Recurring Payments Warning! discussion

dalesrider

loulourocks3004 wrote: »

So i just called my bank to cancel a Recurring Paymetn Authority and they told me they can try but its unlikely it will be succesful! I thought they were legally bound to do this? I now cant use that bank account because they are unwilling to do this. He said that even if i move to another bank account with a different institution that the company would still find me and take the money!! I told him i think he is wrong and he said he isnt! I am utterly disgusted with Lloyds and obviously they are not trained as they should be on these issues. I have no idea what to do now. I have written a complaint to Lloyds, however i need this cancelled asap. Any advice?

At present as far as we are aware No bank/card provider has a system to stop these payments.
Yes they can write to the retailers merchant bank.
Yes they can update visa/mastercards systems that list some of these retailer to mark a stop. (funny but the worst retailers seems to have removed themselves from these)
You can also tell the retailer (we know they often ignore this) and have been doing chargeback on thos basis for years.....

The problem is that the retailer just ignores all this and still reclaims money.

The FSA seems to think that banks can come up with a system that will link individual cards/customers to individuall retailers and block future payments. Overnight.
Work is ongoing on these, but it is such a complex system, that will require a lot of testing or it could halt the whole payment processing systems.
Something I'm sure no one wants....
Goood old FSA.... Yet they will do nothing about the retailer that ignore not only a customer instruction, but also a banks....

As a customer you have done all you can. So long as you have also contacted the company concerned.
As such you have no reason to stop using your account. All you need to do is monitor and if you see another debit to this co. Call then and you will be credited and the money claimed back from the co.

If it was a CPA, then closing hte account won't work.
Lloyds will just reopen it...
Remember yo uhave agreed to the contract and as such have a duty to contact the retailer....

As far as the FSA go. NO contract is worth the paper it is written onto. That even goes for the one that banks and retailers signed when they agreed to use the Visa/mastercard systems.

grumpynotoldman

Registered on a website and thought I'd bought access to some extra content, only to discover website beyond opening page was defunct.
Tried to contact, web hosting service, page running email( didn't work) internal contact form (no reply) and then got onto bank.
Discovered all about differences between DD/SO/CPA.
Doh! I am 58! should I know all this?
Asked them to stop payments as no service delivered & 'cos I suspected FRAUD!"deliberate attempt to get monetary advantage by not providing service or goods!"
Amazed to discover (as above) no mechanism in place (this thread dates back to 2009 when problems were rife, have they been asleep, this must cost them fortunes) to stop CPA.
There wasn't any thing on the payment page of the website to say it was CPA, & until reading this I didn't know that all online & phone transactions that take card number are CPA!
In fact until I read this thread, (thank goodness for Moneysaving expert) I considered myself quite savvy with online & phone transactions as I had set up a special card & account with limits etc.
This all happened in July 2012 & I had to WRITE in Pen on Paper which I put in an Envelope, with a Stamp, which then went via the Royal Mail to a POBOX number (so I used Recorded Delivery!!!!).
Letter back saying they would investigate "Dispute".
I now know this means I got through to "Disputes team" as I said I wanted names & telephone numbers to report Fraud to Police!
They said I could inform Police, but that Banks & Visa were experienced at handing these "issues" & could guarantee resolution if "service" was demonstrably not working.
They said time limit for resolution was 45 days!
Unbelievable in this so called digital age.
56 days after letter arrived I was filing it and decided to ring number given to chase it up as payments were still going out of my account (£5 per month doesn't seem much but now amounts to £35)
Automated system took 38 different automatic options to get through to human person with voice & brain & some experience.
Bank (CoOp) worker said he'd chase it up & did so while I listened to the same very bad song several times.
He advised me about what everyone has written on here (can't believe I didn't come here in the 1st place).
Payment has now been "tagged" .
Each time a payment goes out, they "manually" get it back and credit to my account.
This will go on FOREVER!
Visa/Paypal have no mechanism to contact "retailer"
The relationship with the retailer is between them & you.
Banks are just intermediaries.(WHAT?)
Retailer(who could be a sole trader/individual/web entity) could actually die and accumulate a fortune after death just from the fact that these CPA's can only be stopped by them.
And Banks want us to let them remain unregulated so they can operate efficiently.
Yeah !! (apologies to Modern Toss!)
I have no idea how the £$sales online continue to grow when so many people discover how this SCAM / Fraud works.Oh!

Arthurian

There wasn't any thing on the payment page of the website to say it was CPA, & until reading this I didn't know that all online & phone transactions that take card number are CPA!

Is that right? All online and phone transactions that take a card number are continuous payment authorities? If so, it's horrendous!

grumpynotoldman

I just read about it here!
http://www.moneysavingexpert.com/banking/recurring-payments
"in the loop" so to speak:rotfl:

Arthurian wrote: »

There wasn't any thing on the payment page of the website to say it was CPA, & until reading this I didn't know that all online & phone transactions that take card number are CPA!

Is that right? All online and phone transactions that take a card number are continuous payment authorities? If so, it's horrendous!

grumpynotoldman

and this! http://www.guardian.co.uk/money/2012/feb/24/continuous-payments-authority-know-your-rights :T

grumpynotoldman wrote: »

I just read about it here!
http://www.moneysavingexpert.com/banking/recurring-payments
"in the loop" so to speak:rotfl:

dalesrider

grumpynotoldman wrote: »

Registered on a website and thought I'd bought access to some extra content,

Adult related ?

grumpynotoldman wrote: »

Doh! I am 58! should I know all this?

Asked them to stop payments as no service delivered
Amazed to discover (as above) no mechanism in place to stop CPA.

Just to make it clear a CPA is a agreement between YOU and RETAILER. bank has NO mandate in this.

grumpynotoldman wrote: »

There wasn't any thing on the payment page of the website to say it was CPA, & until reading this I didn't know that all online & phone transactions that take card number are CPA!

Back to learning NOT ALL telephone & internet payments are CPA's. Only ones that state so.
I bet had you checked the T/C it would state as such in there.

grumpynotoldman wrote: »

This all happened in July 2012 & I had to WRITE in Pen on Paper which I put in an Envelope, with a Stamp, which then went via the Royal Mail to a POBOX number (so I used Recorded Delivery!!!!).
Letter back saying they would investigate "Dispute".
I now know this means I got through to "Disputes team"

Who are best placed ot deal. But why the letter. these chargbacks can be done with NO PAPERWORK. All it requires is the date you cancelled with the company or the bank, since 2009.

grumpynotoldman wrote: »

They said I could inform Police, but that Banks & Visa were experienced at handing these "issues" & could guarantee resolution if "service" was demonstrably not working.
They said time limit for resolution was 45 days!
Unbelievable in this so called digital age.

When a chargeback is done. The retailer has the right to reply. It has to be fair to both sides.

grumpynotoldman wrote: »

.
Bank (CoOp)

This will go on FOREVER!

Not good for co-op if you can't contact disputes via phone.
Once a few transactions have been chargedback the co will get the message. It costs them per chargeback...

grumpynotoldman wrote: »

Visa/Paypal have no mechanism to contact "retailer"

As so not a bit more comes out.
You can stop the payment via your paypal userarea. Click on trans and stop is I believe all you need to do.
Everytime a chargeback is actioned. The retailer gets the message cancelled on xx date.
If the retailer ignores this then what can anyone else do....

grumpynotoldman wrote: »

The relationship with the retailer is between them & you.
Banks are just intermediaries.(WHAT?)
Retailer(who could be a sole trader/individual/web entity) could actually die and accumulate a fortune after death just from the fact that these CPA's can only be stopped by them.

See previous answer.
Add in retailer takes money from bank... Not bank sends to retailer.

grumpynotoldman wrote: »

And Banks want us to let them remain unregulated so they can operate efficiently.
Yeah !! (apologies to Modern Toss!)
I have no idea how the £$sales online continue to grow when so many people discover how this SCAM / Fraud works.Oh!

Try working in one and you will find how having ones hands tied and not being able to do stuff is....

Its not a scam ALL these have it clearly written in the T/C what they do.
Its not fraud. That is when a unknown 3rd party uses you details... Not a company you have signed a agreement with.

poppie123

Hi All:)
just wanted to check something. I have been reading about recurrent transactions and i am a bit confused by it all so i wondered if this what has happened below sounds right?
My credit card company did say it was but i don't think i explained it very well and i am not entirely sure he knew what i was going on about.

Here goes...

On Friday i ordered 3 items from Waitrose on my credit card, one was a book and 2 were for fresh hampers. The fresh hampers are due for delivery between the 19th-22nd of December.


Today i received the book part of the order which was £3.75. I have just logged into my credit card account and now in the pending items it says
RECURRENT TRANSACTION and the amount is for £3.75.(which is the book)

Now is it showing as a recurrent transaction because they will be taking the money for the hampers at a later date?(which i have authorised them to do when i paid for the items)

Thanks

stclair

Abit of bed time reading:

http://www.bbc.co.uk/news/business-20694942

gocat

When checking my 80 year old mums halifax account for her I noticed there were some charitys deducting monies each month e.g. nspcc, some animal ones etc. Just a small amount each month but they dont half mount up. Takes a fair chunk out of mums pension each month and she doesnt seem to remember signing anything to get these direct debits. With her permission I cancelled them. But some are still deducting each month. Shouldnt the halifax be following orders and cancelling them or do I need to contact each and every one of these numerous charities to cancel :eek:

Gromitt

When cancelling a DD, you should always inform the company concerned that you are doing so. Any further transactions can then be disputed.