Asda Credit Card / Wrongful charges
ASDA operate with the fast payment system, which means electronic payments paid by your bank are received within 2-4 hours. ASDA fail to apply those received funds with the correct value date. A value date in banking terms is the date that funds are actually available to them - so by failing to apply the correct value to the funds the Bank (now Santana) sit on the money and enjoy the interest it earns.
I paid my bill in full, as I always do by this method for the due date of 3/1/10 .Asda claims they did not receive the money until 4/1/10 and charged a late payment fee and interest. I argued the point, particularly as this was not the first time it had occured and they agreed to refund the late payment fee but have failed to recredit the interest. By failing to do this the account has a small balance remaining. I told them at the time of complaint I would pay the amount due, which was just a fuel purchase, they had to clear the remainder and I would close the account. They haven't.
There have been 6 email exchanges, whereby they have lied about the payment receipt date and tried to claim they are not part of the fast payment scheme. My bank has confirmed again that they are and previous bill payments show the immediate receipt!!
ASDA lie - ASDA charge unlawful interest - ASDA do not have staff trained in customer service or knowledge of the payment system. I am now going to the ombudsman - meanwhile ASDA are charging interest on the interest... Watch out!!
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