Retrieving Money for Unfair Bank Charges: How Long Do You Have?
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Banks and savings banks in Germany have been charging questionable fees for quite some time, but consumers might finally be able to recoup a portion of those charges, thanks to a landmark ruling by the Federal Court of Justice (BGH) three years ago. But for how long can customers claim their money? That question has now been answered.
After the 2021 BGH ruling, many customers were able to reclaim those unlawfully charged fees. However, initially, it was uncertain when these claims for reimbursement would expire. The Consumer Association sought to argue in court that the limitation period of three years would only begin when consumers learned of the clause's invalidity, at the earliest with the 2021 ruling.
But the BGH took a different position. Knowledge of consumers about the clause's invalidity is not necessary for the limitation period to begin. Since there was no legal ambiguity around the effectiveness of these clauses, customers could have initiated a lawsuit even before the 2021 BGH decision. What truly matters is when the claims arose.
Source: ntv.de, awi/dpa
- Judgment Analysis
- Bank Account Fees
- Consumer Protection
- Legal Rulings
- Financial Institutions
- Consumer Associations
- German Law
Enrichment Insights:
The BGH has ruled that charges by banks or savings banks that were made based on inadmissible consent clauses in their terms and conditions are invalid. The court declared such clauses inadmissible in April 2021, which allowed many customers to reclaim fees they had payed unlawfully[1]. Typically, the statute of limitations for claiming reimbursements under German civil law would range from three years from when the claimant becomes aware of their rights to ten years from when the claim arose, depending on the situation[1]. To determine the specific timeframe for recouping unlawful bank charges, it is recommended to consult with a legal expert or review the relevant provisions of the German civil code.
The Community policy on consumer protection includes provisions for recouping unlawful bank charges, given the BGH's ruling on inadmissible consent clauses in bank terms and conditions. Financing this process might involve seeking vocational training in business law to navigate the complexities of financial institutions and German law effectively.
