Badly Sold Wage Day Advance Payday Loan Customers Recover Less Than 6% of Claims
I owe a payment – how will I receive it?
Payment will be sent by direct bank transfer using the details KPMG has on file. You should have received an email letting you know the payment has been processed – these were sent on Tuesday, May 20 or shortly thereafter. If you do not see the amount in the email arrive in your bank account within seven days of receipt, contact KPMG Customer Service.
However, some Wage Day Advance customers will not see any payment. If you had a loan balance that you were still in the process of repaying, the compensation owed to you will be used to reduce that balance. Any remaining amount will be sent by direct bank transfer.
If the compensation owed to you is less than the amount you still owe, you will still need to make payments to repay the loan. KPMG contacts all customers in this situation by email, telling them the bank details to make the payment (although some may already have this information if they have already agreed to a payment agreement).
How can I contact KPMG if I do not receive the money?
Its customer service team is working remotely due to the coronavirus, so phone lines have been suspended, but if you need to contact us you can email [email protected] KPMG says its average email processing time is seven days, but warns that a response could take longer depending on the type of request.
I think I am entitled to compensation – can I still claim?
The deadline for submitting a claim to Wage Day Advance has passed and the KPMG administrator says any claims submitted from now on are unlikely to be considered.
He emailed 256,000 customers who should have been compensated last year, urging them to submit a claim. Those who did not receive an email were able to contact KPMG themselves to request that a complaint be addressed.