Thousands of savers who are pursuing their banks over unfair overdraft charges will have to wait at least six months more to learn if they will receive compensation.

The Financial Services Authority (FSA) announced today that it is extending to January the waiver that allows banks not to pay out on claims.

The waiver was introduced in July last year when the Office of Fair Trading (OFT) started a court action to prove that high charges for unauthorised borrowing are unfair. It was due to expire next Saturday, but the court case is far from complete and the FSA has said that it will allow banks to put claims on hold for a further six months.

Dan Waters, director of retail policy at the FSA, said: “The FSA continues to work closely with the OFT and the banks in reaching a resolution on the fairness of unauthorised overdraft charges. The waiver will be for six months, by which time we expect to have a decision from the Court of Appeal."

While the waiver is in place the Financial Ombudsman Service has agreed not to proceed with complaints. Cases in the county courts have also been put on hold.

Martin Lewis, of Moneysavingexpert, the consumer website, said: "It is nearly a year since the FSA first kiboshed reclaiming, and people are still sitting on their hands, unable to try to reclaim money that was taken from their accounts without their permission. The banks, meanwhile, continue to make hundreds of millions of pounds in charges. How long are people expected to wait?"

However, other consumer groups have welcomed the extension because it means that claims can be made going back for a longer period.

The rules state that you are able to make a claim for charges incurred over the past six years. As long as the waiver is in place, consumers can claim charges dating back to July 2001.

Last week an OFT report claimed that high street banks are making about £2.6 billion a year from bank charges. The report also criticised the banks for the complexity of their charges as well as their lack of transparency, making it difficult for customers to compare current accounts.