Since 2021, bank customers have been able to recover account fees that are too high. According to a survey, very few people do that. This is how you get your money back.
It was a ruling that benefited consumers across Germany. In 2021, the Federal Court of Justice (BGH) decided that banks are only allowed to increase their account fees if account holders actively agree to this (ref. XI ZR 26/20). Customers whose account fees were increased in previous years without consent therefore had a basis to claim these fees back. Actually.
Three years later, it turns out that only a few bank customers insist on a refund of the fees – and thus give away cash. A representative survey by the comparison portal Verivox showed that only one in ten bank customers took advantage of this option. The fees rose by around 40 percent nationwide between 2018 and 2021.
Many people don't know the verdict
There are many reasons for not requesting reimbursement. According to the evaluation, around 43 percent of those surveyed did not even know the verdict. Of the remaining participants, a quarter said that the effort was too much for them. One in eight people were not sure whether the verdict applied to them.
Some of those surveyed were afraid of a legal dispute or worried that a recovery could strain the relationship with the bank or that the bank could terminate the account. Finally, some survey participants also believed that the reimbursement amount was too low.
Reimbursement for savings bank customers
Anyone who wants to reclaim fees can still do so today. However, bank customers should be patient. A lawsuit brought by the Federal Association of Consumer Organizations (VZBV) on behalf of customers of Berliner Sparkasse has only now come to a provisional conclusion.
At the end of March, the Berlin Court of Appeal decided that the Sparkasse must reimburse 1,200 customers for unlawfully charged fees retroactively until 2018 (ref.: 26 MK 1/21). However, the parties are appealing: the case will therefore end up back at the BHG.
How to claim back bank fees
If you want to know whether your bank has increased fees in recent years, you can request a so-called statement of fees. Since 2018, banks have had to provide this once a year. Please refer to Section 10 of the Payment Accounts Act (ZKG) in your inquiry.
If you find that fees have increased, you can write to your bank and request a refund with reference to the BGH ruling. Please specify the exact amount you would like to have reimbursed. The consumer advice center provides you with an interactive sample letter for this purpose.
If your bank threatens to terminate your contract, you can contact the consumer advice centers. The VZBV is currently examining further legal action against banks if they reject legitimate claims from customers.
