Most people who lose money to a bad agent do not realize it until it is too late. The warning signs are usually there from the first conversation. Here is what an honest agent will never ask you for.
1. A percentage of your refund as their fee
If an agent will not tell you a fixed number before they start, and instead wants a cut of whatever comes back, that is a red flag. A percentage fee means their interest and your interest are no longer fully aligned, and it also means you cannot know your real cost until the very end. An honest agent tells you the exact fee before any work begins, in writing.
2. Full payment before they even check if you are eligible
You should never pay a full fee before someone has confirmed you actually qualify for a refund. Eligibility checks are simple and should be free. Anyone asking for money upfront, before doing this basic check, is asking you to pay for a service they have not even confirmed you need.
3. Your bank login or online banking password
To send you a refund, an agent needs your bank account number. That is it. There is never a legitimate reason for anyone to ask for your online banking password, login details, or a one-time verification code sent to your phone. This request alone is enough reason to stop working with someone immediately.
4. Your original documents, with no way to get them back
Copies and photographs are almost always enough to file a claim. If someone insists on keeping your original pension book, passport pages, or residence card, and cannot clearly explain how and when you will get them back, be careful. An honest agent works from copies and returns any original document by tracked mail, so you know exactly where it is.
5. To keep the arrangement quiet, or to sign quickly without reading it
Pressure is a warning sign by itself. If someone asks you not to mention the deal to friends or coworkers, or pushes you to sign something fast without giving you time to read it or ask questions, slow down. A legitimate agent has nothing to hide and no reason to rush you.
Why this matters more for this specific kind of claim
Pension and tax refunds involve real money moving through people you may never meet in person, often while you are already back in your home country and far from any office you could visit in person. That distance is exactly what a dishonest agent counts on. Knowing these 5 signs in advance means you do not have to figure this out the hard way.
In short
- A percentage fee instead of a flat, written fee is a warning sign.
- Full payment before an eligibility check is a warning sign.
- A request for your bank login or password is never legitimate.
- Keeping your original documents with no clear return plan is a warning sign.
- Pressure to stay quiet or sign quickly is a warning sign on its own.
If someone has already asked you for any of these, it is worth getting a second opinion before going any further. Send us the details and we will tell you honestly what we think.