Can I get my bank to refund overdraft fees?

Unfortunately, many people are familiar with bank overdraft fees. It happens all the time. A slight miscalculation or perhaps an automatic payment that gets forgotten leaves your account just a few dollars short of a positive balance. Sometimes even cashiers punch in a wrong number by mistake and before you know it your checking account is in the red. 

Once you’re in the hole it can be incredibly difficult to get positive again. Some banks have made a habit out of boosting their profits with customer overdraft fees and refusing to refund them. Many consumers are left with no choice but to join an overdraft class action lawsuit to attempt to recoup some of the damages. Overdraft fees have a negative domino effect on your account. It seems like you’re never charged just once. 

Here’s what you need to know about an overdraft class action lawsuit and getting your bank to potentially refund unfair or excessive overdraft fees.

Did you sign an arbitration agreement?

Many banks have inserted an arbitration agreement into their checking account contract preventing consumers from pursuing an overdraft class action lawsuit for unfair fees. They often do this in hopes that consumers will drop the matter and just continue to pay the fees. Many banks have become quite accustomed to boosting their bottom lines with unfair overdraft fees from unsuspecting customers. 

Signing an arbitration agreement does not mean you have no recourse at all. It only means that you forfeit the right to pursue an overdraft class action lawsuit. The right attorney can help you recover your losses through private arbitration and charge the costs to your bank if the arbitration is successful. If you did not sign an arbitration agreement, a skilled attorney can help you pursue an overdraft class action lawsuit to recover damages from unfairly charged overdraft fees.  

Eligibility to Recover Bank Overdraft Fees

Banks unfairly charging overdraft fees has become a common practice and consumers often don’t realize they have any recourse. Unfortunately, the consumers who end up paying most of these fees are the ones who can afford to lose the money the least. Many Americans are eligible to make a claim without even realizing it. 

If you are currently a customer of the bank who charged you overdraft fees and your account has not been closed due to a negative balance, then you may be eligible to make an arbitration claim or join an overdraft class action lawsuit. If you have been charged unfair or excessive overdraft fees on debit card purchases within the last year, then you may be eligible. 

Hire a financial services attorney today. 

If you have been charged unfair or excessive overdraft fees on debit card purchases by your bank within the last year, seek the counsel of an experienced financial services attorney today. Whether you pursue arbitration or an overdraft class action lawsuit, the services of a skilled attorney who is well versed in financial law can help you recover damages. They will fight for your rights and help you navigate the turbulent waters of the legal system. Big banks don’t have the right to help themselves to your hard-earned money. Contact a financial services attorney today.