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I had a £300 loan from 247 due to be repaid on 31st October £422 with interest. I phoned them to inform ( stupid to phone -I know - have since emailed) them I would only be making a token payment whcih I did on 31st.

 

I phoned halifax to ask to withdraw my permission for continuous payments to be taken and they said they can't do that - I will have to close my account - so I agreed. Halifax sent me some paperwork to sign to close the account. I reported my card lost about 5 days before all this.

 

 

 

My balance on my halifax account was £0.00, i have no overdraft and it is the most basic cash card account. I then discovered on the 2nd November 247 moneybox took £211 as a rollover fee making me £211 overdrawn.

 

 

I phoned halifax and they said the payday loan companies can apply for a manual withdrawal - 247 used my reported lost card or maybe just my account dtails to get the money for a rollover which I have not agreed to. I have defaulted and not chosen to rollover. halifax said that payday loans can even take money from closed bank accounts- unbelievable.

 

 

 

Anyway halifax have confirmed that it was an illegal transaction and they are refunding the money and said visa will fine them but they can still do the same again.

 

I have just emailed 247 telling them not to make anymore illegal transactions from my account.

 

What next ? do I report them to trading standards? financal ombusdman? or both?

 

Thanks a lot everyone

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you can report them but I dont know how much help it will do. Be warned that when Halifax give you the money back I believe 24/7 will have the chance to contest it and if accepted it'll put your back in the red with halifax. Try and get as much as you can in writing to protect your self.

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Thanks for letting me know.. Luckily my wages go into a different account so it can sit in the red and I will pay it back little and often if it comes to it.

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Is it possible to know how everything ended up for you please?

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hi

 

Halifax said 247 took the money illegally as I had verbally asked them not to and halifax refunded it back into my account.

 

Halifax informed me that the only way to stop continuous payment was to close my account which I did n the end as 247 can force the payment through another way (not sure how) by having the bank sort code and account number without the card number.

 

I explained there was a law of which they could only take continuous payment with my permission and I withdraw my permission. Halifax said they had never heard of this law and the only thing I could do was close the account to stop continuous payment. contradictory of the first sentence I know.

 

I havent heard from 247 since this time but I am expecting to any time soon.

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247 did not attempt to take any more from the closed account and I emailed them to explain they had illegally withdrawn the money .

 

I didnt report them in the end.

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I am wondering how they can take money only knowing sortcode and account number, can they do that on any account or only accounts related to cards that they previously used via CPA?

Thanks for coming back

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You MUST report them to the relevant authorities. If you dont, then you are justifying what they are doing, and they will keep on doing it without repercussion.

 

As for halifax, i hope you realise they broke the law by telling you that the only way to stop a CPA is to close the account. Under a law in 2009, all you need to do is inform them you want it cancelled, and they must comply. What they basically told you was " IF you dont like it, sod off and find a new bank".


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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halifax called it a manual withdrawl -whatever that is.

 

Anyway in hindsight I am happy to report 247. Who shall I report them to ?? Is it fnancial ombusdman?

 

Halifax were very unsupportive, so good riddance to them. I cant believe they let 247 take a payment out of a basic cash card account with a zero balance and no overdarft.

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You need to make a complaint to the OFT and the lender. The lender has 8 weeks in which to give you a final response, upon which you can then escalate it to the FOS.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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247 money box are notorious for breaking every deal made possible. Really not a nice bunch from reading other peoples situations. Get a complaint in with the lender and see what they have to say about it within the 8 weeks.

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Oh, it doesnt matter what Halifax decide they are going to call it. The FSA has already made a law about it, and the banks can try and avoid it however they want. They know its a CPA, and from the looks of it, some banks let the account go into the red and then add on charges. Sounds like a nice little money maker for them.

 

Makes you wonder exactly how much they made pre-2009 when nobody could contest the charges.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Yeah -money making **** -Halifax -I bet I couldn't have gone overdarwn if I was trying to buy food!

 

Thanks for your advice -I will definitely put a complaint in with 247 moneybox. Ill keep you updated

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I'd prefer not to name the banks in question as there are quite a few that do it.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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