How to Claim Back Bank Charges
Bank charges are a fact of life for many people. But sometimes, those fees can become too much to bear, and you may want to claim them back. This guide will explain how to claim back bank charges and if it’s right for you.
What are bank charges?
Bank charges come in many forms and have various terms depending on the type of account you have. Generally speaking, they’re any type of fee that you pay your bank for an overdraft or other services like bounced checks, wire transfers, monthly maintenance fees, etc. Some banks charge a flat rate while others charge different rates depending on the service used.
When can I claim back the bank charges?
If your bank has charged you an excessive amount of money for a service or there was an error in calculation or processing, then you may be able to claim back some or all of the charges. It’s important to research what the normal fees are for the type of service in question so that you can make sure that what you’ve been charged is fair and accurate. You should also check with your bank to see if there was an error in their processing or calculation that led to the overcharge.
How do I claim back bank charges?
If your research shows that you were overcharged, then it’s time to file a complaint with your bank and start the process of claiming back the money. The first step is usually to write a letter explaining why you believe you were overcharged and request a refund based on this evidence. Your letter should include all relevant information such as dates, exact amounts charged, details about any errors made by your bank, etc., as this will help support your case when it comes time for negotiation. Once your letter is sent off, most banks will respond within 14 days; however, if they don’t respond at all or take longer than 14 days then it is best to follow up with a phone call.
Claiming back bank charges isn’t always easy but it’s certainly possible if your situation warrants it. Make sure to thoroughly research what’s considered standard rates from other banks before making any claims – this will give you leverage when negotiating with your own bank – and follow up with a phone call if necessary so that nothing gets overlooked during the process! Ultimately though, knowing how to claim back bank charges could save you hundreds of dollars if done right! Good luck!