How To Claim Back Bank Charges

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Banks may charge their customers fees for variety of reasons, including for an overdraft, a order on a check, or a fee for maintaining the account. If you notice a fee on your statement that you simply haven’t seen within the past and you probably did not comply with , you ought to contact your bank immediately. albeit the fee was a penalty for an error that you simply made, banks are often willing to waive the fee or credit back your account instead of risk losing a loyal customer.

Who can reclaim charges?

Anyone can write or speak to their bank and invite a refund. Some banks might even write off charges as a gesture of goodwill to a valued customer.

A Supreme Court ruling in 2009 made it harder to reclaim charges, but it’s still still possible, especially if you’re struggling.

If your bank refuses, you’ll always ask the Financial Ombudsman Service to research (for free).

They can help if:

  • You’re in real financial hardship. for instance , if you’re struggling to shop for necessities and pay bills, or you’ve lost your job.
  • the fees are unfair compared to what you probably did . for instance , if you went overdrawn £1 and were charged £35.
  • You’re stuck during a spiral of charges. This might happen if the fees keep putting you into the red, and therefore the overdraft keeps costing you more in charges.

How to claim back bank charges

Money Saving Expert step-by-step guide

We think Money Saving Expert has the simplest guide the way to reclaim unfair overdraft charges and bank fees.

Their guide will help you:

  • Decide whether to complain
  • compute what proportion you would possibly get
  • Complain to your bank
  • Write good complaint letters, with sample letters and templates
  • Take your case to the Financial Ombudsman if your bank won’t help

Determining Whether you’ve got Been Penalized

Review your bank statements regularly. In some cases, your only notification of a fee charged to your checking account are going to be the deduction from your account that’s reflected on your statement . it’s vital that you simply regularly review all of the deductions made up of your account, not just your account balance. If you were charged a fee, you’ll want to contact your bank as soon as possible to deal with the difficulty .

Negotiating together with your Bank to get rid of a Fee

Address the fee immediately. Once you notice a fee on your account, you would like to deal with it as soon as possible. you ought to review your TOS, determine the sort of fee, and gather any notes or information that you simply have regarding your account in order that you’re prepared to speak to a bank representative. you ought to pull the knowledge together quickly and albeit you don’t have all of the knowledge , you ought to still contact your bank. Generally, it’s easier to possess a fee removed if you address it as soon as possible.

Filing a Complaint With Federal regulatory authority

Consider filing a complaint against your bank. If you are feeling that you simply bank has been unfair or misleading, discriminated against you during the lending process, or violated a federal consumer protection law, you’ll file a complaint against the bank. If you’re concerned that you simply may are charged an excessive and illegal overdraft charge or other illegal fee, it’s important to boost that concern together with your bank and if they fail to act, take steps to report the bank’s conduct.

  • you’ll view a state-by-state legal guide to credit and debit surcharges at:
  • Federal law prohibits banks from charging customers overdraft fees unless a customer has agreed to the overdraft service. If you probably did not comply with this service, you ought to report your bank.


  • If, as a part of its regular service, your bank charges variety of various fees, you ought to consider switching to a different bank. Generally small banks and credit unions tend to charge smaller fees than large banks.
How To Claim Back Bank Charges

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