The BBC's Moneybox programme this week revealed that some customers had been defrauded of hundreds of pounds by thieves using the Get Cash app.
Natwest launched Get Cash and Emergency Cash in June, both of them systems that allow people who have lost or damaged their cards to withdraw money using a code at their cash machines. Get Cash is an app, Emergency Cash involves calling an operator.
In one case, that of Tim from London, money disappeared in 11 cash withdrawals over a 3-day period, none of them exceeding the Â£100 per-transaction limit.
Natwest initially refused to refund Tim, accusing him of falling for a phishing scam.(Nice, clearly thought that one through.) They only relented after MoneyBox contacted them.
"But Tim says he still wants to know how a fraudster managed to sign up for mobile banking on his account, download the app, and carry out 11 cash machine withdrawals: “It’s a huge liability which you don’t actually know about. I had to find out what Emergency Cash was. I don’t want it as a facility.”
You can hear the full story here
We published this presentation last week on how to regain consumer trust in the wake of fraud