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Terms & Conditions

This document supplements the Summary of Key Information and the Letter of Authority.

By signing this document and the Letter of Authority, you agree to the terms and conditions outlined in this document and the Summary of Key Information.

 

What We Will Do

We will gather as much information as possible about your situation and the loss of your money. In some instances, we may request documentation from you to support your claim.

We will assess the circumstances to determine if your case meets our internal criteria for pursuing a claim. If it does not, we will provide guidance on how you can pursue your claim independently.

If your case meets our internal requirements, we will proceed with the claim by filing a complaint with either your bank or the bank that received the disputed funds.

If the bank’s response to the complaint is unsatisfactory, we will escalate the matter to the Financial Ombudsman Service (FOS) and present why we believe you have been treated unfairly.

We will provide regular updates at key stages throughout the process and at least every six months.

 

How Long Will It Take?

We aim to progress your case as quickly as possible, though delays may occur depending on the specifics of your case, particularly if the complaint is escalated to the Financial Ombudsman Service. Indicative timelines include:

  • Stage 1: Information Gathering – Typically takes around 2 weeks. This is dependent on the completeness of the information you provide and whether additional documents are required. Often, we can proceed to the next stage once you’ve signed our terms and conditions.

  • Stage 2: Bank Complaint – Banks are required to respond within 15 days or up to 8 weeks, depending on the nature of the complaint. Some banks may take longer to reply.

  • Stage 3: Financial Ombudsman Service (FOS) – This process may take between 3 months and 2 years. Cases resolved at an early stage may take a few months, but if escalated to the Ombudsman for a final decision, the process could extend considerably, potentially taking years in rare cases.

 

How and When We Will Charge You

You will only be charged if your claim is successful, resulting in you receiving money back. If a bank refunds you, or the Financial Ombudsman Service issues a favorable decision, our fee will become due.

If you receive notification of success before us, you must inform us immediately.

If your success results in debt being written off rather than you receiving money, you will not be charged for the written-off amount. Additionally, we will not charge if you are insolvent and the funds are directed to a Trustee.

If you choose to use any refund to pay off existing debt, you are still required to pay our fees.

You are only required to pay once you receive your money.

In cases where refunds are received in stages (e.g., half from the bank, half from FOS), we will charge you each time a refund is issued, but the total will never exceed the agreed maximum fee.

 

What Is a “Successful” Case?

A case is considered successful if any portion of the funds lost to fraud are recovered from either the sending or receiving bank.

 

What Fees Do You Pay to Money Back Refund?

  • You pay 25% plus VAT if successful.

  • For larger cases, the fee is capped at £10,000 plus VAT. This means that if you recover £66,666 or more, the total fee will not exceed this cap.

  • No success, no fee.

  • You only pay once you receive the money. (See “How and when we will charge you” above for more details.)

 

How Are Fees Paid?

Fees are due once you receive confirmation that your case is successful. The fee is calculated based on the amount awarded by the bank or the Financial Ombudsman Service and must be paid within 14 days of receiving your refund.

Payment details will be provided for transferring funds to our account once your case is successful.

 

If You Do Not Pay

If you encounter difficulties in paying, please notify us as soon as possible. We will try to assist, but if no arrangement can be made, we reserve the right to take legal action to recover the amount owed.

 

General Information

Money Back Refund Ltd is a company registered in England and Wales.

 

Cancellation

You can cancel your agreement with us free of charge at any time, unless an offer of redress has already been made in your case. Once an offer is made, our fee will become payable. To cancel, contact us by phone or email using the details below.

 

Making a Complaint

At Money Back Refund, we value your feedback and are committed to improving our services. If you wish to file a complaint, you can contact us via phone, in writing, or by email. We aim to respond promptly and will acknowledge your complaint within three working days. If you are dissatisfied with our response, you can escalate your complaint to the Financial Ombudsman Service at Exchange Tower, London, E14 9SR.

 

Data Protection

We handle your data in accordance with the General Data Protection Regulation (GDPR). Your data will be used solely for managing your case. You grant us full consent to store and share your personal data, including sensitive information, with third parties (such as banks and the Financial Ombudsman Service) to facilitate the resolution of your case. Please refer to our Privacy Policy for further details.