stop a payment to a company coming out of bank account?

BFem
BFem Posts: 142 Forumite
First Post First Anniversary Combo Breaker
in Budgeting & bank accounts
Hello - i've tried searching all over for an answer to this but can't seem to find anything.

Does anyone know if you can stop a payment coming out of your bank account if you have paid for something online?

Basically we've realised we've been ripped off but payment hasn't come out yet, so want to see if we can stop it being taken.

Thanks all :beer:
'It is better to live your own destiny imperfectly than to live an imitation of somebody else's life with perfection' Elizabeth Gilbert.

:j
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Comments

  • Accountant_Kerry
    Accountant_Kerry Posts: 628 Forumite
    Name Dropper First Post First Anniversary
    i take it you are talking about a card payment rather than a bank transfer?

    you need to speak to your bank asap, they may be able to decline the transaction. if not you will have to instigate a 'chargeback' under the visa or mastercard scheme, again your bank can facilitate this.
    Mar 24 - Mortgage Balance £249,794.45
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  • BFem
    BFem Posts: 142 Forumite
    First Post First Anniversary Combo Breaker
    Accountant_Kerry wrote: »
    i take it you are talking about a card payment rather than a bank transfer?

    you need to speak to your bank asap, they may be able to decline the transaction. if not you will have to instigate a 'chargeback' under the visa or mastercard scheme, again your bank can facilitate this.

    Thanks Kerry, shouldve just called the bank and ask them directly.
    'It is better to live your own destiny imperfectly than to live an imitation of somebody else's life with perfection' Elizabeth Gilbert.

    :j
  • iereboy
    iereboy Posts: 415 Forumite
    If the money is already earmarked, under most circumstances the bank cannot cancel it.

    If the money is not earmarked, you may want to cancel the card and get another sent out.
  • somethingtypical
    somethingtypical Posts: 32 Forumite
    Get the card stopped immediately.
  • BFem
    BFem Posts: 142 Forumite
    First Post First Anniversary Combo Breaker
    Yes iereboy and something, I never thought about cancelling the card - that should work shouldnt it......... i'll ring them to cancel the card. I wonder why they didnt mention that when I called to say that we think we've been ripped off by an illegitimate company?
    'It is better to live your own destiny imperfectly than to live an imitation of somebody else's life with perfection' Elizabeth Gilbert.

    :j
  • rb10
    rb10 Posts: 6,334 Forumite
    BFem wrote: »
    Yes iereboy and something, I never thought about cancelling the card - that should work shouldnt it......... i'll ring them to cancel the card. I wonder why they didnt mention that when I called to say that we think we've been ripped off by an illegitimate company?

    If the transaction has already been authorised (using the old card) then it will still go through, even if you cancel the card.

    Both the old and new cards are linked to your account.

    If it is a Visa Debit card, then you will need to speak to your bank about a 'Chargeback'.
  • BFem
    BFem Posts: 142 Forumite
    First Post First Anniversary Combo Breaker
    rb10 wrote: »
    If the transaction has already been authorised (using the old card) then it will still go through, even if you cancel the card.

    Both the old and new cards are linked to your account.

    If it is a Visa Debit card, then you will need to speak to your bank about a 'Chargeback'.

    We've just called the bank again and because we paid online using the long card number rather than the sort code and account number, theyve said the payment won't go out, other than the fact that the payment isn't showing as pending etc. So hopefully will be ok. Thanks for your help and advice, really appreciated.
    'It is better to live your own destiny imperfectly than to live an imitation of somebody else's life with perfection' Elizabeth Gilbert.

    :j
  • rb10
    rb10 Posts: 6,334 Forumite
    BFem wrote: »
    We've just called the bank again and because we paid online using the long card number rather than the sort code and account number, theyve said the payment won't go out, other than the fact that the payment isn't showing as pending etc. So hopefully will be ok. Thanks for your help and advice, really appreciated.

    Just check your account carefully ... I don't believe them!
  • BFem
    BFem Posts: 142 Forumite
    First Post First Anniversary Combo Breaker
    rb10 wrote: »
    Just check your account carefully ... I don't believe them!

    Haha, yes I will thanks. I think you're right not to believe them - we will be checking very carefully!
    'It is better to live your own destiny imperfectly than to live an imitation of somebody else's life with perfection' Elizabeth Gilbert.

    :j
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Name Dropper First Post First Anniversary
    BFem wrote: »
    We've just called the bank again and because we paid online using the long card number rather than the sort code and account number, theyve said the payment won't go out, other than the fact that the payment isn't showing as pending etc. So hopefully will be ok. Thanks for your help and advice, really appreciated.
    Everybody paying online using a debit or credit card uses the long PAN number.
    Nobody commercially uses sort codes and account numbers unless you set up a direct debit.

    Remember to cancel the order and keep a screen print of this as well as check your bank statement.
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