widescreen TVs for 49p!!!!! [CLOSED]

xFlake

I've just has the money debited from my account. This happened to anyone else?

techmob

like many others..


payment was took from my account today...

but still no cancellation email!

jockettuk

so it looks like the only winner in this is argos.. if taken all the £5.44 from peoples accts and not refunding for even a few hours think of the interest they making..

mirandamayhem

had the letter through the door today too.
All this talk of interest.
I must be naive but i really don't think it's going to be that much, and it's going to cost something for them to be refunding the money.
Also, it was, at the end of the day, our choice to take the risk

HOLsale

mirandamayhem wrote:

had the letter through the door today too.
All this talk of interest.
I must be naive but i really don't think it's going to be that much, and it's going to cost something for them to be refunding the money.
Also, it was, at the end of the day, our choice to take the risk

actually it is a fair whack of money

look at it this way, argos is a big company that probably holds it's money in a high interest bearing account

let's say for sake of argument that they have had 10,000 tellies ordered

10,000 x £5.44 (have to include that delivery charge that they haven't provided for you yet) = £54,400

ok i have no idea how much interest they'd get daily but i don't think it's unreasonable to assume that they may get .05% interest per day, tiny yes but when you multiply it:


£54,400 x .05%= £2720... per day

yes, i'm guessing at the amounts but when you look at it that way you get the point... wouldn't you like to make that kind of interest?

edited to say that i forgot about compound interest, so they'd get even more for each day they don't refund you!

mirandamayhem

and how much are they paying their staff to sort out the mess? There's surely bank costs of having to refund money back?
OK, the may mae some money from it, but i don'tthink it's any amount they feel is worthwhile to them.

Though, that would pay for a few tv's
Right, who wants a tv paid for with the interest!

HOLsale

well i for one don't feel at all sorry for argos having to spend time and money on resolving this problem as they do it habitually!

there are plenty of safeguards that can easily be built into an online shopping cart to flag problems, control stock etc. there are also measures to flag wrong price inputs so they really have no excuse!

mirandamayhem

i'm not saying i feel sorry for them, i'm saying that interest they make is being eaten up by respolving their muck up

Munki_2

clayts wrote:

Just re-reading Dan Bates article here there's still a potential question mark over whether this was a special deal or not....

Wow indeed

Damn it, do you think I should have bought the breakdown cover for £59.99 too? That seems a good price for cover. I'd hate it if an expensive item like that broke down ;-)

Munki.

mbamick

HOLsale wrote:

actually it is a fair whack of money

10,000 x £5.44 = £54,400
£54,400 x .05%= £2720... per day

The £2,720 relates to a 5% return on £54,400.....FOR A WHOLE YEAR.
You need to divide the figure by 365 to get a daily interest rate......which is a paltry £7.45.

I suspect that, with the transaction costs incurred and adverse publicity, Argos will not be regarding this as much of a coup for them.

PS.
Got my email last night, cancelling my order and confirming the correct price at £349.99.