Jump to content


09ayesha09

Need some advice about a refund from Loans Direct and Money Warehouse

style="text-align:center;"> Please note that this topic has not had any new posts for the last 1654 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Hi there,

 

 

I will explain in as much detail as possible.

 

 

i was looking for loans and didn't realise that these two companies Loans Direct and Money Warehouse

charged for finding you a loan as they didn't specify this when I applied.

 

 

Loans Direct have taken £69.99 and

Money Warehouse have taken £27.33 from my bank account.

 

 

I phoned BARCLAYS and they told me to contact the companies for a refund. Which I did,

I was well within the 14 days to apply for a refund.

 

 

I phoned Loans Direct on the 15th July,

they said write a letter and we will refund you within 10 days.

I sent off the letter the very same day,

 

 

I heard nothing back

 

 

I phoned them back up again and asked them why I hadn't recieved my refund,

they tried selling me more bull cr*p on the phone,

 

 

it's now been 10 days and

 

 

I still haven't heard anything from them (I was told I would recieve a letter)

the only letters I have from them are ones telling me that I'm still a member!

 

 

With Money Warehouse I also did the same thing,

I emailed them a refund form.

I had an email back saying they had recieved it and I would recieve the money within 7 working days.

 

 

I emailed them yesterday asking where my money was and

they said they hadn't recieved my refund form when I have the proof and emails proving that I DID send off a refund form!!

 

 

the cheek of it.

 

 

I have contacted the obudsman and trading standards but I have heard nothing back.

I'm at my wits end,

what else can I do??

 

 

I needed that money to pay my bills and put food on my table

and they have left me broke.

 

 

Please can someone help I'm desperate.

 

 

I've saved all my emails as evidence.

Thanks.

Share this post


Link to post
Share on other sites

Hi, Speak to the relevant Loan Brokers.

 

If you advise that you are going to notify your Bank and ask for a "Chargeback" they will sit up and take notice and give you a Full Refund.

 

Hope this helps

Share this post


Link to post
Share on other sites

I don't know if you have resolved this, but here are some details of the company if anyone needs them -

They operate under various names MyMoneyGroup, Buddy Loans, Smile Finance, Money Warehouse and LifeQuotes4U are all the same company.

 

Address and phone numbers for their offices if anyone needs them, all numbers go to the same offices under their different company names -

 

Metropolitan House Station Road

Cheadle Hulme

Cheadle

Cheshire

United Kingdom

SK8 7AZ

 

Telephone numbers - 0800 690 6860, 0161 486 4809, 0800 002 9954, 0161 850 0286, 0161 486 4827

 

The office managers/owners names are Diane Wade, Guy Mackenzie, Nick Zapolski

Share this post


Link to post
Share on other sites

......just dialled the first 0800 number asking to speak with a LOANS DIRECT team only to be told "never heard of them" - so which number deals with Loans Direct please?

 

Regards

Silvercat

Share this post


Link to post
Share on other sites

Same boat!

 

I am shaking with anger at the moment having spent the last twenty minutes trying to stay calm on a call to Loans Direct after finding this morning that almost £70 has gone from my card account.

 

Yes, I applied to them on line, filled out every detail on the form (you can't progress to the next page anyway unless that's done of course!) but there, only on the final page is the information regarding the charge - however, there's still a 'cancel' button which I duly hit thinking it the end of the story - until this morning.

 

I was informed that I now need to write to Loans Direct Head Office and can expect a reply within ten days angry.gif When I asked for a phone number the adamantly stubborn response came back "we don't have one, they only deal with paperwork"

 

Now, I found it very hard to believe that such a large company cannot contact it's own head office by 'phone and - unsurprisingly - pointed out as much, asking to speak with a supervisor! A five minute line hold then took place before I was informed that 'team leaders' do not deal with phone calls either.......!!!

 

What the h**** kind of company is this?? No, no, let's not even go there!

Share this post


Link to post
Share on other sites

Hi i think i will have same trouble. I normally take out loans with lending stream. Anyway logged onto my account t apply for a new one of fifty pound and put my card details in etc. Bear in mind as far as i am aware i am still on lending stream site. Anyway clicks proceed to get my loan and nothing happened. Phone had froze so waited a bit as it always happens and then scrolled down cos it wasn't saying an thing bout my loan being transferred like it normally does. Twas then i noticed summit bout paying sixty nine pound membership fee! I was horrified. It wasn't the site i was supposed t be on! I did not do anything to get on this site and at no time did an thin say i was bein directed to a broker site, tried to press back but already gone thru. Av e mailed and wrote to them but they haven't acknowledged anything! Today two days later after e mailing them they took sixty nine ninety five out of my account! And then had cheek to text me thanking me for it! From what Av read i don't hold out much hope of getting it back!

Share this post


Link to post
Share on other sites

Hi there

 

I have had the same issue with The Finance Facility, who have today taken £79.95 from my debit. I have contacted Lloyds, my bank, and stated that I would like a chargback, which they have refused as I ticked the T&Cs when applying online to The Finance Facility, now had this back from FF:

 

I refer to your telephone call and email of today, please see the following response....

 

Firstly, I would like to say that I am sorry you have had to contact us, I will try to answer your query as full and as best that I can.

 

We do not take any payment without knowledge, permission or authorisation and a customer confirming they have agreed to our T&C's, you have electronically signed and verbally confirmed that you had read, understood and agreed to our T&C's.

 

I have looked at your account, you applied firstly on-line on the 22nd of November 2013. Our Terms & Conditions are on our website and they are very clear and precise. You had to type your full name into the box to say that you understood and agreed to them, this is before we would speak to you to finalise your application. Your putting your name in the box is a legal signature acceptance of your agreement to our Privacy Policy and our Terms & Conditions which are therefore now legally and contractually binding.

 

Our T&C's are very clear, we charge a fee of £79.95 once you have been accepted by one or more of our lenders, not when you accept a loan. I can see from our systems that you were accepted by 1PLUS1 Loans who have also informed us that they have already sent you out a loan pack by text and email, so you can quickly complete your loan, sometimes in the same day. You have also been accepted by Amigo Loans. Our systems are automatic and payment then became due and payable and was duly and correctly taken.

 

I am sorry but we are not a free service, or do we imply that we are.

 

We clearly display that we take a fee and the amount, in two separate and prominent places on our website, they are not hidden or in the small print as there is none.

 

Please re-read our terms and Conditions in their entirety, as they are very explicit.

 

I have also listened to the telephone conversation (all calls are recorded) you had with our operative when you completed your application. At the start of the call you were asked the following... "BY CONTINUING WITH THIS CALL YOU ARE CONFIRMING THAT YOU HAVE READ AND AGREE TO OUR TERMS AND CONDITIONS ONLINE", you replied with a 'positive' response, if you hadn't the operative would have said that until you have agreed, not only by electronic signature but also by verbally confirming this, the application would not then be processed and you would of been asked to go back and re-read the T&C's and only once you were happy with them and you confirmed this positively would the application then be finalised. As previously stated our T&C's specify clearly in two separate places that we charge a fee and the amount that we charge, one is in our FAQ section under "what will it cost to apply" and the other is in our "Terms & Conditions" under the heading "FEES". Prior to completing your application over the telephone, you also had to complete the agreement box (with your full name) on our website to confirm that you had read and understood our T&C's (we would not of contacted you to verbally complete your application over the telephone otherwise). You were also clearly advised by our operative that by continuing with your application you confirm that you have read and agree to our T&C's and you also verbally do acknowledge this. If you do not confirm this (you clearly did), the operative would have asked you to go back to our website and read the T&C's and only once you are happy and agree to them, to then call us back to complete your application.

 

We do state that we will check that your card account is valid by debiting a small amount (usually under 50p) and then refunding the same amount back to the card instantly. This validates that you have given us the correct information and we then continue to process your application, there is no point in us continuing with the application otherwise, as you may be giving us false information. To reiterate, you are and should be well aware prior to speaking with our operative of the charge we make, as you have already confirmed (by typing your name in the box on our website) that you have read and agreed to our T&C's and also verbally confirmed this to our operative! The following is a direct extract from our T&C's.....

 

"We will ask you for your Debit/Credit Card details, this is initially to check that you have a current UK Bank Account, by agreeing to these Terms & Conditions, you give us the authority to carry out a pre-authorisation on the account you have supplied in the sum of less than 0.50p (this pre-authorisation will then be cancelled and it will not show on your account) this is to validate your Card account details. In the event your application is processed and you are accepted for a loan by one or more of our lenders, you irrevocably authorise us to use the same Card Account & details you have provided to pay our fee of £79.95. We will only charge this fee once".

 

If you would like to hear the relevant sections of the call that you had with our operative, you can call our office between 10am & 5pm, Monday to Friday. If a supervisor is available he or she will play it back to you, if no one is free, someone will call you back as soon as they can.

 

Having read our T&C's, you will be aware that once an application has been processed, it cannot then be cancelled and that we act as your Personal Broker for a period of 6 months and we will continue to put you to any new lenders as they come on board. Also, this type of service is exempt from the The Financial Services (distance marketing regulations) 2004, the section 11.(b) of that particular Act of Parliament applies. The definitive words in your email are: "6 months". We do operate a refund policy, this is stated in our T&C's, namely in the event you do not take a financial solution in the period of the 6 months we act for you and only once this term has expired, we will refund the fee less a £5.00 admin charge. This is in full compliance with the Consumer credit Act 1974, section 155. In accordance with our T&C's you have to write (they do not accept emails, faxes or telephone calls) to the refunds department when the term has expired to: The Refunds Department, P.O. Box 215, Prescot, L35 1WA. They can take up to 21 days to refund any money due. In the event you have taken a loan in the exclusive 6 month period with anyone, they are not then obliged to refund anything.

 

WE ONLY CHARGE THE ONE FEE. We do not store Card details, once the Card details are taken they are kept securely until the payment has been processed and then they are removed and only the Bank has a record of them. We also only ever take one fee, so you can be assured we do not and will not apply for any other payments from you.

 

Do I have any recourse?

Share this post


Link to post
Share on other sites

hey there... i had the same experience with a couple of these companies a couple times... and i remember how i resorted to the drawing board and was planning how the hell im gonna get halfway across england to pay these guys a visit... but after a few heated conversations in which i stated i didnt care whether or not i read the terms and conditions properly and boasting that i have nothing to lose and probably threatening murder once or twice i painstakingly got my money back... AND ALSO JUST MAKE SURE YOU TELL THEM THAT YOU HAVENT RECEIVED A LOAN FROM ANY COMPANY SO YOU ACTUALLY HAVENT GOT WHAT YOUVE PAID FOR ANYWAY SO YOURE ENTITLED TO A REFUND. ALSO, IT COSTS £50 (IN ENGLAND) TO TAKE ANYONE TO SMALL CLAIMS COURT(TELL THEM THIS) AND EVEN IF THEYRE LEGALLY ALLOWED TO TAKE YOUR MONEY, JUST REMIND THEM THAT YOURE ENTITLED TO 'LEGAL AID' AND THEYRE NOT SO THAT MEANS THEYLL HAVE TO COVER THEIR OWN LEGAL FEES WHICH WILL BE ASTRONOMICAL ANYWAY, SO THEYD BE BETTER OFF PAYING YOU BACK, AND IF THEY DONT TURN UP THEN THEYLL HAVE TO PAY £50 FOR COURT PLUS YOUR LEGAL FEES PLUS THE MONEY WHICH YOURE TAKING THEM TO COURT FOR and thats the truth so theyd be better off paying you back anyway. and remember... no 'umming' and 'aahhing' and make sure you know what youre saying, and speak loudly, clearl and passionately. Ive used this 'court talk' all my life for a whole load of things and its always worked.

Share this post


Link to post
Share on other sites

If you want to get in touch with this appareling company without them taking more money from you, copy and paste the number on the site and enter into SAYNOTO08 it will be a free call.

Share this post


Link to post
Share on other sites
......just dialled the first 0800 number asking to speak with a LOANS DIRECT team only to be told "never heard of them" - so which number deals with Loans Direct please?

 

Regards

Silvercat

LOANS DIRECT - the ONLY working number (thanks to http://www.saynoto0870) is 020 3432 8019 - I asked what is their refund policy - all she would say is, phone them, if you have problems logging in (you will have) they will get you back online, you fill in a form following their guidelines. good luck - I'm in the process..need ideally their address for recorded delivery letter as well. Anyone got it?

Just answered my own question..it's both the refunds dept, P.O.Box 215 Prescot Liverpool L35 1WA ans Customer Services, The Finance Facility, P.O. Box 215 Prescot L35 1WA

Share this post


Link to post
Share on other sites

Loans direct have two addresses but the main address to use is their registered office.

 

Loans Direct Uk

7 St. Petersgate

Stockport

Cheshire SK1 1EB


If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

Share this post


Link to post
Share on other sites

Head office Loan Direct Paragon Housse 48 Seymour Grove Manchester M16 OLN Registerd office is Loan Direct uk Ltd 7 St Petersgate Stockport Cheshire SK1 1EB ph number is 020 3432 8019. Have fun! by the way, spoke to helpful guy at the F.C.A. - yes, he confirmed that, contrary to what Loan Directs own t & c state, namely- this type of service is exempt from the The Financial Services (distance marketing regulations) 2004, the section 11.(b) of that particular Act of Parliament - is not true. IT DOES APPLY TO THEM,! confirmed by the F.C.A.

Share this post


Link to post
Share on other sites

Hi all.

 

The conduct and practices of Loans Direct are a complete disgrace. Last week I applied to them for a loan believing that they were a loan provider whereas, in fact, they are nothing more than a broker. I paid a £69.75 administration fee only to find that all I got for my money was a list of loan providers whose details are readily available on-line for free..!!

 

What's worse, Loans Direct supplied my debit card details to another company called My Loan Now who also took £67.88 from my bank even though I've never heard of them.!

 

Apparently, according to my bank, there's nothing illegal about this practice..!!

 

Anyhow, after speaking to the Citizens Advice Bureau, I've written to both Loans Direct and My Loan Now (using recorded delivery) quoting Section 155 of the Consumer Credit Act asking for a full refund less £5.00 administration fee which I'm legally entitled too as long as I put the request in writing within 14 days.

 

I'm awaiting their replies......

Share this post


Link to post
Share on other sites

Hi, i also stupidly applied to Loans direct and had 3 lots of money taken out of my bank from Loan direct,loan wizard and loans now. I read up and realised i had a major problem if i was to get my money back as i had realised i did not want loans with an of them due to high interest etc. It was hard to follow the application process as lots of pages were then opening with 'loan offers'.

 

I did everything they all asked with the forms and within two days sent them all off recorded delivery (you must do this) as they will say they haven't received them. I then got the texts saying they have received my cancellation request this was from loan wizard and loan direct i heard nothing from loans now.

 

Next day i got the standard 'we are unable to offer the full refund due to a months payment of credit cleaner and £1 a day for membership even though it stated 0 days! The offer was £45+

 

**Ring your bank and tell them to stop any continuous payments for credit cleaner, they will do this**

 

I was fuming by this time as this money had caused me to miss dd in my account so i actually rang them and said the following; " I have today spoken to the financial ombudsman who advised me that you are only allowed to take £5 admin fee and i want the rest putting in my bank. The advisor then said to hold on while i put you through to an account Manager his name is Chris Williams. I repeated everything i had said to the advisor and told him that my complaint was lodged and he seemed to get flustered. He then went on to say that he will immediately issue a full refund minus the £5.

I then got a text actually stating this had happened and my account also said the same. Same thing happened next day with loans direct and again was put through to Chris but i think he recognised my voice and hung up! I then rang back and said i was speaking to the manage and was cut off and she said you have been refunded in full!

 

I still didn't dare to hope until i saw the money in my account and two days later it was there The Next day Loans now also refunded me, so all 3 have refunded. I probably could have argued about the £5 as i cancelled well within the 14 days but after reading about lots of people not even getting theirs back i was very relieved.

 

So anyone still being messed about by these companies say exactly what i said do not mess about and you will get your money back.

 

Hope this helps

Share this post


Link to post
Share on other sites

This information helped me to get my refund, in full;

 

 

1) once you have been on their site and have put in your details and credit card details

they will try to take up to £69 asap from your account ,

or as soon as there is enough money in your account to cover it ,..

 

2) they don't promise you a loan ,

they dont even guarentee you a loan ,

AS THEY ARE BROKERS..

 

all they actually do is once you have phoned into complain that a fee has been taken ,

they fob you off , if its the loan you still want all they do is copy and paste a link off there systems

and send it to your email or phone , WHEN u could have easily got the same link off google yourself ,

 

then you have to put all your original details into the link again they sent you ,

which you could have easily done yourself anyway .

 

3) the fee they take means that once you contact them they will tell you the following ,

yes a admin fee has been taken ,

and yes there is a fee for opening your account

and there will also be a fee for everyday the account is kept open ,

despite this you will never get a full refund this way .

..you will only get a partial refund ..

 

4) next to get a refund they will tell you to go on your account and request a refund ( which is a delaying tactic)

because they will then tell you you have to wait for a head office response to your cancellation

(which is complete rubbish , its yet another delaying tactic ,which keeps your account open longer and more fees to be taken),

 

5) after you have then requested a refund they will then tell you to send a letter in to the head office ,

which is YET another delay tactic to keep more fees ,

 

 

 

6) if they ask you to send the letter to any other address then its a [problem] , its again a delay tactic , to keep more of your funds .

 

7) they hate the word CHARGE BACK , if you go to your bank and tell them a fee has been taken out that you were not aware of ,

they will they tell the bank , you did open an account on a certain day and time and they only person who would have gained is yourself ,

because the money would have gone into your account ,

 

THE BEST WAY to deal with these con artists is the following RING UP there number or your bank

and tell them you want an instant charge back ,

 

if you persist with this you will get a full refund ,

Share this post


Link to post
Share on other sites
Hi there, I will explain in as much detail as possible. Basically I was looking for loans and didn't realise that these two companies Loans Direct and Money Warehouse charged for finding you a loan as they didn't specify this when I applied. Loans Direct have taken £69.99 and Money Warehouse have taken £27.33 from my bank account. I phoned BARCLAYS and they told me to contact the companies for a refund. Which I did, I was well within the 14 days to apply for a refund. I phoned Loans Direct on the 15th July, they said write a letter and we will refund you within 10 days. I sent off the letter the very same day, I heard nothing back so I phoned them back up again and asked them why I hadn't recieved my refund, they tried selling me more bull cr*p on the phone, it's now been 10 days and I still haven't heard anything from them (I was told I would recieve a letter) the only letters I have from them are ones telling me that I'm still a member! With Money Warehouse I also did the same thing, I emailed them a refund form. I had an email back saying they had recieved it and I would recieve the money within 7 working days. I emailed them yesterday asking where my money was and they said they hadn't recieved my refund form when I have the proof and emails proving that I DID send off a refund form!! the cheek of it. I have contacted the obudsman and trading standards but I have heard nothing back. I'm at my wits end, what else can I do?? I needed that money to pay my bills and put food on my table and they have left me broke. Please can someone help I'm desperate. I've saved all my emails as evidence. Thanks.
Hi, I can very happily say "YES" Eventually the refund from Loans Direct appeared into the bank account. After endless perseverance, both from me, and the Ombudsman. First I filled in an online form for the Ombudsman, then I sent it off with ALL relevant evidence. Waited, and waited. The time for L.D. to respond eventually ran out, after them informing the Ombudsman that they would refund it. They were given a final ultimatum of another 14 days, before it would be taken further, then just before that date, it went in. Yippeee - honestly, persevere & it will pay off. Maybe phone the Ombudsman - you should be given/have been given a ref. number to quote as well, for when you submit everything. Enclose all your evidence right at the beginning as it's a time saver. ALSO I was ripped off by a number of them - loan wizard ..loans gogo, loanzoo - I went throiuygh a different route for them, wrote directly to the bank (Halifax) - they didn't want to know, saying it was my fault..and they have a different criteria to follow etc. RUBBISH! they MUST follow the guidelines of the F.C.A. which clearly state it is for the banks to prove that you were negligent, and that for you to have given your dtls is not actually proof you acted irresponsibly. Got over £400 refunded eventually..(chargeback ) but they are MOST reluctant to do it. Again, it is PERSEVERE, refer to F.C.A. rules about it. It takes time - a lot of time - but eventually it is worth it :))

Share this post


Link to post
Share on other sites

Hope you got your refund..that isn't the proper address, I googled the postcode as I live nearby & was going to call in there!! I sent a recorded delivery letter to the 7 St Petersgate address, but they just ignored it. Which gave me the ammo needed to contact the Ombudsman, who, after 2-3 long months, eventually got it back for me:)) I printed off proof of delivery, and enclosed it with all "screen shots" of their stupid answers, along with their offer of "we have another loan ready for you"..!!!

Share this post


Link to post
Share on other sites

First, contact the Ombudsman - they really do a great job - enclose evidence, detail it well - state it is now more than 6 months since you first complained to the company requesting a refund, & they have not responded. Also state your details had been forwarded on without your permission or knowledge to another site. That's the first criteria. The second thing is, please take it kindly, is that as long as those companies are used, they will get rich and the borrowers become poor and stay poor. Stepchange are a brilliant debt help charity, and they do not charge. They contact all the companies that are owed money to, and often the interest gets frozen & repayments are affordable and according to your income. Hope this helps.

Share this post


Link to post
Share on other sites

ok so i have finally got my refund back from Loans Direct on the contact number 0844 823 7960 as i had called a company that was listed in a thread about My Money Group they are not connected but the lady i spoke to at My Money Group was very helpful and gave me the above number.

 

After holding for about 40 minutes i finally spoke to someone at Loans Direct 0844 823 7960 and demanded a refund and advised i would come to there office 7 St. Petersgate, Stockport, Cheshire, SK1 1EB. if i didnt get my money back with this i received a bank transfer for the full amount.

 

Hope this helps everyone

Share this post


Link to post
Share on other sites

this thread is now closed

 

 

please start a new thread

 

 

of your own.

 

 

dx


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

Share this post


Link to post
Share on other sites

anyonee after refunds should be demanding it from their bank under the below details from the FCA.

 

 

GENERAL NOTES ON CHARGEBACK & Continuous Payment Authority & BACS

.....

We have been telling people to put a letter into their bank instructing them

not to make any payments under any circumstances to these companies

.

http://whatconsumer.co.uk/visa-debit-chargeback/- it works!

usually this should be done using the number on your debit card

.

banks MUST follow written intructions from their customers !

.

This fsa guide has now been updated:

.

http://www.fsa.gov.uk/static/pubs/consumer_info/know_your_rights_guide.pdf

http://www.fca.org.uk/news/continuous-payment-authorities-your-right-to-cancel

.

Here's the text:

.

Cancelling a regular

card payment:

.

When you give your credit or debit card details to a company and authorise them to take regular payments from your account,

such as for a gym membership or magazine subscription,

it is known as a ‘recurring transaction’ or ‘continuous payment authority’.

.

These are often confused with direct debits, but do not offer the same guarantee if the amount or date of the payment changes.

.

In most cases, regular payments can be cancelled by telling the company taking the payments.

.

However,

you have the right to cancel them directly with your bank or card issuer by telling it that you have stopped permission for the payments.

Your bank or card issuer must then stop them – it has no right to insist that you agree this first with the company taking the payments.

.

Be aware, though, that you will still be responsible for paying any money that you owe.

and that CANELLING YOUR CARD WILL NOT STOP THE CPA

.

..

.

New june 2013

.

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 lendersicon or for other regular payments such as subscriptions or gymicon 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.”

.

.

Also mentioned your displeasure that as whomever took your money had obviously attempted this many times

probably activating your banks own anti fraud software - nobody had the decency to inform my you this was going on.?

.

.In the FSA's own words:

.

..

What should I do about a payment from my account that I didn’t authorise?

.

Your bank must refund an unauthorised transaction.

Money can only be taken from your account if you have authorised the transaction

or if your bank can prove you were at fault –

.

see below.

Contact your bank immediately if you notice an unauthorised payment from your account.

.

If you are sure you did not authorise the payment, you can claim a refund.

.

However, your bank does not have to refund you if you do not tell it about the payment until 13 months

or more after the date it left your account.

.

Your bank must refund an unauthorised transaction

.

------------------

.

Your bank may only refuse a refund for an unauthorised transaction if:

.

? it can prove you authorised the transaction

– though your bank cannot simply say that use of your password,

card and PIN proves you authorised a payment; or

.

? it can prove you are at fault because you acted fraudulently,

or because you deliberately,

or with gross negligence, failed to protect the details of your card, PIN or password in a way that allowed the transaction

.

-----------------------

.

How quickly must my bank refund me for an unauthorised transaction?

.

The bank must make the refund immediately unless it has evidence that one of the above reasons applies.

Your bank may ask you to answer some questions and fill out a form confirming what has happened,

but it cannot delay your refund while it waits for you to return the form.

If the bank has evidence that one of the above reasons for refusing a refund applies,

it may investigate before making a refund

but must look into it as quickly as possible.

If your bank rejects your claim for a refund it should explain why.

If the transaction was on a credit card, the refund may not happen immediately.

But the card issuer cannot charge interest or ask for repayment of the amount unless it can prove you are liable to pay


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

Share this post


Link to post
Share on other sites
ok so i have finally got my refund back from Loans Direct on the contact number 0844 823 7960 as i had called a company that was listed in a thread about My Money Group they are not connected but the lady i spoke to at My Money Group was very helpful and gave me the above number.

 

After holding for about 40 minutes i finally spoke to someone at Loans Direct 0844 823 7960 and demanded a refund and advised i would come to there office 7 St. Petersgate, Stockport, Cheshire, SK1 1EB. if i didnt get my money back with this i received a bank transfer for the full amount.

 

Hope this helps everyone

 

Yes but if you are calling 0844 numbers for 40 odd minutes that must cost a fortune?? Thatscwhy I'm reluctant to ring that number.

Share this post


Link to post
Share on other sites
Yes but if you are calling 0844 numbers for 40 odd minutes that must cost a fortune?? Thatscwhy I'm reluctant to ring that number.

 

 

better you start a new thread

 

 

of your own.

 

 

dx


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

Share this post


Link to post
Share on other sites
style="text-align:center;"> Please note that this topic has not had any new posts for the last 1654 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you
Guest
This topic is now closed to further replies.

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...