What are the exclusions to making a claim?

The new regulations only apply to fraudulent payments made between UK bank accounts on or after 7 October 2024. If your claim relates to a payment made before that date, you won’t be able to claim for reimbursement. You should submit your claim as soon as you can, and no later than 13 months after the final fraudulent payment was made. 

You also won’t be able to get your money back as part of the new regulations if the payment in question:

• Nature of your business

• The size of your business

• The number and frequency of transactions you undertake with your Tide account

We’re on a mission to help business owners with secure payment acceptance methods. It’s a balancing act though, certain company types are more complex to onboard. We hope to broaden this scope as we grow, but currently, we’re unable to sign up the following types of companies but not limited to:

• Was made by cash, cheque, or a credit, debit or prepaid card or any other payment system besides Faster Payments and CHAPS

• Relates to a civil dispute: for example, you’re trying to get your money back from a genuine seller or retailer because you’re not happy with the goods or services you’ve received 

• Wasn’t made within the UK (payments sent overseas aren’t covered)

• Wasn’t made with sufficient care (unless you have proven vulnerabilities – to find out more, take a look at our FAQ ‘What protections are in place for vulnerable customers?’)

• Was made in the knowledge that it was fraudulent you must not have lied or misrepresented your circumstances for financial gain

• Was made between accounts that are both yours

• Was unlawful, for example, to buy something that’s illegal

• Was made to and from an account with a credit union, municipal bank, or a national savings bank

In addition, we’ll apply a £100 excess to a successful claim, so if you have a claim for £1000, you’d be reimbursed £900. 

• Fetish products

• Content: Books, magazines, audio, videos, websites, streaming services and other content formats deemed offensive or of a sexual nature

• Escort services and other services in the adult industry

• Financial service or money service business.

• E-wallet or e-money that can be monetized, re-sold or converted to physical and digital goods and services or otherwise exit the virtual world

• Credit repair and credit protection business

• Buy now pay later / Instalment payment methods

• Bearer share entities and binary options

• Independent or unlicensed financial advisors

• Insurance sales and services (life)

• Money transfer & remittance businesses

• Payroll, invoice & business services

• Provider or seller prepaid access/stored value

• Marketing related services

• Airlines and Cruise Lines

• Cloud storage, VPN, file sharing, (high-risk) cyber lockers

• Animals and wildlife products classified as endangered or protected

• Bail bonds and bankruptcy lawyers

• Bidding fee and penny auctions

• Certain social media business (e.g. click farms)

• Casual dating services

• Direct Marketing – Inbound teleservices, outbound telemarketing and travel-related arrangement services, Insurance services, catalog merchants, door-to-door sales, Multi-level marketing

• Governmental services, such as embassies or consulates

• Hazardous materials (B2B and B2C)

• Intravenous therapy or Medical benefit packages

• Key-entry telecom merchant

• Live-streaming Services with in-app currency and donations

• Mail order spouse or international match-making services

• Pawn shops

• Political, religious or Social Campaigning

• Drugs, and tools specifically intended for the production of drugs, drug paraphernalia, illegal drugs, substances designed to mimic illegal drugs and / or other psychoactive products

• Gambling services

• Products or services specifically offered or intended to be used to create, produce or grow drugs or drug ingredients

• Pharmaceuticals, prescription medicine and medical devices (including animal pharmaceuticals)

• Tobacco, smoking supplies, e-cigarettes, e-liquids, vaping liquid, vaping accessories

• Trade of fireworks, flammable or radioactive materials

• Trade of weapons, ammunition, military arms, explosive devices and firearm parts

• Cryptocurrency exchange

• High-risk securities

• Security brokers /investments of any kind including the purchase of Third-party Payment Processing such as aggregators, digital wallets, Payment Fac, Payment service companies.

• Decryption and descrambler products and services, devices designed to block, jam or interfere with cellular and personal communications