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YOU MAY BE DUE A BANK OVERDRAFT REFUND

Claim a bank overdraft refund

If you’re using an overdraft facility from your bank over an extended period of time, then you may be eligible to claim back money with an unaffordable bank overdraft claim.

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What are unaffordable bank overdraft claims?

Unaffordable overdraft claims are a type of financial complaint you can make if you have been charged excessive fees or had your overdraft extended without the proper checks. Overdrafts act as a form of credit that allows you to spend more money than you currently have available in your bank accounts. When you exceed your account balance, the bank may extend an overdraft, which comes with a fee or interest charge.

However, unaffordable overdraft claims arise when the fees charged for using overdraft facilities become unfair or excessive or your credit limit is extended by the lender without the proper affordability checks taking place. This often causes financial hardship or exacerbates existing financial difficulties.

If you believe that your bank did not conduct a proper affordability assessment or that you were unfairly charged for your overdraft usage, then you can make an unaffordable overdraft claim. By working with us, we can help you obtain a refund of the excessive fees you’ve paid.

How to qualify for an unaffordable overdraft claim

Qualifying for an unaffordable overdraft claim depends on your circumstances, which is why we will match you with a specialist claim partner who will manage your case and provide you regular updates throughout the process.

Generally speaking, the onus falls on the bank to ensure that you’re using your overdraft facility correctly. If you aren’t, then you might be eligible for a claim. Below are a few different ways to qualify for an unaffordable overdraft claim if you’ve had an overdraft for an extended period:

  • Your bank set you an overdraft limit that was too high
  • The bank didn’t notice you were in financial difficulty
  • You have direct debits or standing orders unpaid
  • You’ve got other debts with the same bank
  • You’ve been rejected for loans or credit cards from the same bank
  • Your credit score is in decline
  • You’re utilising payday loans to pay debts
  • There’s a noticeable reduction of income going into your account

Did you know?

Making an unaffordable overdraft claim won’t impact your credit score external link icon white

This isn’t an exhaustive list though, so you may still be eligible to make a claim if this doesn’t apply to you. To find out more, contact us at Claims Bible today.

Start your bank overdraft claim today

Complete the claim form and check your eligibility today. Safe, secure and confidential. Apply online in minutes

Common questions

What evidence do you need to make an unaffordable overdraft claim?

There are a few pieces of evidence that can really help your unaffordable overdraft claim, but the most important thing to have is your contract. This will outline the terms of your overdraft and can help show how it has impacted your financial situation. Other key pieces of evidence that can help include your credit score and your bank statements, as these offer details about your financial history while you had the overdraft.

How long does the process take for an overdraft claim?

Unaffordable overdraft claims don’t have a predetermined timescale, as it works on a case-by-case basis. Rest assured that when you work with our claims partners, we focus on closing the claim as quickly as we can to get your money to you in the shortest time frame possible.

How far back can you claim unaffordable overdraft fees?

The standard timeline for claiming historic overdraft fees is 6 years, so you’ve got a lot of time to make your claim.

How much could you get for a bank overdraft claim?

As with any financial loss claim, the amount you can potentially claim back depends on how much money you have lost to your unaffordable overdraft. There’s no lower or upper limit to this, which is why it’s important to have an expert like Claims Bible there to help you get the most out of your claim.

It’s worth noting that if you make a claim through the Financial Services Compensation Scheme external link icon light blue there is an upper limit of £85,000 that you can claim.

How far back can you claim unaffordable overdraft fees?

The standard timeline for claiming historic overdraft fees is 6 years, so you’ve got a lot of time to make your claim.

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Choose claim

Choose from the different claims below. You can either visit the page to read more about the claim or submit your claim straight away.

Natwest

Claim compensation for a Natwest overdraft that was unaffordable.

RBS

Claim compensation for a RBS overdraft that was unaffordable.

Lloyds

Claim compensation for a Lloyds overdraft that was unaffordable.

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