Bank fees such as overdraft and interest charges can wreck your finance management. Fortunately, you no longer have to wait for banks to take your money. Overdraft fees account for almost 30% of issues faced by consumers. Some banks provide overdraft relief programs.

However, you can also get overdraft fees refunded to you even without the relief programs. Getting overdraft fees back is more straightforward than you may think because banks would better waive a couple of dollars than lose customers. So, if you are wondering whether it is possible to get a refund on overdraft fees, the answer is yes. Here is how to get a refund on overdraft charges.

1. Understand how you got the Fee

An overdraft occurs there is no enough money in your bank account to cover a debit payment, ATM withdrawal, or money transfer. For example, if your account has $2 and you transfer $9, you will need to overdraft.

However, your bank must opt you into overdraft protection so that you can be able to overdraft. After the bank opts you in to overdraft protection, it can allow you to overdraft by loaning you the funds you need to make a purchase or transfer money. However, they will charge you a fee for the overdraft.

2. Summarize the Fees

Once you know how you get the overdraft fees, count up all the fees and other bank fees that you can find on your statement. You must prepare this information so that you can be ready to negotiate with your bank. Indicate the type of fee, the date the fee occurred, and the amounts.

3. Prepare a Transcript

Once your summary is ready, prepare a polite but firm script. Your script should outline all the fees the bank has charged you. Also, indicate that you have been a loyal customer and would like the bank to refund these fees. Mind your language, or go online and find a platform that automatically generates the script.

4. Contact your bank

Depending on your bank, you can either call or message the customer care services. Some banks provide their customers with a secure way to message them directly, while others will only accept fee refund requests over the phone. However, a message is the most accessible communication platform. Use the script you prepared to start the conversation.

5. Be Persistent

Once the bank representative replies to your message over the phone or messenger, stay persistent in your request. No bank will want to lose a customer because they know they spend a lot to get new consumers than giving you refunds to retain you. If unsuccessful with the bank representative, escalate your request to a supervisor. If you do not have a history of late payments, your bank will probably refund the overdraft fees.

Most banks refund overdraft fees. If you get a no on your first refund attempt, try telling your bank that you have been a loyal customer, and you wouldn’t want to lose that experience over an overdraft experience. Be firm but polite, and your bank will consider your request.