This document supplements the Summary of Key Information and the Letter of Authority.
By signing this document and the Letter of Authority you are agreeing to the terms and conditions in this document and the Summary of Key Information.
What we will do
We will gather as much information as possible about what has happened to you and your money. In some cases we may need you to send us documentation to support your case.
We will then assess the circumstances to determine if you meet our internal requirements to take on your claim. If you do not, we will provide you with details on how to take your claim forward yourself.
If you meet our internal requirements, we will take on your claim and complain either to your bank or the bank that received your money.
If the bank does not deal with your complaint in a way that we think is fair to you, we will take your case to the Financial Ombudsman Service (FOS) and explain to them why we think you’ve been treated unfairly.
We will keep you updated throughout the process at key milestones and at least every 6 months.
How long will it take?
We will progress your case as quickly as possible but unfortunately many delays can occur depending on the circumstances of your case and particularly if your complaint needs to be reviewed by the Financial Ombudsman Service. Below are some indicative timelines:
Stage 1: Information gathering: This takes around 2 weeks. This depends on the completeness of information you’ve provided us with up front and whether we need you to send us additional documentation. Often we will be able to progress your case to a complaint to the bank once you’ve signed our terms and conditions.
Stage 2: Complaining to your bank: Banks have 15 days or 8 weeks to respond and give you a final response depending on the nature of your complaint. Sometimes banks take a little longer to respond.
Stage 3: Complaining to the Financial Ombudsman Service: This takes anything from 3 months up to 2 years. Unfortunately it’s difficult for us to provide any clearer timelines on cases that go to FOS at present. There are 2 internal stages at FOS. If your complaint is resolved at the early stage by a case handler it may only take a few months. However, if you or the bank are not happy with the decision it may need to go to a second stage (to an Ombudsman for a final response), in which case timelines vary and can take many years in the most extreme circumstances.
How and when we will charge you
You are only charged in the event that you are successful and you receive money back. At any time after our contact with the bank/FOS where a bank decides to refund you, or you receive a refund after the involvement of the Financial Ombudsman Service that we initiated, our fee is applicable.
You must inform us as soon as you find out that you have been successful, if you are informed first.
There are cases where you are “successful” but you do not receive the money. For example, we arrange for a debt to be written off for you. We will not charge you in these cases for the amount written off. We also will not charge you in the event that you are insolvent and any benefit of the funds you’d have received are paid to the Trustee.
In the event that you opted to pay off existing debt rather than receive the funds, you will still have to pay our fees.
We only ask you to pay our fees once you know the outcome of your case. You only need to pay once you’ve received your money.
You may receive refunds in stages. For example, the bank may refund you half and FOS awards you the other half later on. In these cases we will charge you when you receive any refund but no more than the maximum fee.
What is a “successful” case
A case is deemed successful if you are returned any of the funds that you lost to the fraud from either the sending or receiving bank.
What fees do you pay to refundfix?
You pay 15% plus VAT if successful
For larger cases fees are subject to a maximum of £10,000 plus VAT per case. As our fee is 15%, case fees are capped where you get back £66,666 or more.
You pay nothing if you aren’t successful
You only pay when you receive money (see “how and when we will charge you” above)
Fees illustration. These are examples and not to be taken as estimates for refunds you will receive. The refund you receive will depend on how much you lost.
You will be charged per case
If you’ve been a victim of a number of different scams we are helping you with, each scam will be treated as a separate case.
If you’ve been a victim of a single scam that involved you making payments from more than one bank, each bank you made a payment from will be treated as a separate case.
See the “Your Cases” section below for details of the cases we are helping you with.
How are fees paid?
Our fees apply once you receive a notification that your case is successful. The fee is calculated based on the amount your bank/FOS awarded to you, and must be paid within 14 days of you receiving your money from the bank.
You can transfer funds directly to our refundfix account (we will provide details to you if your case is successful).
If you do not pay
If for any reason you are struggling to pay us, you should let us know. We will do our best to help but if we cannot come to an arrangement we reserve the right to take legal action to recover the amount owed.
refundfix Ltd is a company registered in England and Wales (No. 12855931). refundfix Limited is authorised and regulated by the Financial Conduct Authority in respect of regulated claims activity FRN 937096. Our registration is recorded on their website www.register.fca.org.uk. We are registered with the Information Commissioner’s Office (A8986071).
You can cancel free of charge at any time unless a redress offer has been made on your case. Once a redress offer has been made, our fee becomes payable. To cancel you need to email us at email@example.com
Making a complaint
At refundfix we always want to improve our service and are always looking for feedback. If you have cause for complaint please call us, write to us or email us at firstname.lastname@example.org. We will always respond as soon as possible and no later than within 3 working days. If you remain dissatisfied, you can contact the Financial Ombudsman Service at Exchange Tower, London, E14 9SR.
Our contact details
86-90 Paul Street