How to Get Your Money Back: Bank Customers Eligible for Refunds of Excessive Fees Since 2021

From 2021, bank customers have been able to reclaim excessively high account fees. According to research, very few people do that. Here’s how to get your money back.

It was a regulation that benefited consumers throughout Germany. In 2021 he decided Federal Court of Justice (BGH) that banks may only increase their account fees if account holders actively agree to this (Az. XI ZR 26/20). Therefore customers whose account fees were increased in previous years without permission had a basis to pay those fees back. Actually.

Three years later, it turns out that only a few customers of the bank ask for a refund of the fees – and thus give money. Representative man An opinion account of the comparison portal Verivox it showed that only one in ten bank customers took advantage of this option. The taxes rose by about 40 percent across the country between 2018 and 2021.

There are many reasons for not wanting a refund. According to the assessment, approximately 43 percent of those surveyed did not even know the decision. Of the remaining participants, a quarter said the effort was too much for them. One in eight people were not sure if the decision applied to them.

Some of those surveyed were afraid of a legal dispute or worried that a recovery could put pressure on their relationship with the bank or that the bank could close the account. Finally, some survey participants also believed that the reimbursement amount was too low.

Anyone who wants to claim back taxes can still do so today. However, bank customers should be patient. Lawsuit brought by the Federal Association of Consumer Organizations (VZBV) on behalf of Berliner customers Savings Bank just now reached a provisional conclusion.

At the end of March, the Berlin Court of Appeal ruled that the Sparkasse must pay back 1,200 customers for illegally declared taxes retroactive to 2018 (see : 26 MK 1/21). However, the parties are appealing: so the case will come back at the BHG.

If you want to know if your bank has increased fees in recent years, you can request a fee statement. From 2018, banks have to provide this once a year. Please refer to Section 10 of the Accounts Payable Act (ZKG) in your search.

If you see that fees have increased, you can write to your bank and request a refund in accordance with the BGH regulation. Specify the exact amount you want to be paid back. The customer advice center will give you one for this interactive letter sample available.

If your bank threatens to end your contract, you can contact consumer advice centres. The VZBV is currently investigating further legal action against banks if they reject valid applications from customers.