM protection:

  • Payment made via Faster Payments, CHAPS, or internal bank transfer to a UK account.
  • Payment date on or after 28 May 2019.
  • The payment was sent from a bank that has signed up to the CRM Code.

If you have fallen victim to a scam and have lost more than £3,000.00, reach out to our expert team at Phoenix Legal Solicitors to find out whether you have grounds to make a financial fraud/scam claim. We are experienced in dealing with scam and fraud claims and have helped numerous clients recover their money.

Get in touch with us now for a free assessment of your case.

0151 306 3694 Contact page

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