Challenge the Bank: Why File A Claim?

In plain English...because banking regulations fail to protect YOU.

In short, consumers are losing control of their bank accounts through the convergence of electronic check processing, implementation of Check 21, bank overdraft practices, and delay in making deposits available to cover withdrawals. A fraction of bank customers pay the bulk of NSF and overdraft fees—often, low-balance account holders who can least afford penalty overdraft fees. This is a no-win situation for everybody—one that Challenge the Bank would like to encourage you to have a part in changing!

Challenge the Bank: How to File a Claim

You may think that it’s pretty well impossible to get a bank to pay attention to you...but think again.

Banks, as a whole, do not have the resources to effectively defend themselves against thousands of people filing small claims. They’re not set up as legal firms, after all, but financial ones. Generally, then, the result of a stack of small claims filings is a default on the defendant’s part: the bank sends no one to court, and at that point, you win. You do have a legal “leg to stand on” in this matter, even if the banking industry doesn’t police itself very well. (What organization ever does?)

Step 1: Request your Statements.

1. Use our letter Template to get your statements:
2. Call your bank and send our letter to your branch requesting your statements. Specify statements going back 6 years. If your account is no longer active, dispute charges going back at least 36 months.
   
   
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Step 2: Add all fees imposed when you had overdraft(s) together to get your total amount of claim.

Step 3: Fill in Refund Request Form [using the template] on the Challenge the Bank website, print it out, and mail it via certified mail. Request a fee refund that doesn’t exceed the limitations of Small Claims Court in the state in which you reside.

Step 4: File a claim through your local Small Claims Court.

Do it easily, though www.legalzoom.com. U.S. Law allows you to serve this claim on your bank’s directors, officers, managers, or even a teller of the bank branch where you opened your account. Make sure you follow through with this step. Once you’ve filed, you’ll receive a court date for approximately 30 days after filing. Be sure you show up on time for this court date and are prepared to explain your complaint to a judge (see Background above for hints on information to help you). Most likely, the bank’s directors will not attend court and you will win by default, but be ready to explain yourself in any case!

Step 5: Have a plan in place should your bank threaten to close your account.

We help you protect yourself by getting a new account set up.

We connect you to information on banks that have been vetted by Challenge the Bank and can be counted among the “good guys.”