When you do something that your bank doesn’t like – overdraw your account, for example – the bank generally charges you a fee as a penalty for doing that. It’s accepted and expected practice, and there really isn’t much that you can do about it. Banks have to spell out these fees and let you know that they will be taking place, and once they do that they don’t have to remind you again unless they change them for some reason. There are, however, some bank charges that are really not fair and that are not clearly spelled out.
If you’ve been a victim of these, you may deserve a refund. Bank charge refunds are the return of these fees to your account. You can’t expect every bank charge to be returned to you, though, because some of these charges, fees, and penalties are completely legitimate. If they are charges that the bank has spelled out and that you agreed to when you opened your account or at any time since you can’t have them refunded just because you don’t like them.
The refunds are designed to correct unfair bank charges. Some banks do try to charge for things that they shouldn’t be, and they also do try to charge too much for the things that they can legitimately charge a fee for. When they do this most people just pay the charges because they assume that they can’t do anything about them. However, they can do something if these charges weren’t warranted. They can have them refunded.
It might not be the easiest thing to get, though, because banks don’t want to admit wrongdoing or give back money that they’ve already gotten. They don’t have a choice when their bank charges are unethical or when they didn’t notify the people that they charged that these fees would be there. If you’ve been the victim of unfair bank charges make sure that you take the time to research what your bank really can and cannot charge and then work to get a bank charge refund. You shouldn’t have to pay fees that you don’t really need to pay.