Penalty charges are charges levied to a customer’s account when they have gone over their agreed limits; however these charges are often excessive and do not reflect the true costs incurred by the bank or credit card company.
Why not request our FREE no obligation claim pack by clicking
here.
Bank-Smart currently offers claims management services for the following claim types:
Personal bank accounts
Credit card accounts
Mortgage accounts
Business accounts/credit cards
Loan accounts
Store cards
PPI (payment protection insurance)
Mortgage protection insurance (MPPI)
Council tax rebates
GAP insurance
Credit/HP policies
Personal injury
Extended warranties
Whole of life policies
Business gas meter overcharge refund
CIS refund
Mileage refund
Expenses refund
Mechanics refund
Prepay electric meter overcharge refund
Home gas bill overcharge refund
Mobile phone insurance mis-selling
Secret commission
Care home fees refund
Endownment Complaint
Unenforceable loan/credit card
Flight delay/cancellation
Mis-sold pension
Mis-sold timeshare
Mis-sold investment/bond
Mis-sold mortgage
Why choose Bank-Smart?
In 2006 Bank-Smart became one of the first claims management companies to deal specifically with the reclaiming of penalty charges and mis-sold financial products.
Since then we have taken on a claims portfolio approaching £150,000,000.00 in claims and have continued to grow from strength to strength. We receive consistently favourable reviews and client recommendations currently account for over 80% of our new business.
Utilising some the world's most highly skilled analysts and programmers we have developed one of the most efficient and effective claims management processing systems
of any claims management company in the UK. To view a demo of our online claim monitoring system, click
here*.
At Bank-Smart we manage your claim for you, we are able to manage your claims and from start to finish and have the banks return your money for up to the last six years.
To sign-up with Bank-Smart, click the 'Apply Now' button at the top of the page and let Bank-Smart get to work in reclaiming your financial and other claims.
Bank-Smart are regulated by the Ministry of Justice in respect of claims management activities and registered with the Data Controller reference number Z9702452.
*Actual terms and content may differ from the demo
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Personal bank accounts
Unfair personal bank account charges have been imposed on millions of people throughout the UK.
Bank-Smart are experts in reclaiming client’s 6 years worth of unfair charges with interest. We have recently helped Mr & Mrs S to claim a staggering £17,837 in court on just one of their claims.
The legality of personal account charges has been dropped by the Office of Fair Trading. Bank-Smart can still process your claim and demand a refund of charges, particuarly where you can demonstrate financial hardship. If your claim is lost in court or rejected by the Financial Ombudsman Service Bank-Smart will not charge you a fee.
However, the recent news should not put off customers from reclaiming their bank charges. You can only reclaim the last six years of charges and should you wish to secure your older charges, it is crucial that you contact Bank-Smart to calculate your charges and make a formal complaint NOW.
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Credit Card accounts
On 5th April 2006, the Office of Fair Trading stated that credit card default charges have been set at a significantly higher level than is legally fair. The OFT has estimated that across the industry this has led to unfair penalty charges charged on credit cards, currently in excess of £300 million a year.
Where credit card default charges are set at more than £12, the OFT will presume that they are unfair.
Bank-Smart are able to negotiate with the credit card companies, taking them to court if necessary, and reclaim your charges.
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Mortgage accounts
If you have incurred penalty charges and late payment fees on your mortgage Bank-Smart can help to get these charges returned to you. Not only penalty charges but exit fees as well. Over the last five years, mortgage lenders have been increasing their Mortgage Exit Administration Fees (MEAF) and levying excessive penalty charges to mortgage accounts where a missed repayment has occurred.
If you are one of the 12.5 million people in the UK that have switched mortgages lenders in the last five years, you have probably been charged a mortgage exit fee and may be eligible for a refund.
The FSA has stated “if a past customer who has paid a higher fee to exit complains, he or she can expect a refund of the difference between the actual fee paid on exit and the original fee quoted”.
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Business accounts/credit cards
Your business could be entitled to reclaim thousands in unfair bank and credit card charges. Research by Business Moneyfacts has found that even though the 2002 Competition Commission carried out an investigation into unfair bank charges, there had been an increase in the costs charged to small and medium-sized enterprises (SME).
Bank-Smart are experts in helping small businesses recover unfair charges and can help you providing your annual turnover is less than £1 million. There is currently no delay in processing business accounts or credit cards. If you have a business account or credit card with penalty charges, click the 'Apply Now' button at the top of the page and let Bank-Smart get them back!
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Loan accounts
Banks have been levying excessive penalty charges to loan accounts, where for example, a missed repayment has occurred or you have made a late payment. As with bank accounts and credit cards these charges can be unfairly high and we want to help you get them back. All it takes is your signature on a simple form and we will do the rest. Please ensure that you have checked your loan account and that there are penalty charges to reclaim. Please ensure that your loan has penalty charges as it is not unusual for loan providers to debit the penalty charges from your current account which may result in a minimum fee invoice being issued if no charges are found on your loan.
Bank-Smart are able to negotiate with your loan provider and reclaim your charges.
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Store cards
If you have been levied a penalty charge for an arrears letter, missed repayment or late payment fee on your store card, you may be eligible for a refund. As with all claims, simply apply online and we will send you the documents that require your signature within 24 hours.
Bank-Smart are experts in reclaiming store card penalty charges and have a proven track record in professional and efficient claims management.
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Payment Protection Insurance (PPI)/ Mortgage Protection Insurance (MPPI)
It has been estimated that the payment protection insurance (PPI) business has an estimated 20 million policies in force and produces annual revenue in excess of £5 billion.
The mis-selling of PPI by banks and insurance companies has been a huge problem for many years. The Citizens Advice Bureau (CAB) have called it a ‘Protection Racket’ and has made a ‘Super Complaint’ to the Office of Fair Trading.
If you feel you were mis-sold PPI, also called personal loan protection, credit card payment protection, mortgage payment protection insurance or accident, sickness and unemployment protection, you can make a claim for compensation and could be awarded for the premiums you have paid, often amounting to thousands of pounds.
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Council Tax Rebates
The current council tax bands were assessed on April 1st, 1991. Unsurprisingly, many of these assessments are out of date and in a lot of cases, were inaccurate in the first place. Once we have received your completed authority form we will hand
your claim to our team of experts who will investigate your current council tax banding and determine whether or not there may be a case for a refund. If you agree, we will prepare your claim documents and progress your claim for a refund.
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GAP Insurance Policies
GAP insurance policies are generally sold alongside car finance and can often be unwanted, not required and in many cases, not even valid. Many car owners have been sold expensive GAP insurance policies without even knowing that it was being added to their car finance loan or have been unable to claim in the event of an accident. Where you believe that you were mis-sold a GAP insurance policy Bank-Smart can claim
for a refund of policy premiums on your behalf, produce all the required documentation to progress your claim and manage the entire process from start to finish. Policy premiums of £4,000+ are not uncommon.
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Credit/HP Agreements
Credit/HP (Hire purchase) agreements can often produce penalty charges in the same way as credit cards and bank accounts. Where you believe that you have been charged excessive late payment fees, returned cheque fees or charges for failed direct debits Bank-Smart
can prepare your claim and manage the process from start to finish. Don't forget that you can check the status of all your claims at anytime by logging into the secure online Bank-Smart client area of the website.
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Personal Injury
If you have suffered an injury in an accident, however minor or major your injuries, then maybe you
should consider the possibility of making a personal injury claim. Personal injury claims can be complicated,
time consuming and may require an understanding of the law but with the help of specialist solicitors the process can
be made much simpler, easier and takes the pressure off you to produce the documents required to complete your claim for compensation. Bank-Smart can put you in contact with authorised
solicitors who are trained and specialised to help with your particular personal injury claim,
taking away the pressure of finding a qualified and suitable solicitor yourself. If you have any queries regarding
the submission of a personal injury claim please do not hesitate to contact a claims advisor by emailing
claims@bank-smart.co.uk.
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Extended Warranties
Extended warranties are often overpriced, difficult to claim on and can be sold using high-pressure selling tactics.
If you have been sold extended warranties costing over £250 each and you believe that these may have been mis-sold
you could be due a refund. To request a no obligation claim pack simply go to the Apply Now page and complete the short online form.
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Whole of Life Policies
Have you been mis-sold your Whole of Life Insurance Policy?
Whole of life Insurance and Investment linked policies can be expensive
and as policies age premiums can increase significantly. Many consumers
are unaware of these increases at the time the policy is taken out and
the need for increased payments can cause problems after
significant sums of money have already been paid into the policy. Many providers
will stop your policy if you fail to keep up repayments and your premiums could be lost.
If you are struggling with repayment due to increased premiums that were not made clear at the
start of your policy, you may well have been mis-sold the product and may be due a refund or compensation.
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Business Gas Meter Overcharge Refund
Does your home or business use gas and pay by meter? If yes, you could be due £1,000's by way of refund if your gas company has mis-calculated your bill.
You may be eligible to claim if you have had a business gas bill containing a meter reading that was issued in the past six years. We simply need a copy of a recent bill
and some basic details from your meter. We will asses your claim and negotiate a settlement with your gas supplier.
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CIS Refund
and not submitted tax returns? If this applies to you, you may be interested to know that the average CIS refund is over £1,000.
If you have other years that you have been on CIS but not claimed please indicate this on the Bank-Smart CIS claim form so we can maximise the size of your refund.
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Mileage Refund
Do you use your own car for business and are not fully reimbursed by your employer. If the answer is yes, then you could be due a refund
in the range of £900 - £1,600 per 10,000 miles!
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Expenses Refund
Do you incur expenses or need to buy equipment to do your job and are not fully reimbursed by your employer. If the answer is yes, then you could be due a refund
in the range of £150 - £400 for every £1,000 spent!
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Mechanics Refund
Do you buy your own tools for your work and your employer has not reimbursed you?
If this applies to you and you have spent more than £2000 in total since you started buying your own tools
you could be due a refund. The average mechanics refund is £800.
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Prepay Electric Meter Overcharge Refund
Do you pay your electric using a pre-paid key or similar. You will have been charged a penalty for not paying by direct debit and we are able to asses your claim and may be able to get the overpayment refunded.
You are eligible to claim if you have been paid an electric bill in the past six years by pre-pay or pre-pay key for key meters.
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Home Gas Overcharge Refund
Do you use gas and pay by meter? If yes, you could be due £1,000's by way of refund if your gas company has mis-calculated your bill.
You may be eligible to claim if you have had a gas bill containing a meter reading that was issued in the past six years. We simply need a copy of a recent bill
and some details from your meter. We will asses your claim and negotiate a settlement with your gas supplier.
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Mobile phone insurance mis-selling
Mobile phone insurance policies are often overpriced, difficult to claim on and can be sold using high-pressure selling tactics.
If you have been sold mobile phone insurance having paid over at least £250 over the past six years each and you believe that the policy may have been mis-sold
you could be due a refund. To request a no obligation claim pack simply go to the Apply Now page and complete the short online form.
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Secret commission
Where a loan has been provided by a broker they will be treated as an agent of the borrower. The broker owes a fiduciary duty to their client including not to make a secret profit.
A 'secret' commission by a broker can be a type of fraud by the broker and the lender who paid the secret commission and we may be able to retain this on your behalf. Secret commissions
can often be in the region of 5% of the loan amount. If the figures on your loan document show a secret commission was paid but this was not made clear to you we may be able to recover
the secret commission and have it returned to you. If you are submitting a payment protection insurance (PPI) claim for the same loan you do not need to request the secret commission to
be recovered as we will attempt to reclaim this for you as part of our PPI reclaiming service.
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Care home fees refund
If you or a member of your family has had to pay towards care home fees you could be entitled to a refund worth thousands. Refunds can be anything up to £300,000 and refunds of £100,000 are not unusual.
Where patients require 24 hour care you are likely to be eligible for funding from the Primary Care Trust or your Local Health Authority. If this was not the case then we may be able to obtain a refund for the fees paid plus interest. Request our no obligation claim pack by clicking the Apply Now button at the top or bottom of this page.
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Endowment Complaint
If you believe that the adviser who sold you your policy did not make sure that an endowment was the best way of repaying your mortgage depending on your financial circumstances at the time and your exposure to risk for any of the following reasons:
- The risks of an endowment policy were not fully explained to you and how the money was to be invested
- Options for repaying the mortgage were not fully discussed
- It was not checked that you were satisfied with the risks of stock market investment. They should have explained that the amount you would get back depended on the performance of the policy.
- They may have said the policy was guaranteed or implied that it would definitely pay off the mortgage in full. You may have a complaint if you can prove this in writing - if you have no written evidence include it in your complaint anyway as this may imrpove your chance of a successful complaint
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Unenforceable loan/credit card
If you have a loan or credit card that was taken out before April 2007 and was for less than £25,000, you may be able to have the the balance deemed as unenforceable where that are missing required terms. An agreement may be unenforceable, for example, if it does not state the amount of the credit, if there is no interest rate on the agreement, if the number of instalments to be paid is not shown, or if it is not signed. Assessing whether your credit agreement is unenforceable or not is a complex legal process. With the help of expert solicitors, we can determine whether your agreement is valid, and negotiate for the balance to be deemed unenforceable. Bank-Smart will review your contract free of charge and only charge a fee if your agreement is deemed unenforceable. For further details of the affects on unenforceability claims please see the guidance notes on the OFT website
here.
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Flight delay/cancellation
If you have had a flight delayed for 5 hours or more or your flight was cancelled we may be able to secure compensation for you of between £200 and £600 per passenger. If your flight for a family of 4 was delayed over 5 hours or cancelled by the airline that could be compensation of over £2,000 that you could put towards your next holiday! For further information request our no obligation claim pack by clicking the Apply Now button.
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Mis-sold pension
If you were advised to take out a personal pension between 1988 and 1994 rather than the State Earnings Related Pension Scheme then you could be entitled to compensation relating to the difference in value of your personal pension in relation to the state pension. Up to 5 million people could be entitled to claim the difference back today! If you believe that your pension has been mis-sold request our no obligation claim pack today.
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Mis-sold timeshare
There are strict rules and guidelines for the selling of timeshares and often these rules are not followed during the high pressure selling of timeshares. If you did not receive a prospectus, you did not receive a minimum 10 day cooling off period or you paid a deposit during the cooling off period you could be due substantial compensation even if the timeshare company is no longer trading. Why not request our no obligation claim pack today for further details.
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Mis-sold investment/bond
Are you one of thousands of people who have been mis-sold an investment or bond? If you were not advised that your investment/bond could lose money, or if you requested a low (or no) risk investment and were given one with a high risk, you may have been mis-sold your investment. If the policy was not suitable for you, or risk was not discussed, you may also be entitled to compensation. There are a number of rules your advisor should have followed when selling you your investment; if they broke the rules, you could be entitled to claim thousands in compensation. Request your free, no obligation claim pack today if you believe you may be due a refund.
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Mis-sold mortgage
Was your mortgage taken out through a mortgage broker, mortgage advisor or mortgage lender? If the answer is yes and you are unhappy with your mortgage or the way in which it was sold we may be able to secure compensation even where your home as been reposessed. If you have suffered as a result of the mortgage provided to you, possibly by an advisor paying more attention to his/her own commission rather than what is best for you, then apply for our no obligation claim pack today and see if Bank-Smart can help recover compensation on your behalf.
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To see a demo of the online claim account system, click
here.
If you have any further questions please don't hesitate to contact us using the
email address below. We aim to answer all emails within 24 hours and are
always happy to help, whether you choose us to claim back your penalty charges or
not.
If you are unsure as to which charges can and cannot be reclaimed please email a claims advisor before submitting your application using
claims@bank-smart.co.uk.
Bank-Smart are regulated by the Ministry of Justice in respect of claims management activities, authorisation code CRM4036.
E-mail:
info@bank-smart.co.uk