Claim Before It Is Too Late
Overdraft Refund Calculator
The calculator below gives an idea of how much you will potentially be refunded with a claim due to interest charges. Any compensation paid would include an extra statutory interest on your refunded payments, which is not included in the calculation below. The actual compensation you receive could be substantially more, especially with old loans.
Use this loan interest calculator to give you a quick estimate of how much compensation you may be eligible to claim from a mis-sold loan. The calculator is intended as a guide only and is not a confirmation that a refund is due.
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Check Eligibility
Starting a claim is simple. With just a few details you can start your application.
Simple Process
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Get Paid
You are only charged after the claim has been won and you have your refund!
We are a claims management company and receive payments from our partnered firms for our services. You do not need to use a claims management company to make your complaint to your lender or the Financial Ombudsman for free.
Overdraft Claims and Refunds
Overdraft refund claims are growing fast in the UK, with potential compensation running into billions of pounds.
Our research shows that overdraft refunds could rival the scale of car finance claims, as millions of customers were charged long-term fees on overdrafts that were never meant to be permanent borrowing tools.
Were You Given an Overdraft That Wasn't Suitable?
Millions of people in the UK use overdraft facilities. But for many, an overdraft was not right for them. In these cases, their bank may have acted irresponsibly when providing an overdraft or increasing their limit.
Overdrafts Should Be Short-Term - But Often Aren’t
An overdraft is meant for short-term borrowing. Banks should only approve limits you can repay quickly, while still affording your normal living costs.
However, the Financial Conduct Authority (FCA) found that many customers (including Barclays, HSBC, Lloyds, Nationwide, and others) are left using overdrafts long-term, often paying charges for months or even years.
Banks Should Not Keep Extending Overdrafts
When banks see customers repeatedly using overdrafts, they are expected to review their affordability. If your borrowing continued for a prolonged period, they should not have extended your limit or continued charging high fees.
You Could Be Owed Money Back
If your bank - whether Barclays, HSBC, Lloyds, or others - gave you an overdraft you couldn't afford, you may be entitled to reclaim interest and charges. Many people have already received £1,000s in refunds, and industry experts predict this could become one of the next major UK financial redress waves..
Be aware, there are statutory deadlines, known as limitation periods, that apply to mis-selling claims.
No Win, No Fee
You are only charged after the claim has been won and you have your refund! The success fee is calculated as a percentage of the total compensation you receive. If our claims partner is not able to obtain an offer, you will not be charged. You can read more about fees here.
If you cancel your agreement or break your agreement before the end of the process, you may be charged a cancellation fee.
Key Facts
We Maximise Your Compensation
We will review your previous borrowing and will advise which loans you can get refunded and handle your claim.
Millions Refunded
By helping borrowers make claims for various loan types we have refunded millions to our customers.
Largest Payout Is £6,000
The size of claims varies. One individual was refunded £6,000 after using our services.
Who Can Claim An Overdraft Refund
Anyone can look into making a claim, especially if you’re struggling. You have the potential for a successful claim if:
Your were in overdraft for a long period of time, and your bank never offered you a more suitable form of borrowing
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you’re in real financial hardship - for example, if you’re struggling to buy necessities and pay bills, or you’ve lost your job
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the charges are unfair compared with what you did – for example, if you went overdrawn £1 and were charged £35
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you’re stuck in a spiral of charges – this might happen if the charges keep putting you into the red, and the overdraft keeps costing you more in charges.
Remember you don't risk anything, we work on a no win no fee basis. Also, your lender won’t penalise you as you can't be treated differently for complaining.
If any of the above statements apply to your experience, you could be eligible for a refund.
Maximise Your Compensation
After obtaining a credit report, Claims handlers review your previous borrowing and can help you claim from lenders.
Your complaint is handled by professionals
Your claim will be handled by an experienced team, who will complain to your lender on your behalf.
Reclaimed funds to be Transferred
After a claim is successful, the redress money is transferred straight to you.
FAQs
How much compensation can I get from an overdraft claim
There are FCA guidelines that guide the amount of compensation claimants could receive from a UK overdraft claim. If your overdraft was unaffordable or irresponsibly lent, you may be entitled to claim compensation that includes:
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A refund of overdraft charges and fees that were unfair or excessive
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A refund of interest applied to your overdraft balance
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Statutory interest added to your compensation
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Corrections to your credit report if your overdraft negatively affected your credit score
As many UK customers have relied on overdrafts for prolonged periods of time, refunds can be in the thousands of pounds.
How long does it take to get an overdraft refund?
The rules state that a lender has 8 weeks to reply to a complaint; however, sometimes lenders do go over this deadline. If the complaint needs to go to the Financial Ombudsman because the lender is disputing it, then it takes more time for them to reach a decision. The time it takes for the lender or the Financial Ombudsman to come to a decision depends on the complexity of the case and how busy they are. Some people are fortunate and have their claim accepted and a refund paid within a couple of months. Others take much longer.
Why Use The Claims Guide For My Claim?
Help Maximising Compensation - Claims Handlers will go through your previous borrowing and help you claim from an extensive list of lenders. Other claims companies will more likely turn you away if you are not claiming against one of their few approved lenders.
We Make It Easy - Claiming a refund can be a daunting task. Make it easy and ensure everything you need is included, so you don't have to spend much time filling in forms and making legal arguments.
Professional - Each claim is different, and specific circumstances that are relevant to the claim can be explained by a professional. The Financial Ombudsman has previously been unable to progress some complaints that involved a “template” or “standard letter”.
Is there a deadline for starting my claim?
In most cases, you have up to six years from when you realised your overdraft was unaffordable - but earlier action gives a stronger chance of success.
How do I know if my overdraft was unaffordable?
If your bank increased your overdraft limit without checking whether you could afford to repay, or if you were regularly stuck in your overdraft for months or years, your overdraft may have been unaffordable. If you are unsure, we will assess your eligibility for you.
Which banks can I claim against for unaffordable overdrafts?
You may be able to claim against most major UK banks, including Barclays, HSBC, Lloyds, NatWest, Santander, Nationwide, and others, if the affordability rules were not followed.
Can I claim if I have already cleared the overdraft?
Yes. Even if your overdraft has been fully repaid and you no longer use it, you may still be able to reclaim unfair fees and interest charged while it was active.
How Much Will I Receive If My Claim Is Successful?
If you successfully claim a refund from a lender, you can claim back the interest and charges on your loans, plus, typically, 8% statutory interest. For more information on how this is calculated, click here.
What Information Do I Need to Provide?
You just need to provide the name of your lender and your personal details, including the address that you lived at when registering with them. Once you have given these, we can obtain details of any loans where a refund may be due.
Will making a complaint affect my account or credit score?
No. Banks are not allowed to close your account, restrict access, or penalise you in any way for making a complaint. Raising an affordability complaint also has no impact on your credit score, credit file or future borrowing.
How much will I be charged?
Claiming through our partners always works on a no win no fee basis, meaning you won't pay a thing unless you win compensation. You will have the right to cancel the agreement within 14 days with no penalty. If you cancel after 14 days, you may be charged for work done up until the time of cancellation. A breakdown of the fee structure can be seen here.
How Do I Submit My Claim?
Simply complete our online application form by clicking on the "Check Now" button. This is the first stage of your complaint to the bank, where you could receive compensation. For more information on the process, please click here.