Two of New Zealand's largest banks will this week be served court papers over claims they charged more than 41,600 customers unfair penalty fees.
The Fair Play on Fees group, fronted by Auckland lawyer Andrew Hooker, yesterday confirmed it would lodge documents in the High Court at Auckland on Wednesday to begin legal action against Westpac and BNZ for what it believes to be unfair exception fees.
The fees concerned include honour and dishonour fees for unarranged overdrafts, rejected payments on deposit accounts, exceeding credit limits and late payment fees.
Mr Hooker, who is backed by Australian law firm Slater and Gordon, said the decision to post court documents followed developments in a similar class-action suit against ANZ in Australia.
In February, the Australian Federal Court ruled that the bank had been illegally imposing penalties for late payments on credit cards.