Customer Rights and Eligibility Under the New Authorised Push Payment (APP) Scam Reimbursement Requirements

With effect from 7 October 2024, Cublox Ltd. will provide reimbursement to qualifying customers who become victims of APP scams, subject to meeting certain eligibility criteria.

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Eligibility Requirements

For Business and Commercial Clients:

The reimbursement rules apply to businesses with a Cublox Wallet in the UK and include Micro-enterprises (Defined as businesses with fewer than 10 employees and an annual turnover or balance sheet total not exceeding €2 million (or equivalent in GBP)).

Transactions Covered:

• Applicable to payments made through the UK Faster Payments System (FPS) to or from a UK account.

Time Limits:

• Only payments made on or after 7 October 2024 are eligible.
• Scams must be reported within 13 months of the final payment to the fraudster.

Reimbursement Limits:

• The maximum amount refundable per claim is £85,000.
• An excess fee of up to £100 will apply.

Exclusions:

Certain circumstances fall outside the scope of the APP reimbursement rules, including gross negligence, cross-border transactions, first-party fraud and civil disputes. For a detailed list of applicable exclusions, please refer to Annex 1 below.

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How to Report an APP Scam

Steps to File a Claim:

1. Contact Us: Email the Cublox support team at support@cublox.com.
2. Claim Process:
   • Acknowledgement: You will receive confirmation within 24 hours, along with guidance on the next steps.
   • Investigation: Our team will collect necessary information and keep you informed during the investigation, via email.
   • Decision: The decision on the claim will be communicated to you within 35 business days. Approved reimbursements will be deposited into your Cublox wallet.

Unhappy with the Outcome?

If you are dissatisfied, you can escalate your concern by following Cublox’s Complaints Policy.

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Preventing APP Scams

Cublox advises customers to take precautions when making payments and to stay vigilant with regard to fraud risks.

What We Do to Help:

• Stay Alert: Pay attention to warnings and alerts issued by Cublox, service providers, or applicable authorities.
• Report Quickly: Notify your Payment Service Provider immediately if you suspect fraudulent activity.
• Aid Recovery Efforts: We may collaborate with the receiving Payment Service Provider (PSP) to assist in the recovery of your funds.
• Engage Law Enforcement: Scams can also be reported to the police via Action Fraud, either directly or with our assistance.

For further support and information on this subject, contact our Customer Support Team at support@cublox.com.

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Annex 1 – Comprehensive List of Exclusions

Claims may be declined under certain circumstances, which will be evaluated during our investigation. The relevant exclusions are:

1. Gross negligence:
   • Ignoring interventions by your Payment Service Provider or relevant authority.
   • Failing to promptly notify your Payment Service Provider upon suspecting a scam.
   • Not providing necessary information for claim assessment.
   • Declining to report to the police or allowing the provider to do so.
2. Excluded transaction types:
   • International payments or those processed via non-FPS systems.
   • Transactions involving cheques or cash.
3. First-party fraud:
   • Situations where the account holder is directly involved in the scam.
4. Time restrictions:
   • Payments made before 7 October 2024.
   • Claims submitted more than 13 months after the final scam payment.
5. Other exclusions:
   • Payments made to accounts controlled by the claimant or unauthorized payments.
   • Disputes categorised as civil disputes.
   • Payments routed through credit unions, municipal banks, or national savings banks.