The Legal Premise

Under Australian law any penalty charges which your bank issues have to fairly reflect the cost to them. In other words, the bank must not make a profit from penalty charges.

Many banks haven't been operating according to this rule. Some have charged as much as $50 for exceeding your overdraft limit, much more than the cost to them.

If you have paid these unfair charges to your bank you can claim back all the money they took from you unfairly in the past six years. For many people, the amount the banks have charged to them unfairly runs into the hundreds, if not thousands, and is well worth claiming back.

Do not fear lengthy and costly court battles as most banks will do all they can to prevent the matter reaching court. Don't be put off by the complexity of claiming back this money as Bankbeaters are here to help.

In many cases, your bank will extend to you a partial offer. A partial offer is exactly that, merely a proportion of the money you're owed. Our 'no win, no fee' solicitor will be available to provide you with advice regarding any offer you may receive.

If you're thinking about pursuing a claim against your bank for unfair charges, don't hesitate. The longer you wait, the less money you will potentially receive, as you can only claim back for the past six years.

You can start proceedings by going back over past statements and working out how much your bank owes you. If you don't have six years worth of past statements, you can write to your bank or visit them and request copies of your past bank statements.

In many cases, you can download your transaction history using Online Banking.

After working out how much your bank owes you, transfer this information to a spreadsheet and upload to

.http://www.bankbeaters.com.au/the_process/resources/file_upload

As a final resort we may have to take the case to court. However, experience suggests this is extremely unlikely as the cost to the bank of going tocourt will be far higher than any compensation they owe. The publicity that a court case would attract would cause great damage to the banks reputation also.

After You Have Registered

The first stage is for a lawyer, acting on your behalf, to send the bank a Notice of Demand to request payment of your refund. Your Bank might or might not pay at this time, this is a policy decision for your Bank.