Bank account debited...

[jk1961]

Hello all

 

3 seperate payments have debited my account this morning totalling £100. They have been taken by 2 seperate companies, both of the Payday Loan sector.

 

I was warned they would do this and to cancel the card, but stupidly never got round to it in time before I was paid my salary overnight. I accept this part of what's happened is all my fault.

 

The issue I have is I called Barclays who say there is nothing they can do until the payment shows up on my statement as debited. (At the moment it just shows as deducted from the available funds). I know for a fact this is untrue.

 

A few months ago I booked a flight using my debit card but the website said payment didn't go through and the flight booking was cancelled, no tickets were issued etc. I checked my account that day and realised the flight company had actually taken some money out. I called Barclays up instantly informed them as to what had happened and they cancelled the pending transactions and the money was back in my account within 10mins.

 

Why can't they do this for me again? Is there anything else I can do to get this money back I really can't afford to be without it.

[rebel11]

Hi jk

 

The guys will be happy to advise as soon as they are available.

[26072004]

You can request a chargeback but the payday loan companies can produce a copy of your credit agreement which entitles them to take payments.

 

as this is a legally binding document they cant really fight your corner on this one sorry

[jk1961]

Happened again this morning I had some money come into my account overnight and they've totally cleaned it out im in so much trouble i needed this money today.

 

I dont see why i cant dispute this with the bank and get my money back today. Its my account and my money!

[rebel11]

Hi jk

 

The other thing is how did they use the CVV code on the back of the card without your authority? Did they store it?

[jk1961]

yeah they have all details from when i first took out the loan. They have taken nearly £450 now i only borrowed £200

[BIGMAN2708]

Hi JK,

I have had exactly the same problem a few days ago. Gave them my card details as I had my a payment plan agreement with Speed E Loans. They emailed me to confirm they would just take £25, which they did, but later in the day they took the remaining balance of over £500, it was only a £100 loan!

 

Unfortunately, like Speed E Loans there is a clause in there T&Cs stating they are entitled to take any money owed under the agreement. So a claim on chargeback will not success I’m afraid.

 

It’s unfair and harsh but as they have it written in black and white neither of us can do anything about it initially. I have been advised to write a complaint to the lender stating that they refund the debited amount as I cannot afford it to go in one lump sum. Even supply a budget sheet to back up your request. If they ignore or refuse your complaint you then need to escalate it to the Financial Services Ombudsman. Detailing to them the situation.

 

Good luck!

[lollypops]

I would cancel the card ASAP and do not ever give payday loan companies your details they will always do this! I had a problem similar to this Barclas have a policy of not refunding debit card payments to finance companies until they have investigated because of the amount of problems they have with people saying they dont owe the money so they refund it and then the company provides proof they were entitled to it.

[bigshoes...bigsocks]

I would cancel the card ASAP .

 

I would concur. You had your fingers burnt and did exactly the same 2 days later. Please cancel your card NOW so they can't take any more and go from there.

[Shepherd1978]

Do not ever deal with Speed-e-Loans. I took out a £300 loan with them in the month of March 2011 that was payable back at the end of the months when my next salary was due to be paid in. Due to financial constraints at the time I got in contact with Speed-e-Loans to tell them about my situation to set up an agreeable and affordable instalment plan. I spoke to one of their male advisors who stated that if I could not make the due repayment of over £425 or could not pay the deferral fee due interest would continue ton accrue. However he agreed to set up an instalment plan at £175 per month to pay off the balance of £559.00 due and that it would be provided to me in writing via email as I had requested (never did receive that email). The first instalment of £175 was duly debited from my account on the morning of the agreed first payment date. However on the afternoon of this date they cleared my bank account for the remaining £384.00 due to them. I duly phoned them in the first instance on that afternoon to find out what was going on and they said it was a management decision. Thereafter they continaully ignored my emails issued to them with a view to resolving this matter. Absolutely scandalous how companies like this are allowed to operate like this and they are certainly not alone. Wage Day Advance and 247 Moneybox are others to stay well clear of. 247 Moneybox operate under an alias of MEM Consumer Finance Ltd. when debiting your bank account:mad2:. This cost me to a tune of over £800 of which I have received no help from my bank nor the Financial Ombudsman in trying to resolve this matter due to this company'' clever deception and denying all knowledge of my case even though I have plenty of literal evidence to back up my case.

[nortel]

Isn't MEM Payday UK?

[Shepherd1978]

No it wasn't them although I do know who you mean. I dealt with Payday UK a while ago but duly paid off my dues to them as per instalment plan set up with them. I have never therafter nor will ever deal that company again either.

[nortel]

24/7 money box is definately not MEM.

[Jon1965]

MEM consumer finance is paydayuk. As for wageday advance, it is hard work but i managed to negotiate a token payment once I had proved I was not working and what my income was. Took a while because i don't think one part knows what the other part is doing

[ihateyes]

MEM is PaydayUK and Monthend money

247moneybox is owned by Active securities.

 

2 different companies.

 

ps poster... you ever called PaydayUK.... yu thru to an agent in a minute or so....

you ever rang 247..... try 30mins minimum to speak to someone.