How much can I claim back?

You can claim back unfair charges plus 8% annual interest from the date of each charge. Amounts vary—some customers have reclaimed thousands.

How long do I have to claim?

6 years from when the charge was applied. Claim for all charges within this window. Do not delay—after 6 years you lose the right.

Yes, initially. Send a formal demand letter. If they refuse, escalate to the FOS. Most banks settle rather than fight, especially for older charges.

How to Get Unfair Bank Charges Refunded

Q: Are bank charges unfair?

Many overdraft and arrangement fees charged by banks are unfair under FCA Consumer Duty 2023. Banks must charge reasonable fees that reflect actual costs. Excessive fees may be refundable.

Q: What counts as unfair?

Excessive overdraft fees (especially on small amounts), fees for going slightly overdrawn, automatic extension fees, and charges that don't reflect the bank's actual costs.

Claim refunds under FCA Consumer Duty rules

Quick Answer

Under FCA Consumer Duty 2023, banks must charge reasonable overdraft fees reflecting actual costs. Excessive charges are unfair and refundable. Send a formal demand citing FCA rules, requesting refund of all charges plus 8% annual interest for 6 years back. Most banks will refund without court action. If they refuse, escalate to the FOS.

What Counts as Unfair Bank Charges?

Unfair charges include: excessive overdraft fees on small amounts (e.g., £5 fee for £10 overdraft), automatic extension fees, charges for going slightly overdrawn without permission, and fees that don't reflect the bank's actual costs. The FCA 2023 Consumer Duty requires banks to charge transparently and fairly. Compare your charges to competitors—if they're significantly higher without added value, they're likely unfair.

Common unfair practices: flat daily fees that don't vary by amount, charges for notifications, and excessive interest rates applied unexpectedly.

How to Claim

Step 1: Get your statement showing all charges. Step 2: Calculate total unfair charges plus 8% annual interest from each charge date. Step 3: Send a formal demand letter to your bank citing the FCA Consumer Duty rules. Request refund within 14 days. Step 4: If refused, escalate to the FOS. Most banks settle to avoid FOS involvement, especially for older charges.

Use our Bank Charges Template to draft the demand letter quickly.

What the Law Says

FCA Consumer Duty 2023

Fair charging requirements

Banks must act in customers' interests and charge transparently, fairly, and reasonably. Excessive fees breach this duty.

BCOBS Rules

Banking conduct rules

Banks must provide fair terms, disclose charges clearly, and not impose unfair penalties.

Unfair Contract Terms Act 1977

Exclusion of liability

Banks cannot exclude consumer protection through contract terms. Unfair charges are unenforceable.

FAQ

How far back can I claim? +

6 years from each charge date. Review your statements for 6 years back and claim for all unfair charges found in that window.

Can I claim if the bank says they disclosed the charges? +

Yes. Disclosure doesn't make unfair charges fair. If the charges are excessive relative to actual costs, they're still unfair under FCA rules.

Will claiming affect my banking relationship? +

Banks cannot close your account or reduce services for making a legitimate claim. That would be breach of law. Stay professional in your demand.

Should I use a claims company? +

No. Claims companies take 20-30% of refunds. Handle it yourself using our template. Banks often settle faster for personal claims.

What if my bank has already told me the charges were fair? +

That was before FCA Consumer Duty 2023 strengthened rules. The FCA's new guidance supports claims even on older charges. Reapply with the new rules cited.

Claim Your Refund

Use our Bank Charges Tool to calculate refunds and draft a formal demand letter.

Calculate Now