The House of Lords has now granted leave to appeal to eight banks despite the Court of Appeal’s refusal.

Bank customers seeking repayment of excessive charges still face a long wait for resolution of their claims as it could take between one and two years for the further appeal to be decided, and if it is refused, the further decision on fairness has still to follow.

Consumer groups have accused the banks of dragging out the issue. Which? said people should not be deterred from putting in their claims and taking their place in the queue.