Can I cancel direct debit?

libra10

I recently purchased a laptop from Dixons, and in order to receive a discount signed up for 12 months interest free credit with HFC Bank.
Yesterday (18th December) I sent off full payment by first class recorded delivery. The first DD payment is due to be taken on the 27th December. Can I now cancel the direct debits or should I wait till nearer payment date?
Thanks for any help with this

Walletwatch

It may be worthwhile waiting for a confirmation of receipt of funds and if you've sent a chq, wait for the debit to take place to your account, or if you can confirm with Dixon's that the payment has been received.

Martinslovechild

It may be worthwhile waiting for a confirmation of receipt of funds and if you've sent a chq, wait for the debit to take place to your account, or if you can confirm with Dixon's that the payment has been received.

Agreed.

Libra - phone Dixons and ask them for the balance on the account. When/if they say £0, confirm that no payment will be taken on the 27th and cancel the Direct Debit with your bank (you may be able to do this through your bank's internet portal; if not, then phone them up).

Happy Christmas!

libra10

Thanks very much for your replies. That was very much as I thought. It's just that I didn't want HFC to take the first payment and have to wait for it to be refunded.
Thanks everyone

johnllew

Any reason why you don't want the 12 month interest-free credit? Just seems strange for a moneysaver to pay it all off now, when you don't need to.

libra10

It's just that I thought, possibly I wouldn't receive a reminder from HFC when interest free period was up and I may forget. Then I would be saddled with mega interest, which almost doubles the price of the computer.
Call me suspicious ...

Jay-Jay_4

Thanks very much for your replies.  That was very much as I thought.  It's just that I didn't want HFC to take the first payment and have to wait for it to be refunded.
Thanks everyone

Hi,

Under the DD guarantee scheme your bank should refund you immediately upon your phonecall. They then chase up the indemnity to claim the money back. You shouldn't have to wait for a refund.

Some DDs are only set up when the company make the first claim. Your bank may be able to put a marker on your account to stop the DD from being set up or they may ask you to phone back nearer the time to cancel.

hth x

Edited to add: You should receive a confirmation from your bank when the DD is set up. Some banks ask that you wait for this confirmation before ringing to cancel.

Martinslovechild

Yes - it might be worth phoning them rather than sending a cheque and asking to pay via Debit card instead. At least that way, you know that the payment's been taken by an operator rather than lost in a post room somewhere...

libra10

I have heard horror stories such as these and wanted initially to pay upfront for the computer. It was when (in good moneysaving style) that we asked for discount that we suddenly found ourselves signing up for interest free credit. No credit no deal!
The salesman at Dixons added a Belkin router and laptop card at a very reduced price, so we agreed.
But basically we had been saving for the computer and the money was in a current account ready for payment.
Thanks everyone for your help, you've been great.
Merry Christmas and happy New Year
Frankie

Debt_Free_Chick

Thanks very much for your replies.  That was very much as I thought.  It's just that I didn't want HFC to take the first payment and have to wait for it to be refunded.
Thanks everyone

I rather suspect that you won't have time to cancel the payment due on 27th December. You would normally have to give 3 days notice to prevent the DD going into the banking system, so you would need to get Dixons to cancel the DD tomorrow, at the latest.

If you want to prevent payment being made on 27th, your best bet is give the instruction to your bank i.e. instruct them not to honour it. Again, you need to do this soon, due to the Christmas closure. If you do this, you may "incur the wrath" of HFC, but you could simply tough this out, on the basis that you have settled the debt.

No easy way, I fear, purely due to closure of the banking system over Christmas.

Good luck, whatever you decide to do.

libra10

Thanks very much for information.
Decisions, decisions ...
Do I cancel the DD and incur the wrath of HFC?
Or check whether the payment is taken and request immediate reimbursement from bank?
My birthsign is Libra, librans don't do decisions ...