The CHAPS reimbursement requirement
3.1 When a victim reports a reimbursable CHAPS APP scam payment to their sending PSP, the sending PSP must reimburse the victim in full. This is the CHAPS reimbursement requirement.
The scope of the CHAPS reimbursement requirement
3.2 The CHAPS reimbursement requirement applies to all reimbursable CHAPS APP scam payments executed on or after the implementation date. The implementation date is 7 October 2024.
3.3 The CHAPS reimbursement requirement applies in line with the exceptions and additional provisions set out in the CHAPS reimbursement rules. These exceptions and provisions shall be applied in respect of the CHAPS reimbursement requirement subject to any specific definitions or requirements which are applicable in the context of that requirement.