Lending Stream taking money -

[nortel]

all the above has happened to me lending stream taking money from lloyds tsb on a cancelled card.however lending stream now have an apology notice up on their website and have employed extra staff to try and rectify all the people they have wrongly taken money off.good luck

 

Do you think this is us or just other current customers.

I did fire off an email complaint yesterday mentioning the amended OFT guidelines regarding continuous payment authorities so maybe that's set some alarm bells ringing?

[nortel]

Hello Everyone,We must apologise for a series of system issues here at Lending Stream that have unfortunately caused some payments to be taken from some customers incorrectly.We're very sorry this mistake has occurred and we're now working to contact all customers affected and we're doing our best to rectify the situation.

We may not be able to reach you before you try to get in touch with us, and for that we also apologise. If you feel this situation applies to you, please send an email to [email protected] with your name and agreement number and we'll get back to you as soon as we can.

We've put additional staff on duty to help answer any questions.

We deeply regret any inconvenience caused, and we're doing our best to rectify the situation.

hmmm

[autumnique]

i rang them monday nortel.we can but try ive sent an email to the hotline addy so we shall see.im not happy with lloyds letting a company take money off a cancelled card or that i didnt even have the money in the bank so it should have been declined.lloyds were of no help at all.

[nortel]

i rang them monday nortel.we can but try ive sent an email to the hotline addy so we shall see.im not happy with lloyds letting a company take money off a cancelled card or that i didnt even have the money in the bank so it should have been declined.lloyds were of no help at all.

 

Ive also sent my complaint to their new hotline email address. I had the same response from LTSB, so I have put a complaint in the post basically accusing them of not supporting the relevant OFT guidelines.

[autumnique]

good idea.all lloyds did was open me up another account in addition to my platinum so i could give any other companies my new account info....

[nortel]

good idea.all lloyds did was open me up another account in addition to my platinum so i could give any other companies my new account info....

 

Thats what Lloyds offered me.... I refused and told them on the phone I would rather have a backup account else where (which I already had).

[nortel]

The onr thing I would like to know is...... Why have they only targeted LLoyds TSB customers?

[rebel11]

Keep updating the thread, we really want to know whats going on with this company.

[Boxich]

Thanks for the email address, I have just sent one off and i'll keep you updated.

 

Thanks

Adam

[quackquack]

When quick quick raided my lloyds tsb account fraudulently I immediatly called lloyds I got put through to the fraud dept who cancelled my card and stopped the payment going through .it took a full week before it reversed the money back to my account as it stood pending for a wk but quick quid did not get it thanks to lloyds acting on the actual day within an hour of it occuring so phone lloyds demand u speak to the fraud dept now and demand payment is immediatly reversed and as for ur car insurance etc cancel ur direct debit now and the others and pay them late it will be ok iv had to do that loads until I got myself on track just pay them a few days later and ul avoid bank charges and good luck to u

[schampignon]

This also happened to me at Lloyds who paid me £1000 overdrawn thanks to Lending Stream.

Lloys immediately reversed the transactions and cancelled bank charges - well done. But how could it happen in the first place. I was told because I used my card online, even if the details were for a previous card the system would allow the transactions to the next issued card! What sort of banking is this. I thought card transations had to be authorised by their automatic approval system and get an authorisation code to verify it. So how can these frauds happen? Try spending money on your card at the shops if your account has insufficient funds! No chance!

 

As all these reports seem to be from Lloyds surely their banking procedures do not comply with Banking Regulations. How can a card be accepted if it has been stopped, how can overdrafts be reated as a result. This issue must be raised with the authorities that control Banking Operations or the position will not change.

 

How can this be done?

[joedoyle67]

Hi there. I found your forum when the same thing has happened to myself. a card that I had cancelled in June was used to lift 4 amounts of 25, 25, 134.xx and 443.xx. I had sent lending stream a letter back in june about payment arrangements and got no response. they have settled my 2 accounts with them for these amounts they took but it was really bad timing. I cannot really dispute the money being owed but I am really appalled that it was allowed to happen. As I cannot trust Lloyds TSB anymore then I will be letting them know by moving banks. But as there are less to choose from now it is difficult to find one that is not associated with lloyds. they are now part of halifax, and bank of scotland too. which as a matter of interest they have just tried merging all their systems together so I wonder if this would have any bearing on the fact they are paying out on cancelled cards. would be good to know where we legally stand with Lloyds as I feel they have definetly broken some regulations or laws by paying people fraudently from cancelled/blocked cards.

[nortel]

Does CAG have a LSB rep?

[rebel11]

No, but they know what they have to do. Instead they are pretending to be Lending Stream Customers to try to mitigate their breach of OFT Guidelines, I doubt the OFT will be as understanding as their Customers have been to date.

 

Does CAG have a LSB rep?

[Boxich]

Hello all,

Small update. I have been in touch with Lending Stream who advised I should contact the bank to reverse the payment. I contacted Lloyds who said there was nothing could be done even from a cancelled card, as I previously given authority for Lending Stream to take payments. The bank gave me a number for their card dispute team who said the same and I should take the matter up with Lending Stream. I put 4 points to them.

 

1: OFT regulations if im reading them right mean that Lending Stream must give me advance notice of any amounts they are taking.

2: This is an old expired, lost cancelled card.

3: There was no were near enough money to cover the payments.

4: This is only affecting Lloyds customers

 

I then contacted Trading Standards (consumer direct), who advised that I need to write to the FSA.

 

I am now over £400 overdrawn, cannot pay any bills and am literally stuck between a rock and hardplace. Any further advice would be appreciated.

 

Thanks

Adam

[reiki05]

Hi Boxich,

 

am going through exactly the same things as you with Lloyds and Lending Stream and like yourself am getting no joy. I will do the same and write to FSA maybe then we will get some clear answers instead of being pushed back and forth and i no how you feel not having any money to pay priority bills.

[joedoyle67]

well, i havent heard from the bank or lending stream but all of a sudden yesterday the money was all returned to my account with the entry "debit dispute" . I'm glad I've got my money back but will still be moving banks.LLoyds never kept me informed during the process and as far as I was aware the money was gone. if it wasnt for a random check on my account today I'd have never known it was back. so looks like if you do raise a dispute with lloyds they get it done (eventually)

[gigz87]

Hi Joe, What exactly did you say to bank cause they wont give it us back?

[Boxich]

Great success, money returned by Lending Stream. Phone up and ask to speak to a manager. Mention the FSA regulations and court action, they will soon give in. Money was back to me within 2 hours. Now I have to tackle the bank regarding the charges. Dont give up!

[joedoyle67]

what i said to the bank was that it was their fault, and it was fraud due to a cancelled card being used to pay the money. whether I owed the company money or not it is not the banks responsibility to arrange my finances. I had called them before the money came out when it was still pending and then a 2nd time when the money was taken. I had no idea they actually done anything as after I left the call I felt like the money was lost.Although the downside is, due to their 0845 number and me using a mobile I have ran up £18 worth of calls to them.

[phil73]

My experiences with Lending Stream are bizarre. I couldn't pay them in December (my card was actually stolen around then). I emailed them, explaining my circumstances and offering payment plans. All I got was a text saying they couldn't take payment on Christmas Eve. I heard nothing further until late last night when they emailed saying that they couldn't take the payment scheduled for 16th March. There never was any payment scheduled for that date and there was no mention of the fact that I had not paid since November. They texted me this morning. I am worried they will clean me out on pay day. I applied for a loan with another Pdl last week, could they have given LS my new card details?

[dx100uk]

yep thats how

 

why oh why are you using these PDL co's??????????

 

 

credit union everytime

 

dx

[phil73]

yep thats how

 

 

 

why oh why are you using these PDL co's??????????

 

 

 

 

 

credit union everytime

 

 

 

dx

 

 

 

I did try a credit union but they credit check you just to put you on their books. i just don't understand why LS are only contacting me now.

[dx100uk]

you do you sussed it out

 

well known fact

 

dx

[pcr1]

Just read this thread and I am utterly amazed that no-one has picked up on the fact that Lending Stream are clearly using Visa continuous payment authority to take payments. These will go through on cancelled cards, and even if there are no available funds. Well publicised due to the difficulty in stopping them for unauthorised payments (i.e. you can't).

 

Lloyds TSB uses Visa Debit. Beware using Visa Debit in these circumstances.

 

What would be interesting is if LS ask customers for continuous payment authority when card details are first entered. If not, we can get them in serious trouble and they should be reported to Visa.