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Kiwibank class action gets extension

Kiwibank class action gets extension
The lawyers organising a class action against banks over excessive fees say Kiwibank customers have three weeks to come forward to be part of the claim.

The Fair Play on Fees campaign is taking legal action against the small state-owned bank as well as Australian-owned giants ANZ, ASB, BNZ and Westpac, saying they have charged New Zealanders an excessive $1 billion in fees over six years.

Lawyer Andrew Hooker says a High Court ruling this week is great for potentially thousands of claimants.

The court gave the campaign a deadline of March 31 to sign up more people, he said.

"We've not been able to guarantee the inclusion of those Kiwibank customers who've come forward since we issued the case in November last year," Mr Hooker said.

Kiwibank also provided the court and its customers an assurance that customers who participate in the case would face no discrimination from the bank, he said.

Earlier this year, campaign organisers said they have signed up 38,000 customers to their action, and more than 6000 were Kiwibank customers.

For the Kiwibank claim they are citing the case of Auckland couple Leanne and Sydney Briggs, who were hit with more than 100 default fees worth nearly $2000 in six-and-a-half years with Kiwibank, despite transferring money to cover payments.

Mrs Briggs said she was once charged $10 plus interest for being 2 cents overdrawn on a mortgage payment.

The banks say they will fight the class action.

Author: AAP
Source: msn.co.nz
Last modified onMonday, 10 March 2014 00:46

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