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Michael Browne

Been refused cpa cancellation since nov 2009?? Go get your money back now!!

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Regulator orders Banks and mutuals to review complaints about not cancelling recurring payments from November 2009.

 

Consumers who have set up a regular payment from their account will now be able to successfully cancel that arrangement by contacting their card provider, the Financial Conduct Authority said.

 

The FCA has been examining how easy it is for customers to cancel Continuous Payment Authorities (CPAs) due either to payday lenders or for other regular payments such as subscriptions or gym memberships.

 

CPAs, which are also commonly called recurring transactions or recurring payments, are relatively easy to set up but can be hard to cancel, causing problems for consumers trying to manage their finances,the FCA said.

 

Now, following the FCA review of how the largest high street banks and mutuals process requests to cancel CPAs, they have agreed that they will ensure that when a customer asks for a recurring payment to end, that will be sufficient to cancel the arrangement. They have also confirmed that should a payment go through by mistake following cancellation by a customer the customer will be refunded immediately.

 

In addition to securing this commitment, the largest banks and mutuals have agreed to review every individual complaint they have received about the non-cancellation of a CPA and to pay redress where payments have continued to be made despite the customer cancelling the arrangement. This applies to all complaints since November 2009 when the Financial Services Authority, the FCA’s predecessor, began regulating banking conduct.

 

Clive Adamson, the FCA’s director of supervision, said: “It’s important that consumers are confident that banks are meeting their everyday banking needs. Today customers can be confident that when they ask for a Continuous Payment Authority to be cancelled – it will be cancelled - and that it can be done easily.

 

“We recognise that historically this is an area where some customers have struggled but the banks and mutuals have responded positively to our work on this issue. From now on we expect them to be getting this right. In addition, they have committed to review past complaints.”

 

http://www.ftadviser.com/2013/06/28/regulation/regulators/fca-banks-have-to-cancel-recurring-payments-if-requested-UxbeHUuYQIy0SEYbGRE4tJ/article.html

Edited by Michael Browne

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great news esp with Lloyds & their policy!!

 

dx


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PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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It's not a direct debit, it's not a standing order, it must be a... continuous payment authority? Banks ordered to cancel monthly debits on request and thousands could get compensation

 

 

  • Recurring payments are often used for magazine subscriptions, gym memberships or payday loans
  • New rules should make it easier for customers to cancel the payments

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Banks obliged to cancel recurring payments

Continuous payment authorities are used on products such as breakdown recovery membership and payday loan repayments, and are notoriously difficult to cancel

 

The FCA also said that about 30,000 consumers who lost out because a bank failed as requested to cancel a CPA are in line for compensation.

 

This applies to all complaints made since November 2009 when the old FSA began regulating banking conduct. Consumers who lost out but didn't complain should now do so.

 

http://www.guardian.co.uk/money/2013/jun/28/banks-cancel-recurring-payments

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Lets see what Santander and halifax do now.


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..

 

 

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Lets see what Santander and halifax do now.

 

Yes, indeed - these are probably the worst offenders.

 

The BBC article provides a telephone number for the FCA

 

 

Those affected can phone the FCA helpline, which is free, on 0800 111 6768.


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I wil say this, the FCA in their first few weeks/months of life seem to have done more than the FSA did. They seem to be focusing on the important points that affect a lot of people, and not on frivolous things that affect a few.


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..

 

 

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I wil say this, the FCA in their first few weeks/months of life seem to have done more than the FSA did. They seem to be focusing on the important points that affect a lot of people, and not on frivolous things that affect a few.

 

Yes they do seem to be flexing their muscle - lets hope it continues.


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2: Does your Bank play fair - You can force your Bank to play Fair with you

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

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Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Lets see what Santander and halifax do now.

 

Are there many cases of both these refusing to cancel on the forum?

 

I used to bank with Santander but had a problem with money coming out of my account due to a payday loan lender.

 

Reading the contract, these payments appeared to me to be a breach of contract in both the amounts and the dates

and I disputed them with the lender and not only that, but they were going through with no money left in my account!

 

Obviously nothing happened on the lender side so

 

I contacted Santander and asked to stop all activity from my account because I thought these breach of contract payments should be considered fraudulent - they refused.

 

Ended up with £500 of banking fines etc in total as I'd withdrawn all my money and yet they kept honouring these payments which took it way beyond my overdraught.

 

I'd not heard of CPAs at that point so didn't make a specific request to cancel it.

 

Can I claim on these grounds now, rather than the more general fairness Banking law?

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Are there many cases of both these refusing to cancel on the forum?

 

Almost every single poster who banks with them has had issues.


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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Thanks for the reply - I'm looking deeper into this now.

 

I previously was putting off the whole Banking code/ legal duty of fairness complaint in order to reclaim.

 

I believe the PDL did indeed commit fraud with fake authorisation codes, thanks to a mention in one of the posts about Halifax..

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also

and, the oft debt guide was revised recently ish to include misuse of CPA

 

'the OFT updated its debt collectionlink3.gif guidance in October 2011, and a revised version was published in November 2012 setting out the OFT's revised position on the misuse of continuous payment authority (CPA). The CPA section is at paragraph 3.9(m)'

http://www.oft.gov.uk/about-the-oft/...ebt-collection

 

nb 'Under the Payment Services Regulations, the debtor can cancel a CPA at any time up to close of business on the day prior to collection, and can do so either with the creditor or with the payment service provider. If monies are taken without informed consent, or otherwise in breach of the agreed authority, the transaction will be unauthorised and the payment service provider must refund the payment and any ancillary charges' oft guide


IMO

:-):rant:

 

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