Finally, Banks brought to heel over Continuous Payment Authorities.

[citizenB]

 

 

 

Thousands of bank customers due payments compensation

Up to 30,000 consumers may be eligible for compensation,after some banks failed to cancel regular payments from their accounts.

 

The Financial Conduct Authority (FCA) said some banks have not been stopping such payments when asked to do so.

 

The payments concerned are known as Continuous Payment Authorities (CPAs), or recurring transactions.

 

 

 

For the full story : -

 

http://www.bbc.co.uk/news/business-23099564

[citizenB]

"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," said Clive Adamson, the FCA's director of supervision.

 

In the meantime the largest lenders have agreed to review each complaint they have received on the issue, and to pay compensation where necessary.

 

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

 

 

So if you have been told by your bank that they cannot or in the case of Santander that they will not cancel these and payments have been made perhaps even forcing your accounts into overdrafts - you should make a complaint to your bank and demand they refund this money.

[Guest]

and, the OFT 'principles' re CPA that should have been followed

http://www.oft.gov.uk/news-and-updates/press/2012/117-12

[citizenB]

I hadn't realised this story had already been reported by Michael Browne

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?395493-Been-refused-cpa-cancellation-since-nov-2009-Go-get-your-money-back-now

[citizenB]

http://www.consumeractiongroup.co.uk/forum/showthread.php?395566-Lenders-face-redress-bill-over-CPA

 

From Credit today.

 

Apparently banks have agreed to review all complaints received and contact their customers.