Jessops and my order :-(

dalesrider

arcon5 wrote: »

In this instance the money would have been reclaimed from the energy companies merchant account. They would have had the opportunity to defend the claim but likely chose not to.... with Jessops they have run out of cash so recovering the money may fail unfortunately.

That £50 sounds like a DD reclaim given the fast refund.
A dispute for non reciept of refund requires paperwork if its via Visa.

The fact jessops are no longer trading and have no cash makes no diffrence to any chargeback refunds.
They are claimed from their merchant bank. Who will have no doubt have ring fenced some funds in case of this.

quyeno

arcon5 and dalesrider - good point!

If the OP has paid the deposit with a credit card instead of Debit, would the OP be able to use Section75?

wealdroam

quyeno wrote: »

If the OP has paid the deposit with a credit card instead of Debit, would the OP be able to use Section75?

Yes they would.

Read MSE's Section 75 Refunds article for details.

maninthestreet

'Jessops - advice FOR LIFE' - they were tempting fate, weren't they?

ed110220

maninthestreet wrote: »

'Jessops - advice FOR LIFE' - they were tempting fate, weren't they?

That's what I thought when they launched that slogan about 5 years ago after a previous brush with administration. It made me wince at the time, tempting fate indeed!

arcon5

dalesrider wrote: »

That £50 sounds like a DD reclaim given the fast refund.
A dispute for non reciept of refund requires paperwork if its via Visa.

No it won't be. It's not uncommon for banks to issue immediate refunds. And in the letter confirming the chargeback it will state the refund is only temporary and basically not to spend the money. It depends on why the cargeback is being initiated usually and at the banks discretion.

The fact jessops are no longer trading and have no cash makes no diffrence to any chargeback refunds.
They are claimed from their merchant bank. Who will have no doubt have ring fenced some funds in case of this.

The merchant account will receive funds then automatically disperse funds every day for transactions x days prior to the retailers actual bank account (for example, if they have a 3 day dispersement policy, money received on Monday will be with them on Thursday, money on Tuesday received Friday and so on). x days varies depending on what industry you are in, as different industries are deemed higher risk than others and usually have longer payout schedules. I've had two merchant accounts.... first paid out after 3 days, second one after 10 days.

How much money is in the merchant account is therefore dependent on how much revenue they took in their last days - and if this continues to to be dispersed to them will likely just be swallowed by the whole whole they call 'debt'.

When a chargeback is initiated, the merchant bank does not ring fence any money (only processors such as PayPal do this). They contact the retailer about the chargeback and asked to either accept it or defend it and send relevant documents within say 14 days. Retailer responds. Merchant bank make a decision as to whether they will return the funds to the requesting bank (the consumers bank). If the decision goes against the retailer then they notify the retailer on x date y amount will be deducted to cover the chargeback.

In this instance where no money is in the merchant account (and even if there is any money in it, there is a risk of it being emptied by the sheer volume of chargebacks being initiated), the money simply cannot be returned to the consumers bank. It is then up to them to decide how they wish to proceed.

arcon5

quyeno wrote: »

If the OP has paid the deposit with a credit card instead of Debit, would the OP be able to use Section75?

Assuming the goods cost over £100 then yes. I suspect this will be the saving grace for many consumers since a lot of Jessops products are high value goods.

wealdroam

arcon5 wrote: »

Assuming the goods cost over £100 then yes.

No need to make that assumption.

The OP told us they paid a £300 deposit towards a £800+ camera.