From bank accounts to loans, savings, insurance, investments and pensions, virtually every adult is a consumer of financial services. One of our statutory objectives is to secure an appropriate degree of protection for consumers dealing with firms carrying on regulated financial services activity.
Deposit protection steps
- Know the deposit protection limits
- Beware of multiple brands
- Check the Financial Services Register
- Confirm cover for foreign banks
Unauthorized payments from your account
In most circumstances, your bank must refund you for an unauthorized payment. Money can only be taken from your account if you’ve authorized the transaction. If you notice a payment from your account that you didn’t authorize, you should contact your bank or other payment service provider immediately. You won’t be responsible for any unauthorized payments after you’ve told your bank or card issuer of the loss, theft or unauthorized use of your card or password – unless your bank can prove you acted fraudulently.