Do you guarantee we will win?

No, recovery is neither guaranteed nor certain. Until a definitive and binding judgement has been delivered it is always a possibility, although unlikely, that a lower court could rule against us. If that did happen you would pay us nothing.

If I have already closed the account, can I still register with you guys and claim back from the bank those penalty charges?

Yes. Closed accounts are included in the service

Do they really pay up?

Yes. Follow the links to the testimonials pages. Or, the links page and view the BBC to see how they have been doing this for years in the UK. Different country - same basic laws.

Why do you need my bank details?

We will need your BSB and Account number. This is to identify you to the bank. Without this information it is impossible to make a claim. Since we won't know where to send our Notice of Demand. Even if you tell us where you bank, without the account information they would not be able to identify you.

Will it go to court?

Experience overseas suggests that whilst some financial institutions threaten to go to court, in nearly all instances they end up settling out of court, even though they may force the customer to issue a summons in order to test out whether the customer is serious.

Our experience in Australia is still evolving. All successful claims to date have settled out of court without the need to issue a summons.

Will the bank close my account?
 

You have a legal right to claim your refund. However, it is possible the bank could take action, so this is something you should consider. If in doubt, just open an account at another bank in anticipation.
 

Confidentiality?

Some banks/credit card companies whilst agreeing to refund the penalty charges at the same time, as a condition of settling "out of court" demand that the customer signs a confidentiality agreement. It is a matter for you whether you agree to do so. But if you refuse, you take the risk that the offer to settle out of court might be withdrawn and the matter be forced to go to court.
 

Who can claim these fees?

Anyone. Businesses, students, teachers, private individuals, farmers, builders,  If your account has been charged a penalty then you have a legitimate claim.

What will it cost?

Our fee is a one off admin fee of $10 and 15% of the reclaimed amount subject to a minimum of $50. If a summons is issued you will need to pay the issue fee of $101 to the solicitor. When you get your refund this is added to the amount paid to you.
Our agreement with the solicitor ensures your claim for penalty fees is handled on a no win no fee basis, however, consequential claims for other matters are at his discretion and may or may not be accepted on a no win no fee basis

Can you claim ALL the charges?

No.

Only "Penalty Fees" can be reclaimed. Account fees, ATM fees and other regular payments are agreed when you open your account and are not penalties.
Examples of fees that are considered to be “penalty fees” and can be claimed back for the past 6 years include:

Periodic payment and direct debit dishonour fees
Cheque dishonour fees
Overdrawn account (honour) fees
Deposited (inward) cheque dishonour fees
Credit card late payment fees
Credit card over-the-limit fees

Do you need my statements?

If you have calculated an accurate list of fees you can upload this when you register your claim, which will speed up the process. Otherwise, our solicitor will use other methods to find out how much is due to you, so we do not ask for statements.

Can other banks find out and then choose to reject you as a customer?

Unlikely, I think this would be viewed as unethical by the bank regulators since you have a legal right to take action.

Can you outline all your commissions and costs involved in pursuing the matter.

15% or $50 - whichever is the greater and a one off admin fee of $10

Are there other costs that may be incurred from other sources?

Other than the $101 filing fee which you will get back when we win there are no other fees or costs. If it becomes necessary to issue a summons the solicitor will explain any other liabilities there might be as a result, before issuing the summons and you decide whether or not to proceed.

How is the commission paid to you? How is the refund paid to us?

The bank sends the refund to the solicitors trust account including his fees. He would then deduct our 15% commission and forward the balance to you. Some banks split the payment. They will send the solicitor his fees separately and send the refund direct to you. If so, you would then have to forward our fee to the solicitors trust account.

Approximately how long does the process take?

Hard to say. In most cases 8-12 weeks

Is it really no win/no fee, or are there administrative or other hidden costs?

Yes it is. There are no other costs involved to Bankbeaters or the solicitor.

How secure will our details be kept?

Your details are kept private and confidential

When approaching the bank on our behalf do you only request a record of the penalty amounts incurred by each account over that period of time, or do you receive access to other financial information?

Once you register, the solicitor is the only person to see the results of his request to the bank. No one from Bankbeaters has access to the reply from the bank. The solicitor only asks the bank for a list of exception fees and nothing else. The solicitor or Bankbeaters has no other access to your accounts

Over the course of events how much do you/others get to know about our overall financial situation?

Nothing other than the list of exception fees. We do not ask for statements.

What are the benefits of using your services over pursuing the matter independently?

You get the services of a solicitor/barrister without any upfront fees. When we win his fees are paid by the bank. If we don’t win (never happened yet) you owe him nothing. He is also very well informed on the law in this area whereas any other solicitor would probably have to research the subject first, which would be another added cost to you.