Specific Direction 20 (SD20) requires PSPs to follow certain rules for reimbursing victims of authorised push payment (APP) fraud. These rules are set by the operator of Faster Payments, Pay.UK, under our Specific Requirement 1. We call them the FPS reimbursement rules.
Specific Direction 21 (SD21) requires all in-scope PSPs to comply with the CHAPS reimbursement requirement, the CHAPS reimbursement rules, and any requirements imposed in the CCDRS. PSPs must also have regard to any other guidance and/or standards issued by the PSR as regards to compliance with the CHAPS reimbursement requirement.
We are providing this list to help PSPs understand whether they are captured by SD20 and/or SD21. All firms are responsible for determining their legal obligations and we do not guarantee that this is a complete list. Firms that participate in FPS and provide relevant accounts must comply with SD20 and the FPS reimbursement rules unless they can demonstrate otherwise. Firms that participate in CHAPS and provide relevant accounts must comply with SD21 and the CHAPS reimbursement rules unless they can demonstrate otherwise.