Chargeback question regarding a payday loan error

[thedryad]

Hi all,

A while back I took out a payday loan, and paid it back on the day it was due. No problems,

 

I was aware of the charges and the interest etc.

 

It was a week ago that I paid the whole amount off and got a text from them to confirm this.

 

Today I noticed that they've taken two payments of £25 from my Barclays debit card yesterday!

 

My question is,

can Barclays reverse these transactions?

 

How do I do this?

 

As a side note please no negative comments about payday loans,

 

I was well aware of what I was doing and I had a genuine reason for taking it out.

Thank you.

[dx100uk]

CPA....

 

 

We have been telling people to put a letter into their bank instructing them not to make any payments under any circumstances to these companie

.

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

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banks MUST follow written intructions from their customers !

.

This fsa guide has now been updated:

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http://www.fsa.gov.uk/pubs/consumer_...ghts_guide.pdf

.

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,

y.ou 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.

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see: http://www.consumeractiongroup.co.uk/forum/showthread.php?336569-How-to-remove-a-lender-s-continuous-payment-authority(2-Viewing)-nbsp

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http://www.fsa.gov.uk/pages/consumerinformation/product_news/banking/know_your_rights/solving/index.shtml

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http://www.theguardian.com/money/2012/feb/24/continuous-payments-authority-know-your-rights?newsfeed=true

..

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New june 2013

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

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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.

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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.

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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.”

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http://www.ftadviser.com/2013/06/28/...J/article.html

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

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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.?

[thedryad]

Right so can you just clarify please will they refund the 2 £25 transactions please? My question was about a refund not about stopping a future payment. Thank you.

Edited December 11, 2013 by thedryad
Typo

[dx100uk]

read it properly,

its been done by a CPA

 

when you cancel the CPA, the bank must refund see the bottom blue link

 

dx

[adamski]

Yes, if you dispute the payment, talk to the banks fraud or debit card dispute team.

[thedryad]

Yes I'm trying to read it through properly but I'm confused, so can you please summarise?

[thedryad]

Thank you adamski.

[renegadeimp]

Be aware, your bank will refuse or try and say it takes 30 days etc. Stand your ground. They can do it immediately.

[thedryad]

Be aware, your bank will refuse or try and say it takes 30 days etc. Stand your ground. They can do it immediately.

Thank you do you have any legal clause/quote?

[dx100uk]

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

[thedryad]

Anybody had any similar experiences? How long did it take to get your money back?

[dx100uk]

its should be instant.

 

go do some reading in the payday loan forum.

 

dx

[thedryad]

Thank you.

[renegadeimp]

Thank you.

 

Youre wasting your money.

[thedryad]

Youre wasting your money.

 

Yeh very helpful, thanks!

[thedryad]

Not that I need to explain, but the reason I took out this payday loan is because the gauge on our oil tank broke - we didn't realise until it got so low that we needed to order more oil, and we didn't have enough money. It was either that or have no hot water or heating in the freezing weather. Thanks, though, for your support and very mature reply.

[fkofilee]

Dont Worry

 

I think Imp was being Sarcy, hes a good guy honest

We advise to stay away from PDL companies... Who is the company in question?

[slick132]

Hi Dryad,

 

Just tell the bank in writing that the amounts taken were in excess of the agreed amount, that the loan was repaid in full and the payments were taken without your knowledge or approval.

 

They should refund to your account quickly and you should NOT have to wait for them to investigate.