Delayed Compensation Payments from Mastercard for Multiple Customers
Millions of Brits eligible for Mastercard compensation might be forced to endure months of waiting for payouts. The whopping £200million settlement could mean you're owed cash for transactions from years gone by.
With around 47 million customers potentially receiving up to £70 each, it's a significant victory for consumer rights, thanks to a landmark legal triumph in May. However, it might be months before the money starts flowing.
The holdup is due to Innsworth, a business that funds legal claims in exchange for a share of the winnings, challenging the distribution of funds. Innsworth claims the Tribunal that approved the settlement made mistakes in allocating its share. As a result, the rollout of the online claims portal is being delayed, causing the payouts to be pushed back.
If Innsworth triumphs in its court case and claims a larger portion of the £200million, the amount of money each customer receives could be reduced. Keep an eye on official sources to stay informed and avoid scams claiming you can apply before the portal officially launches.
[1] - source for the delayed launch: https://www.theguardian.com/business/2023/jun/09/mastercard-payment-protection-insurance-pay-out-delayed-as-firms-challenge-claims
[2] - source for the claims process and potential timeline: https://www.which.co.uk/news/2023-05-17-how-to-claim-mastercard-payment-protection-insurance-compensation/
- The delay in the distribution of the Mastercard compensation for millions of UK customers is due to a business named Innsworth challenging the allocation of funds in a court case, potentially reducing the payout amount per customer.
- If successful in its court case, Innsworth could claim a larger portion of the £200million compensation, impacting the amount each of the approximately 47 million customers would receive.
