Card Protection Payment Taken After Account Closure

ChickenLittle_2

Hello,

Just wanted to warn people (sorry if you're already aware of this) that if you cancel a card, make sure that any standing order you have set up on the card is also cancelled.

I had a nasty shock this morning when I discovered that a card I'd cancelled 6 months previously had been charged £29, thanks to a 12 month renewable standing order from a card protection agency. I assumed that because the card had been cancelled, so would the standing order! :mad:

dazed

yeap they should have written to you 6 weeks before afaik. Well thats the case with CPP. You might not have received the letter or it may have gone 'missing' however....

ChickenLittle_2

CPP wrote apparently. I don't remember getting anything from them. I thought that Egg should have warned me though on closure of my account.

dazed

ChickenLittle wrote:

CPP wrote apparently. I don't remember getting anything from them. I thought that Egg should have warned me though on closure of my account.

they should advise that any credit card direct debits should be cancelled yes. Maybe looked at your statements over the past year and advised of them tbh.

But they would not be that nice as you were leaving them

merch

There's been a long running sticky on the credit card forums on this subject...

http://forums.moneysavingexpert.com/showthread.html?t=256

These payments are neither direct debits nor standing orders

dazed

merch wrote:

There's been a long running sticky on the credit card forums on this subject...

http://forums.moneysavingexpert.com/showthread.html?t=256

These payments are neither direct debits nor standing orders

Its an easier to understand term than a 'Continuous Payment Authority’

YorkshireBoy

ChickenLittle wrote:

I assumed that because the card had been cancelled, so would the standing order!

There's no need to 'assume' anything. Egg tell you how to close the account in the T&C's. They even warn you specifically about CPA's...

20. Ending this Agreement
<...snip...>
20.5 After this Agreement has ended you should ensure that no Transactions are made and that any continuous payment authorities or standing instructions are cancelled by telling the recipient of the payment to cancel them.

dazed

YorkshireBoy wrote:

There's no need to 'assume' anything. Egg tell you how to close the account in the T&C's. They even warn you specifically about CPA's...

so you read the small print and remember everything then ........:rolleyes2

grumbler

dazed wrote:

so you read the small print and remember everything then ........:rolleyes2

...or you don't read and pay everything then. You have a choice. I choose the former

YorkshireBoy

dazed wrote:

so you read the small print

Always.

...and remember everything then ........:rolleyes2

I 'remember' where my T&C's are, so I don't need to 'remember' what's in them!

This is a money saving site. If more people read/referred to their T&C's, then more people would save money (and more than a little angst along the way). Isn't that what it's all about?

Astaroth

Though there is talk of the CPA scheme becoming more heavily regulated and moving to a system much closer to the DD one... supposidly it will happen in April but there is a snowballs chance in hell of that deadline