LTSB can't stop Payday loans companies raiding account

[Rocky Roadster]

Hi all,

 

I am trying to help my daughter sort her finances out.

My daughter is at Uni has fallen foul of 3 pay day loans when things were hard. She has a bank overdraft and the loans keep bouncing so she has charges from the bank of about £100 per month, which obviously makes things a lot worse.

She can't afford the amount demanded by the loan companies and wants to set up a repayment plan that she can afford.

 

I have told her that she needs to take control of her payments to the loan company but the bank today has said that because the companies have her debit card details, payments can't be stopped. The card can't be cancelled and so we have to write to the companies and request that they stop trying to take payment.

 

Any advice please?

 

Thanks,

[Crocdoc]

Report the card lost or stolen and they will cancel

[Rocky Roadster]

Hi Crocdoc,

 

Apparently the bank said that it would still go through if we report it lost as they have all the details and security numbers. I guess we need to try it.

[PGH7447]

tell the bank she has lost her card and that she wants it cancelled, open up naother account with a different bank and start afresh form there

[meemok]

.... they have all the details and security numbers....

 

I was under the impression that CVV / CVV2 numbers were not allowed to be stored...?

[BRIGADIER2JCS]

The simple answer is to tell the card issuer that the card has been compromised

and unauthorised deductions are being made they should then issue

a new card with of course a different signature panel code and card number.

[postggj]

you need to tell the bank to

 

PUT A STOP ON THE CARD

 

i had this when i fell for the pay day trap

 

in the end barclays gave me a new account number

 

you would be wise to do the same stating continued unauthorized access to your account and ongoing fees

[dx100uk]

what poor advice from LTSB.

 

they should be helping the customer not benefitting by making charges too.

 

thats whythey wont help !!!

 

as advised

phone the number on the card and advise it has been compromised [internet use etc etc]

 

then TELL THEM in a letter that you NOT TO AUTHORISE any payment to ANY loan companies named XXX XXXX

unless they comtact you first.

 

they seem to forget...its YOUR MONEY NOT THEIRS.

 

pers i'd go bank else where and leave them with the OD too

stuff um, terrible customer service

 

dx

[ihateyes]

or tell the bank your daughter left bank card/statements in a public area.......

you feel the account ahs been compromised, and require for piece of mind, new account numbers to be issued.

[postggj]

its new account numbers that are needed

 

these companies have found a way of forcing through transactions on the first 12 digits of your card, even if it has been cancelled

 

get a totally new bank account number

[BRIGADIER2JCS]

I've used the ''compromised' tactic for others who have fallen for Gym subscription that have then gone on to

raise the subs without permission and without notice it always woks it's called FRAUD PREVENTION .

[Rocky Roadster]

Hi all,

 

The bank manager had also said that even if we closed the account and opened a new one with Lloyds, the loan companies could still access the new account and withdraw money? Weird.

He offered the only way was to write to the companies cancelling my daughter's authorisation to them and if they took money, the bank would get it back.

 

Talk about fraud prevention, Lloyds will let it happen, but it will be OK apparently, they will sort it! Not much prevention involved is there?

 

Unfortunately, we "lost" the card on the way back from the bank and informed Lloyds immediately.

Tomorrow is pay day so we will soon see if they have taken more money out.

I can't pay the loans off for her, got my own problems, and she is not meeting her rent/priority debts, so they will have to accept an arrangement. Unfortunately 2 loans were in May and 1 last Christmas. They really are a rip off. As daughter often says to me, what have you learned?

[BRIGADIER2JCS]

I have never heard such utter Bowlocks from a Bank Manager, I believe that they are trying to cover

up inadequate care in their own systems this needs a formal complaint to the banks HO

asap,and to OFT.

If the bank allows withdrawals after they have been informed that the card is compromised, they

are seriously in breach of the banking code.

GET COMPLAINING NOW

[Rocky Roadster]

Hi Brig,

I am recording all this and will put a complaint together.

Lloyds have also been banging £80 charges for unauthorised ODs which has caused the OD to go over again, and incur more charges, and so on. It is a student bank account with a free £1000 OD (their idea) and it has been going over by their charges, for which they have charged another £110 each month. I will be writing to them. OK my daughter has suffered the rabbit caught in the headlights syndrome that many of us get for a while, but the bank has not been helpful or supportive and in fact has just made things worse.

[BRIGADIER2JCS]

Hi Rocky any bank manager who has stated rubbish like that need the order of the boot where the sun

don't shine,it's almost if not defo criminal that he is saying that they will allow this to happen after

they have been informed and instructed not to allow the withdrawall.

I think FOS & OFT and the banking ombudsman would have a field day with this.

Brig.

[count orlok]

I think your daughter should be looking at opening a Co-Op account, she certainly shouldn't be with LTSB after this treatment. leave them with the OD and treat it the same as any other non-priority debt. She MUST pay her rent, other priority bills and eat first, if there is enough left the bank will get their share, the same as the other parasites...... I mean creditors.

[Tootles1971]

Allowing payments to go through using the card is one thing but stating that even if the account is closed and replaced with a new one payments could still be made.......surely not????? This has got to be the largest pile of brown smelly stuff I have ever heard!

 

Definitely get a new bank account for her elsewhere and large complaints to everyone, including your MP.....this is outrageous!

[BRIGADIER2JCS]

AS Said the advice from the bank is rubbish!!

[postggj]

quote

 

Allowing payments to go through using the card is one thing but stating that even if the account is closed and replaced with a new one payments could still be made.......surely not????? This has got to be the largest pile of brown smelly stuff I have ever heard!

 

if you have the same account number then they can still take money off a different card number if linked still to your current account

 

take it from me

 

my wages went in on a Friday, by six am my account was empty

 

the only way to stop this is by a brand new current account number and close down the old one

[BRIGADIER2JCS]

I experienced a similar thing all be it with a major motor insurance company

having used my card to pay the initial premium over the phone for 1 year

thought no more about it did a comparison this year got a cheaper qoute

paid that after phoning to cancel the old policy only to find that the company

had taken a full years premium for the old policy using my card they to 28

days to refund and attempted to take it 4 more times while I waited

for the refund.

Bl**dy banks you can't trust any of them.

[Rocky Roadster]

A new bank account but not with Lloyds seems to be the best option.

Thanks everyone,