Urgent Bank Charges Update – New FSA Guidance July 2008

Whilst it was bad news that the waiver on claims was extended for a further six months, the update was tempered with the new guidance for dealing with those in financial difficulty (also known as hardship cases). The new guidance suggests that if you have received more than £500 charges in one year then you can claim financial hardship – this means that the current waiver on claims does not apply to you. There are also a number of other tests which could determine whether you are experiencing financial difficulty.