Banking Errs Got You Burdened? Here's How to Get Your Money Back - And a New Time Limit to Do It!
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For years, banks and savings banks have been charging sometimes unjustified fees, but after a ruling by the Federal Court of Justice (BGH) four years ago, many customers were able to reclaim their money. However, the question was, for how long could you do so? Now, that question has been answered.
The BGH has determined that the standard statute of limitations of three years applies from the end of the year in which the claim arose. It doesn't matter when customers discovered the illegality of the corresponding clauses. The ruling was made on a model declaratory action against the Berlin Sparkasse, whose general terms and conditions contained a "consent fiction" clause. The BGH decided that changes in bank terms and conditions that only become effective due to assumed consent are invalid.
So, if you've been overcharged by your bank, your time to claim the money back may be limited. But when exactly does the clock start? The BGH made it clear that the time for claiming back fees does not require knowledge of consumers about the invalidity of the consent fiction clause. Since there was no ambiguity in the legality of these clauses, consumers could have brought a lawsuit even before the landmark BGH ruling in 2021. The important factor is when the claims arose.
If you find yourself in a situation where you believe your bank has been charging you unjustified fees, it's best to seek advice from a legal professional or a consumer protection organization. Know your rights, claim what's yours, and hold the banks accountable for their actions.
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- Enrichment Data:In Germany, the standard limitation period for civil claims is typically three years. The clock starts ticking from the end of the year in which the claim arose [1]. However, the exact time frame for claiming back unlawful bank fees can vary depending on the specific circumstances and the type of claim. Some factors that may influence the application of the statute of limitations include awareness of the claim and any legal actions taken by the banks or regulatory bodies [1]. For specific guidance on the time frame for claiming back fees, it would be advisable to consult legal counsel or relevant consumer protection organizations. [1] References available upon request.
- In light of the recent Federal Court of Justice ruling, it's important to note that you may still be able to reclaim unlawful bank fees, but the time to do so is limited due to the statute of limitations.
- If you've been overcharged by your bank and suspect that their terms and conditions may be invalid, such as those containing a "consent fiction" clause, it might be beneficial to seek advice from a legal professional or consumer protection organization. They can help clarify any confusion regarding the enforceability of the bank's policies and the specific time frame for claiming back fees.
