Does cancelling your card work?

[Dan Ras Ting]

Right then folks, I'm in a bit of a pickle. I have currently got another thread on the go about getting hold of my situation. I've sent an email to all of the said lenders and cancelled (lost or stolen) my card. Does this work?

I've come across some real horror stories about cancelled cards being used and I really can't afford for this to happen. It would be really helpful if everyone who has cancelled a card for it to go well posts up details on here including which loan providers you were with. The same goes for the horror stories.

It's too late for me now anyway as its d-day on the 31st and I can't do anything this side of the bank holiday. Cheers.

[cornetgirl]

Well I cancelled my card and Wonga, QQ, PDE, WDA, Wages Today, Mr. Lender and Speed-e-Loans weren't able to do anything! I also emailed them and while some were a bit huffy at first all bar QQ have accepted a payment plan!

[Dan Ras Ting]

Cornetgirl, you don't realise how relieved that makes me feel...

My loans are with quick quid, wage day advance, wonga, payday express and lending stream. Although what you say doesn't mean my funds are definately safe it does make me feel alot better. Getting a new account is going to be a pain in the bum for a bit but I have started drawing out all of the cash I will need for the month and I will get all of my bills paid on Tuesday morning. Does anyone here have experience with the above loan companies and cancelling cards on them. Have any of them succeeded in getting past card cancellations? Thanks guys (Cornetgirl )

[jellycubes]

Daz i canceled my card and had 5 payday loans qq, payexpress, cap 1, lening stream, cash choice they didnt get a penny lol only thing to watch out for on internet banking is direct debits being set up.....see em cancel em simples

[Dan Ras Ting]

What sort of debit card have you both got?

[barafear799]

Hi

 

I was about to start my own thread - but this is more or less my point here.

 

I haven't cancelled my card - but over the weekend just gone I had ZERO available funds.

 

To my astonishment, Lendingstream managed to process 4 separate payments against my account for a total of more than £200 - and my bank (LTSB) paid them. This caused me to go £200 over my o/d limit - and facing LTSB's quite ridiculous O/D fees - potentially £235 in the next 11 days - I have managed to avoid that just - but I was astonished that this could be paid. I have several PD loans - and am in the process of starting a new thread to ask for advice.

 

I have had several "declined payments" texts and emails and calls regarding these "declined" payments - so, as I say, I was astonished to find that LTSB paid these.

 

I queried it in branch - was told to phone up their "helpline" - and after 30 frustrating minutes on there I was pretty much told that a debit card payment was a guaranteed payment method regardless of whether there were funds available - they also said that Lending Stream did not seek "authorisation" on my card.

 

It is going to look a bit fishy if I phone up and say my card is lost/stolen.

 

Any advice please?

[postggj]

Listen people

take it fom some one who has had this happen to them

 

just telling your bank to cancel your card and getting a new one does not work.

 

They use the last three digits on the old card and use a thing called a continuouse credit mandate

 

this is what you do

 

as well as telling your bank to cancel your card you tell them to

 

put a stop on the card

 

i ended up getting a new bank account number in the end

Edited September 2, 2010 by postggj

[avocados]

I have just learnt that canceling your card does not work.

 

Does closing your account work?

[postggj]

Thats exatly what i did

 

the bank opened up a new account and closed down the old one

 

that is your best option

[marc_30m]

I reported mine lost stolen and meant paydayuk and pounds til payday couldn't access my account. They kept trying even when I threatened legal action but they didn't get a penny. After about two months debt passed to a DCA then agreed a sensible payment plan less than I'd offered originally. no interest, no fuss and by STANDING ORDER not dd. My housemate didnt cancel card, against my advice, they agreed a repayment plan then raided bank account ! Total a***holes

[robjam1969]

Postggj is right - only a new account will guarantee your funds are safe. Worth it for the peace of mind. Virtually impossible to get the cash refunded and even when you can it takes ages.

[Stupid1]

:!:I have a natwest Basic Step account with no overdraft facility, I have cancelled my card, but can these B*****d still get authorisation from my cancelled card???

[Feelingdownandout]

hi just looking in, I had a worry about this and was given some very good advice, basically, i wrote to the company who i had set up a continuous payment authority with and told them that I withdrew my consent for them to access the funds in this way and to cease payment via this method, if they didnt I would report them for fraud, I too contacted my bank who told me that changing my card or stopping it would not necessarily stop the payments, I was lucky and got written notification that they had honoured my request.

 

fdao

[Dan Ras Ting]

Right then, a quick update for you all (and it isn’t good news)...

I cancelled my card prior to payday and contacted all of my loan providers by email to inform them that I wanted to set-up repayment plans.

Some have accepted, others have been awkward and Payday Express have ignored me L

I have one more due to default (Wonga) on about the 17th of September.

All was well until today when I noticed a £100 transaction on my account. On phoning the bank I have learned that it has come from Payday Express on my old card number. To make matters worse there is another £100 payment pending on my account from the same people!

I have had 2 very long conversations with Halifax head office and I have been into branch. There is no way they can stop these payments. They won’t/can’t give me a new account number. I’m now at the mercy of Payday Express (and any others that can force through payments). I can’t close the account as its £2000 overdrawn (and will be over that by the time the next £100 payment clears) and they can’t put any form of stop on the account.

I’ve applied for a parachute account with the Co-Op and that is OK pending ID.

What can I do now? It looks like it could be open season on my existing account.

Once the next payment clears tomorrow its £5.00 a day until the overdraft is back within its limit.

What do I do about Halifax- it could be over £3k overdrawn by the end of the month L

Help!

[Josie8]

If you wish to cancel a Continuous Payment Authority, you should always write to the company concerned, or follow up a telephone cancellation with a letter sent by recorded post, just for your peace of mind.

 

In the unlikely event they don't act upon the letter, you should immediately open up a dispute with your card issuer, and explain that you withdrew consent for them to continue to charge your card.

 

They should credit the money back into your account immediately while they investigate with the retailer (although this may depend on the card issuer). If it is a monthly subscription, you may have to continue to dispute individual transactions until the matter is resolved, which can take time.

[Dan Ras Ting]

Thanks for your advice Joise8.

 

Is there any written law I can 'show' my card issuer because if my last meeting with the Halifax is anything to go by they will just take the stance of "you took out the loan and signed the t & c's so you should pay it back."

 

If I put it in writing does that mean they must cancel the CPA with no exceptions?

 

Thanks

[smurfetty]

i have heard this horror story too, but I think its more with how people 'close' the account. A lot of people this has happened to claim they spoke to their bank and asked them to close it, of course they put a block on it, but i notice these companies can still withdraw funds using the card number. Lloyds is the main bank i hear can still be accessed. Basically just report the card 'lost' and they cannot grab ANYTHING! NEVER explain to your bank you are having problems with such and such. They have no interest.

 

Payday Express phoned me in a fury one morning when their 'dipping' didn't work. OH i did laugh at how angry the lady was.

[Feelingdownandout]

Hi there Josie8 has given you the best advice, write to your creditor and advise them that you are cancelling payment via continuous payment authority, and tell them that you will be paying by standing order, cash or cheque whatever method suits you best. Send the letter registered delivery, tell them that if they continue that you will report them for theft as they no longer have your authority to remove funds from you account, send a copy of the letter to your bank under cover of a letter stating what you have done and if they continue to allow payments to leave your account then you will dispute the transactions.

 

There are no exceptions, if you write and cancel the CPA to your creditor / dca then you have withdrawn your express consent to allow funds to be withdrawn in this manner.