Claimo

Ordinary

Australian families are getting surprise windfalls of thousands of dollars from banks and lenders that sold them junk insurance.

Australian start-up

Claimo

is seeking refunds from banks on behalf of customers, securing more than $5 million for 1600 people in its first year, on a no-win, no-fee basis.

Many punters don’t even realise they are eligible – but the big four

banks

, which have provisioned a $4 billion kitty for payouts, and other finance companies are prepared to pay up when claims are made.