Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Fair Play on Fees Launches Case Against Westpac, ASB And BNZ

Fair Play on Fees Launches Cases Against Westpac, ASB AND BNZ

Fair Play on Fees has today announced that proceedings will be issued against major New Zealand banks Westpac, BNZ and ASB as part of its group legal action against unfair penalty fees.

Fair Play on Fees lawyer Andrew Hooker said it would lodge court documents against the three banks on Friday 28 February 2014. Westpac, BNZ and ASB customers must register at www.fairplayonfees.co.nz by 11pm on Thursday 27 February 2014 to confirm their inclusion in the case.

The launch of Fair Play on Fees has seen more than 38,800 Kiwis sign up to date, of which over 7300 are Westpac customers, 5000 are BNZ customers and 6000 are ASB customers.

Cases against ANZ and Kiwibank were issued last year.

See media files including video interviews of plaintiffs for TV and online media here: https://www.dropbox.com/sh/1gv8zxah79a4pvw/YK0vN0zjiZ?lst A presentation is also attached to this email.

“The reason why it’s important to launch these next three cases is that there are customers of these banks who have paid these penalty fees and wish to be represented in this legal action,” Hooker says.

“The research we have done suggests the penalty fees they have been paying are at a similar level to those other banks so these customers are entitled to have their fees back as much as Kiwibank and ANZ customers. This launch means that the five banks with over 90% of the retail banking market will all face a Fair Play on Fees case.”

The lead plaintiff for the case against BNZ is Chris Beere. Chris has banked with BNZ for approximately 35 years and in the past six years has incurred more than $1400 in default fees.

“There are times when the penalty fees, excessive or not, can cause significant problems,” Beere says. “I had a major health issue five years ago which meant I had to cease work abruptly. Unfortunately, the fees that I was incurring as a result of that situation kept piling up. When I went back through my bank statements I was a bit disturbed to find that I’d incurred nearly $1400 in these fees during a six year period.”

The lead plaintiffs for ASB and Westpac are Alison Withers and Renee and Mike Hau respectively. Alison worked for a bank when she left school and says customers are charged fees at a significantly higher rate now in the electronic age.

“The cost of banking administration these days astounds me, predominantly because I use to work in a bank and back then everything was done manually. These days everything administration wise is conducted electronically and yet the fees are a multitude of what they were in the past. I just can’t see what justifies these excessive fees.”

Hooker says the penalty fees include unarranged overdrafts (account out of order fees), rejected payments on deposit accounts (dishonour fees), exceeding credit limit (over limit fees) and late payment fees.

“The case against the bank is based on the principle of penalties. It is unlawful for any business to charge a penalty fee for a default or breach of terms which is out of kilter with the actual cost of the transaction,” Hooker says. “Our legal system in New Zealand recognises that businesses such as banks can’t charge more than the actual cost otherwise it’s deemed to be unlawful and must be repaid.”

Last week the Australian Federal Court ruled that ANZ in Australia had been illegally imposing penalties for late payments on credit cards in Australia.

The team behind the case is New Zealand lawyer Andrew Hooker, Australian class action experts Slater & Gordon and litigation funder Litigation Lending Services. The litigation is structured to ensure claimants have no upfront costs and nothing to lose by joining the action. All legal services are provided on a no win, no fee basis.

New Zealanders can join the action against unfair bank fees by registering at: www.fairplayonfees.co.nz.
END


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

CPAG: Government Spends Over $100K Pursuing Beneficiary

For the past fifteen years, Kathryn, now in her fifties and living alone with chronic ill health on a benefit, has been challenging the decision by the MSD that she has to pay back $117,000. She has no assets or savings and cannot afford to pay for fresh food or therapy that would improve her health. More>>

ALSO:

Labour: National’s Cuts Shave $100K Off KiwiSaver By Retirement

New analysis shows National’s constant cuts to KiwiSaver will reduce the average worker’s retirement savings by $100,000 over their working life, Leader of the Opposition Andrew Little says... Since coming to office it has made five separate cuts to the scheme." More>>

ALSO:

Auckland: Transport Operators Switch From SuperGold To AT HOP Cards

Seniors using Auckland’s public transport will need to use their AT HOP cards from today but Auckland Transport has requested its operators to show understanding for those customers yet to complete the switch from SuperGold cards. More>>

ALSO:

Crime Stats: Burglary Up 11.9%

“While burglary rates are still below that of recent years, there has been an increase of more than 10 per cent over the past 12 months, which is of concern to Police and something we are determined to tackle,” says Police Commissioner Mike Bush. More>>

ALSO:

Help: Lifeline Aotearoa Fighting For Survival

Lifeline Aotearoa has announced it only has enough money to run for one more year. By 30 June 2017, all available sustainability reserves and funds from a new mortgage on its Auckland property will be exhausted. More>>

ALSO:

Overseas Investment: Auditor-General To Examine OIO

The Auditor-General is to examine how the Overseas Investment Office collects and manages information following a request from the parliament's finance and expenditure committee. More>>

ALSO:

Gordon Campbell: On Bill English Living In Denial

The working poor have been a direct byproduct of the economic policies in vogue for the past 30 years or more, all over the Western world... That anger was evident in the Brexit vote, and it underlies the support for Donald Trump in the United States. More>>

ALSO:

Final Reading Of Parental Leave Bill: Families With New Babies Victims Of Veto

“For the first time ever, a Bill will have a third reading debate and no vote will be taken at the end because the National Government has used its veto – an extreme measure against families,” says the Bill’s sponsor, Labour MP Sue Moroney. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news