Urgent help needed - Cash Genie took almost £700 from my bank account!

[TeamEdward38]

Hi, I'd be grateful for any help/advice that anyone can offer please. I'm new to this site.

 

The past year my debts have increased, partly due to not receiving maintenance payments from my ex-husband for almost a whole year. I have a bad credit rating anyway from debts that he ran up when we were together in joint names. The past year I have built up mortgage arrears of £2500 and council tax arrears of about £2,000. I have sorted out my mortgage and council tax repayments, and that is all going fine at the moment, but some months I couldn't even afford food and to pay for school fees etc and so I (stupidly) turned to payday companies for help.

 

I am in the process of completing the debt management plan with CCCS to try and sort out all my debts once and for all. I don't think it can make my credit rating any worse than it already is. I cancelled my bank cards a few months ago and stopped rolling over the payday loans. I've been heavily depressed and on medication, even though I'm still working full time. My debts and finances really get me into such a state. I was refusing to face my problems and instead not opening mail, hiding in a drawer in the kitchen. Avoiding phone calls. I've been so stupid I know.

 

Anyway, on Friday last week I came to pay my mortgage and didn't have enough money in my account, the card payment was declined. I went online to look at my bank statement, and Cash Genie had took 15 separate debit card payments from my bank account, totalling just under £700. The original loan was £150!

 

I phoned my bank to say that I hadn't authorised these payments and wanted to report this as fraud. I asked the bank how had they put through card payments on a cancelled debit card? The bank advised me that they had actually used my new debit card details! The crafty company had emailed me when I was at my lowest point offering a payday loan with everday is payday or something like that. I stupidly clicked into their link and filled in my details for another payday loan. I didn't get the loan this time - but they got my card details didn't they?! They then used this to take all my money from my account!

 

They have left me with no money to pay my mortgage, no money for my council tax payments that I have to stick to. I'm scared that my home will be repossessed and the bailiffs will come back and remove furniture. I tried phoning Cash Genie. They didn't want to know and basically told me it was tough luck. I've emailed them a letter of complaint and posted to head office. I've tried phoning and still nothing, they still won't offer a refund. I've threatened to report to Trading Standards, BCCA, Financial Ombudsman etc. But they aren't budging. My bank say I can try and reclaim the money back through my visa debit card 30 days after they took the money, but that doesn't help me with my immediate problem of not having money to live on and to provide priority bills!

 

I am at my wits end with worry and I don't know what to do. Can Cash Genie legally do this? Surely it amounts to fraud? I am disputing the amount they have even taken from me, I believe it to be theft from my bank account.

 

Has anyone had similar experiences with Cash Genie and managed to get some money back?

 

Yours hopefully

 

TeamEdward38

[Jamie Kingston]

i am so sorry. from what i know of this you cannot do anything to get the money back - you can try and badgger the bank but they are normally very unhelpful. sorry again.

[robjam1969]

Your only hope is the bank. As jamie says they are reluctant to intervene. I would explain to them that an associated company of cash genie obtained your details frauduently. Make a lot of noise.

Nine times out if ten they won't help but you never know. Make sure you lose card again- just in case.

 

You may have to put this down to experience as cash genie are vile.

[jellycubes]

Not the first time cash genie have obtain new card details this way...dispicable and what vultures. I really do feel for you and the effect this will have on your mental health. I would keep on at the bank in the vain hope you can get this money back but that wont solve your financial crisis. Thinking of you and hope the bank will sort this out xx

[Jamie Kingston]

indeed, hate to be the barer of bad news.

[biggeorge]

Never heard anything so ridiculous, the card details were used without acknowledgment and agreement.

Get to your local police station and make a complaint for fraud & theft, take no rubbish off the police you want

to report a crime of theft from your bank account.

Once you have a crime reference number get back to your bank and demand they refund the card payments

through chargback.

You never authorised any charges on your card and your details were taken from an application form online,

Plain and simple your were robbed but electronically.

 

Its about time one of these so called loan companies were brought to court over actions like these and either

locked up or closed down, would be a good message to all the other ****.

 

George

[Jamie Kingston]

George, i'm sorry although what they have done is totally wrong and unacceptable i doubt there is any point in running around like a headless chicken. it's a false hope that any of the Police or the bank will actually help.

[robjam1969]

The problem is that their crappy terms and conditions state they will do this. That's why I don't think the police will be interested. Underhand yes- illegal probably not.

[jellycubes]

Agreed robjam, the terms and conditions allow them to do this.....we never really read the small print, fatal but when you need the money it gets overlooked. The police wont be able to do anything as there is a debt outstanding and the lady has been the victim of the terrible ploy they use to get new card details. They have done this to many others in the past and when your vulnerable you get caught out. Once again a terrible situation and to all who are in difficulty dont fall for this gutter snipe trick.

[sillygirl1]

As you are very vulnerable get your local MP involved, they may be able to put pressure on Cash Genie to stop them.

 

Complain about the company to Trading Standards via Consumer Direct - explain what has happened and how they got your new card details by stealth.

 

Open up another bank account with either the Halifax or Natwest, both do basic accounts///

[TeamEdward38]

Thanks to everyone who's replied. Just thought I'd update you all. I got a response today from Cash Genie to my "urgent complaint". As a gesture of good will they are prepared to refund £50 to my bank account. They are not willing to refund any more than that as they say I owed the money. They don't believe they have acted illegally or fraudulently as the terms and conditions clearly state they will use whatever methods they can and have access to, to recover monies that I owe them. They said when I filled in the "everyday is payday" application online, I agreed to their terms and conditions also, which clearly stated that if I had any outstanding loan with Cash Genie they would clear that loan in full before processing any application. Obviously in the very small print which nobody reads! I was in tears on the phone.

 

I phoned trading standards at lunchtime today and they can't help me. They told me basically what a couple of have you have said, which is that they can't do anything as the company haven't acted illegally or fraudulently. Their terms and conditions which I have agreed to clearly state the action that they will take to recover outstanding monies.

 

I tried my bank again, and while they are sympathetic to my situation, they say that they can't refund the payments to me. The only thing I can do is wait 30 days and then try and claim back through Visa, but this will involve them contacting Cash Genie, and Cash Genie said they won't allow them to reclaim the money that they took. So that will probably be all in vain too! They did however increase my overdraft by £100 to help me out a little bit over the next week or so. If Cash Genie refund me £50 as well, at least I will have a little bit of money to live on, for food etc. I'm going to phone council tax and mortgage in the morning and try and sort things out with them both if I can, hopefully they will be a bit more sympathetic than Cash Genie were and hopefully we can come to an arrangement about this month's missed payments.

 

I am going to complain in writing to BCCA, which Cash Genie are a member of, and Financial Ombudsman, and also Office of Fair Trading. I'm also going to complain in writing to my bank to see if there's anything else they can do. However, I don't honestly think it will get me anywhere. But at least I know I've tried every avenue possible.

 

These companies shouldn't be allowed to do this to people though, whatever their terms and conditions say. CCCS say that I should ensure priority debts are paid, such as mortgage, council tax, living expenses etc, and then any remainder to creditors. How can it be right therefore that payday companies can just raid people's bank accounts, without any notification to the customer, and without any consideration to individual circumstances, and without making sure that priority debts are paid? It's all very wrong.

 

Like Robjam said, I think I'm just going to have to put this one down to experience... and will never EVER touch a payday loan again for as long as I live!

 

Be warned anyone considering to take out a Cash Genie payday loan!!!!

[toofiegap]

cannot say anything (why I have been awaY and not posting) but help could be at hand watch this space over next few weekss

[HeatA]

Hi

 

I just wondered if you ever had any joy, I have just had the same thing happen to me? And know I dont even have enough money to get my travelcard to get into work. Any help advice greatly received!

 

I feel physically sick. I have a whole month to get through and no money at all. They have just taken £600 I only had 2 instalments left to pay (including this months) on a £250 loan.

[TeamEdward38]

Hi HeatA

 

Yes I did get some joy eventually ... although it did take some time and lots of phone calls and emails!

 

I complained in writing to Cash Genie (sent by post and email to the address for complaints in their terms and conditions on their website). Obviously Cash Genie didn't reply. I had threatened in my complaint letter that I would take further action if a satisfactory response wasn't received, through the BCCA/Financial Ombudsman.

 

As I didn't receive a reply in writing at all from Cash Genie some two months later I decided to write to BCCA just to see if it got me anywhere. BCCA were extremely helpful. They acknowledged my complaint almost immediately and they had a contact at Cash Genie who they spoke to and got me a refund of about £480. This was paid into my bank account within a week. My only regret was that I didn't write to BCCA sooner!

 

I would suggest you do a strongly worded complaint letter to Cash Genie - explain your financial hardship position and the situation they have left you in. Also try phoning them - in some cases they do offer a refund straightaway, but if that doesn't work then do the complaint letter. Stipulate a period for them to come back to you - I think their website says they deal within complaints within 14 days or something like that. Then if you haven't heard back from them forward your complaint letter to the BCCA - again details can be found on the cash genie website in the terms and conditions.

 

Hope this helps - let me know how you get on.

 

In the meantime if your struggling this month you could always try a crisis loan from the benefits agency, if your bank won't give you an overdraft to tide you over.

 

Good luck

[phil73]

Your bank should be able to reverse these transactions as the company have essentially obtained your details fraudulently. They should be able to do this very quickly.

 

This happened to me, not with Cash Genie but in my opinion these people all operate in an underhand way so banks should be used to them doing these things and have mechanisms in place to deal with them

[s4ddys]

Excellent outcome teamedward, just shows persistence is key!

[HeatA]

Hi Both

 

Thanks for your emails.

 

Unfortunately, the bank were unable to do anything they said as I have given over my card details (all be it to another company so called 'sister company') that it now becomes a retail dispute and there is nothing they could do.

 

I did speak to cash genie and they said it clearly states in their terms and conditions etc. They did give me a refund of £105 and said it was a goodwill gesture and should I try to claim any money back at a further date this would be revoked.

 

To be honest, I know there is legally nothing I can do and I could kill myself for being so stupid, but when you are desperate you turn to desperate measures and these companies and their underhand methods should be stopped. I know I borrowed the money and I have every intention of paying it back, but they have taken over £700 for a £250 loan. I'm reading more and more horror stories surely something can be done?

 

I have resigned myself to the fact I have to pay it, and not claim anything from them without fear of them taking more money! My immediate problem is that as from next week I dont have any money left on my oyster card to get to work. I have bills that have bounced with more coming out next week. by the time I get paid on the 31st I dread to think what my bank charges alone are going to be. And next month I dont have enough money to pay 2 months on all my bills. I have been living off nothing to get myself out of debt and these vultures have put me right back. I just dont understand how they can operate how they do and get away with it!