Tony has got a stickie at the top of this forum with regards to the current Bank Charges Test case that is ongoing. The topic of this post is with regards to the FSA Waiver on bank charges cases. The Financial Ombudsman Service will not look at bank charges cases unless there is Financial Hardship and even that is only after the Bank in question have assessed it first.
Here is the FSA Waiver
http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/disp_monthly.pdf
The most important section is Annex 2 which explains examples which could relate to hardship. Having had a chat with someone else I know within the charges campaign I need to make you aware of something. The Banks' are under no obligation to make any payment even if you are covered by the FSA Waiver on hardship. They can under exceptional circumstance pay out a partial claim amount if by not doing so you would be made homeless. The Banks' have no obligation to pay out in full. They may put a hold on bank charges for an individual in financial hardship or freeze interest.
Here is the FSA Waiver
http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/disp_monthly.pdf
The most important section is Annex 2 which explains examples which could relate to hardship. Having had a chat with someone else I know within the charges campaign I need to make you aware of something. The Banks' are under no obligation to make any payment even if you are covered by the FSA Waiver on hardship. They can under exceptional circumstance pay out a partial claim amount if by not doing so you would be made homeless. The Banks' have no obligation to pay out in full. They may put a hold on bank charges for an individual in financial hardship or freeze interest.