Reclaim Unfair TSB Overdraft Fees
Many people have paid significant amounts in overdraft fees to TSB over the years. If these fees caused financial hardship, were excessive, or led to a cycle of debt, you might be able to reclaim them. This guide will walk you through the process of challenging TSB's past overdraft charges.
Skip the writing, get your claim in 15 seconds.
We'll draft a firm, ready-to-send demand tailored to your situation. Free.
Build my claim →Your rights
Your right to challenge unfair bank charges, including overdraft fees, stems from the Financial Conduct Authority's (FCA) principles of treating customers fairly and responsible lending. While there isn't a specific 'Overdraft Fees Act,' the FCA expects banks to ensure their charges are fair and transparent, and that any lending, including overdrafts, is affordable and doesn't cause undue hardship. The Financial Ombudsman Service (FOS) is the independent body that can investigate complaints if you believe TSB's fees were excessive, disproportionate, or led to a cycle of debt, and can order refunds based on what is fair and reasonable.
Step by step
- 1Gather all relevant bank statements and correspondence from TSB showing the overdraft fees you wish to challenge. Highlight the specific charges and periods.
- 2Write to TSB's complaints department, clearly explaining why you believe the overdraft fees were unfair or excessive. Detail any financial hardship caused and refer to the FCA's principles of fair treatment and responsible lending.
- 3If TSB rejects your complaint or you don't receive a satisfactory response within eight weeks, escalate your case to the Financial Ombudsman Service (FOS). The FOS provides a free, independent service to resolve disputes between consumers and financial firms.
- 4Provide the FOS with all your evidence and TSB's final response. The FOS will review your case and make a decision based on what is fair and reasonable in your circumstances. Their decision is binding on TSB.
What they'll say, and your comeback
“The fees were clearly outlined in your terms and conditions.”
Comeback, While terms exist, the FCA requires charges to be fair and lending to be responsible. My claim is that these fees were disproportionate or caused undue hardship, regardless of standard terms.
“You agreed to the overdraft facility.”
Comeback, Agreeing to an overdraft does not mean I agreed to charges that were excessive or that contributed to a cycle of debt, or that the lending was always affordable for my circumstances.
“Your complaint is too old, we only keep records for X years.”
Comeback, The Financial Ombudsman Service can consider complaints up to six years from when you knew or should have known about the issue, or fifteen years from the date of the problem, whichever is earlier. I believe my complaint falls within these limits.
FAQ
How far back can I reclaim TSB overdraft fees?
Generally, the Financial Ombudsman Service can consider complaints about issues that happened up to six years ago from when you first became aware of the problem. In some cases, they may look further back if there's a good reason for the delay in complaining.
What kind of evidence do I need to provide?
You should provide bank statements showing the fees, any correspondence with TSB, and a clear explanation of how the fees impacted you financially. The more detail you provide, the stronger your case will be.
Ready to get your money back?
Reclaim it now, free →More money you might be owed
- UKChallenge your council tax band and reclaim overpayments
- PortugalReclamar uma cobrança indevida de serviços em Portugal
- UKEnergy back-billing: refuse charges over 12 months old
- UKDisputing a water bill overcharge and getting a refund
- UKReclaiming mobile roaming and out-of-bundle charges
- USDispute a Surprise Medical Bill (No Surprises Act)
A self-serve tool, not a law firm. General information, not legal advice.