Millions who were set to get up to £70 in compensation from Mastercard could now be waiting months for payment
Read on to find out if you are eligible for the compensation even if you have never paid with a Mastercard
BANK ON IT Millions who were set to get up to £70 in compensation from Mastercard could now be waiting months for payment
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MILLIONS of Brits who are eligible for compensation from Mastercard could be forced to wait months for the payment.
The credit card company has agreed to a £200million settlement which could mean you are owed money for purchases made years ago.
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Millions of people could be forced to wait months for compensation from Mastercard
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Around 47million customers could receive compensation of up to £70 each after a landmark legal victory in May.
But it could be months until the money is paid out.
This is because Innsworth is now trying to challenge how the funds will be shared, according to Money Saving Expert.
Innsworth is a business that helps to fund legal claims, in exchange for a share of the winnings.
But in this instance, Innsworth said the Tribunal that approved the settlement "made a series of errors in its judgement" when deciding how much of the money should be given to Innsworth.
The company has now filed a legal claim called a judicial review to try and get a higher amount.
As a result of the new case, the launch of the online claims portal will be delayed, so payouts will also be pushed back.
Meanwhile, if Innsworth wins its case and gets more of the £200million, it could reduce the amount of money customers get.
When was the legal challenge launched?
Walter Merricks, a former financial ombudsman, launched the legal claim in 2016.
He alleged that 46million British shoppers were ripped off after fees were wrongly levied on transactions made over a 15-year period between 1992 and 2008.
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