The banks least likely to refund scam victims

Fri 13 Mar, 09:12

Thanks for sharing. Can I also just add that Nationwide scam prevention is first class too. I recently had my cards cloned in London and they rang me before I'd even realised because they detected unusual activity. It would be interesting to see stats for fraud detection too-prevention is better than cure (or a refund....!)

Fri 13 Mar, 07:02 (last edited on Fri 13 Mar, 08:39)

Yes I do remember that. What I had forgotten is, after being owned by various hedge funds, the Co-op was bought by the Coventry Building Society in 2025. So the Co-op is now a subsidiary of a mutual building society and, I assume, an ethical choice once more...

Thu 12 Mar, 23:21 (last edited on Thu 12 Mar, 23:22)

Don't you remember the Chairman Paul Flowers - known as the Crystal Methodist for his dubious habits as a non-conformist minister of religion - used to chair the Co-op bank?   Now serving time for fraud by abuse of position?

Thu 12 Mar, 21:50

Interesting. Nationwide is also one of the more ethical banking options, being a building society. The Co-op, which used to be considered an ethical bank, is worryingly low down on that list.

Thu 12 Mar, 17:21 (last edited on Thu 12 Mar, 21:42)

Banking group

 https://www.psr.org.uk/media/b50p3mlm/psr-2024-app-scam-performance-data-february-2026.pdf

% cases fully refunded (partially refunded)

% losses reimbursed 2024

Nationwide

97% (2%)

85%

TSB

94% (4%)

80%

Barclays

87% (9%)

77%

NatWest, RBS, Ulster Bank

90% (2%)

75%

Santander

73% (19%)

73%

Metro Bank

68% (14%)

70%

HSBC, First Direct

81% (5%)

68%

Clydesdale, Virgin Money

77% (8%)

67%

The Co-operative Bank

54% (11%)

62%

Starling

75% (5%)

55%

Lloyds, Bank of Scotland, Halifax

68% (14%)

49%

AIB

10% (1%)

31%

Monzo

18% (6%)

25%

Danske Bank

20% (10%)

24%