Jacamo / JD williams overcharging (CHECK NOW!)

checkyoself

Hi,

I wanted to ask if everyone with a JD williams or jacamo pay account to check their statements. I recently found them to be overcharging me on my jacamo account after firstly dismissing me at first and we're very blunt that they would fix it and refund the discrepancy but then I checked my JD williams account and found they were doing the exact same thing.

This was my scenario, I recently had a balance of £400.57 and paid £25 towards the balance then noticed after the statement date it was back up to £396.39 and was thinking my £25 payment only put a £6 dent on the amount. So checked my statement and it says It says my monthly (28 days but I'll stick with saying monthly) interest rate amounts to 3.81% a month (~75% Apr) which on a balance of £400.57 should have only amounted to being charged £15.26. the amount they charged was £20.82 amountig to an actual monthly interest rate of 5.2% or (~100% APR). I've now went on to my JD williams account and noticed they have being doing the same.

Firstly I just want people to check if they have been overcharged since I'm probably not the only one and secondly to kind of gauge the scope as if this is systematic it might be cause for a class action (Not legal advice and also not a legal threat. I am not a lawyer). But please check it's not been a massive financial burden to me but it might be for others

Brie

Was there any other activity on the account other than interest and your payment? i.e. any other purchases? This might account for the difference in the interest you expected and what was charged.

MorningcoffeeIV

Remember that interest is charged daily, not monthly, so you would need to do more detailed calculations to determine if there is an issue. It is unlikely that they charged incorrectly.

checkyoself

No it was a discrepancy on the way they were billing my account which they have acknowledged and are in the process of rectifying. I just find it hard to believe I'm the only person this is happening to.

Brie

Thanks for clarifying. I'll flag this with the MSE staff so they can look further in to it - it may generate an article if it appears to be more than affecting just you.

checkyoself

Thanks brie, I hope it's an isolated case though wanted to make the experience public for other people to check. I'm not that badly affected however others might be as I noticed and flagged the same discrepancy was being applied to my JD Williams account and noticed there was no current thread or article relating to this

Woodstok2000

It all depends when you made the purchase(s), when you made the payment and when your statements were produced. If you can provide an exact timeline it will be easier to advise on what's going on.

checkyoself

So I hadn't made a purchase since before the previous billing cycle. So purchases were negligible in this case. I understand for some folk this might muddy the water but they have acknowledged it as an issue on their side.