Have you recently received an email about the ANZ Class Action from Phi Finney McDonald? Its not a scam. ANZ is being sued on behalf of group members who were charged interest on an ANZ “interest-free” personal credit card account at any time from 1 July 2010 to 31 December 2018.
Major Points on the ANZ Credit Card Class Action
A class action lawsuit has been filed against Australia and New Zealand Banking Group (ANZ) by Phi Finney McDonald on behalf of credit card holders who were charged interest on “interest-free” credit cards between July 1, 2010, and December 31, 2018. The lawsuit claims that ANZ’s credit card contracts had unfair terms and that ANZ acted unfairly, causing financial harm to its cardholders.
The case is now settled, though ANZ does not admit to any wrongdoing. The Federal Court of Australia has set a deadline for group members to register for the settlement by October 4, 2024.
Who Is Eligible
If you had an ANZ “interest-free” personal credit card during this period and were charged interest, you may be eligible for compensation. If ANZ has your email or phone number, you will receive a message with a link to get more information.
How Much Is The Settlement
It is estimated that $34,722,214 (60.4%) of the $57,500,000 settlement sum will be distributed to group members.
The amount of money you get from the ANZ class action depends on a few things. It will be based on how much extra interest you paid on your credit card between July 1, 2010, and December 31, 2018. The total payout will be split among everyone who registers, so the more people there are, the less each person gets. Also, some of the money will be used to cover legal fees.
When Will I Get Paid?
You should get your payment between March and April 2025. This will happen once the court approves the settlement and if no one successfully challenges that approval.
Also read: Totally Cool Class Action Lawsuit