Setanta Sports battles for survival: how to protect your payments

scotsbob

Any payments made after a company goes into administration have to be returned by the administrators, as happened with Ondigital.
Anyone who has paid before that time joins the list of creditors.

If however, a last minute buyer turns up and keeps the company running then anyone having cancelled their subscription could find they were in breach of their contract.

macman

Pondskater wrote: »

Seems a bit much that you cannot cancel a recurring payment from your own bank account. Are they taking it directly from the account or through your card and if through your card would it be stopped if you 'lose' that card and request a new one? Hope I am making sense here.

If it's from your bank account its a DD or SO. If it's from your debit or credit card its a recurring debit.
I agree with you, but that is how it works and why I never use them myself.
Yes, getting your card reissued might be a way to prevent this.

macman

Timotheus wrote: »

Sorry, I didn't explain myself properly (I was watching the end of the cricket on the blummin' fantastic Sky Sports =D


How do I go about canceling my payments to Setanta IF they go into administration? I pay them on a month to month basis on my credit card. Would I have to contact my bank to stop them paying Setanta?

Your bank don't pay Setanta-your credit card company do. You cannot cancel a recurring debit, only the payee can, so you'll have to wait for the administrators to sort it out.

Pondskater

They took the payment last year on the 13th June so it is due next week. :eek:
What if we close the account and emigrate to China or something, can they still get it?

Timotheus

macman wrote: »

Your bank don't pay Setanta-your credit card company do. You cannot cancel a recurring debit, only the payee can, so you'll have to wait for the administrators to sort it out.

My bank is Natwest and my credit card is Natwest. That's probably why my post sounded confusing.

Pondskater

Maybe the question I should be asking is - is it likely that a company that goes into administration tomorrow morning will continue to take money from peoples accounts for a service that they will no longer provide?

macman

Timotheus wrote: »

My bank is Natwest and my credit card is Natwest. That's probably why my post sounded confusing.

OK, same principle applies though. You can only stop a DD or DO, not a credit card payment. Your CC will be handled by Visa or Mastercard in efffect.

tvwatcher

scotsbob wrote: »

Any payments made after a company goes into administration have to be returned by the administrators, as happened with Ondigital.
Anyone who has paid before that time joins the list of creditors.

If however, a last minute buyer turns up and keeps the company running then anyone having cancelled their subscription could find they were in breach of their contract.

This ^^^^ looks about right

amk151

Warning to everyone.

Whilst the advice to switch to Direct Debit is valid it just want to warn you what happened with On Digital many years ago.

About 2/3 months before they went bust they 'mistakenly' took an extra months payment out of my account. When I contacted my bank they notified me that I was not the only one, seems they had thousands of complaints. It would seem that they did this to most of their customers. Whilst it was only £10 to me if they had 100K customers (can't remember how many they had) that would be a million in cash flow to them. Also as the DD guarantee scheme was not in place at the time. I only got 'credit' on the tv channel. useless if they go bust. Once bitten twice shy.

The problem with DD is you are essentially signing upto them taking any amount of money at any time out of your bank account (so long as they tell you first). The DD protection scheme helps you somewhat but not sure how it would work if they go bust. Guessing you join the long line of creditors

Kavanne

amk151 wrote: »

Warning to everyone.

Whilst the advice to switch to Direct Debit is valid it just want to warn you what happened with On Digital many years ago.

About 2/3 months before they went bust they 'mistakenly' took an extra months payment out of my account. When I contacted my bank they notified me that I was not the only one, seems they had thousands of complaints. It would seem that they did this to most of their customers. Whilst it was only £10 to me if they had 100K customers (can't remember how many they had) that would be a million in cash flow to them. Also as the DD guarantee scheme was not in place at the time. I only got 'credit' on the tv channel. useless if they go bust. Once bitten twice shy.

The problem with DD is you are essentially signing upto them taking any amount of money at any time out of your bank account (so long as they tell you first). The DD protection scheme helps you somewhat but not sure how it would work if they go bust. Guessing you join the long line of creditors

Yes but you can call your bank to cancel a direct debit and then that's the end of that!