£2500 stolen by online company, bank doesnt care and charged me about £600 charges

stressedstudent

I am a student, up till the money was stolen I was about £1000 in credit.

However I had just over £2500 stolen from my account by a company I bought something from for only £25

Bank refuse to help as they say I authorised the right to continous payment and have to get trading standards involved yet are happy to charge me over £600(at last check) for things like using my reserve every week for last 6 weeks since issue occured and bounced direct debit charges, and other charges and have today rang me from their collections department threatening to freeze my account as they think I am doing a runner!

I am disgusted by their attitude especially the charges since I could probably get enough to clear the reserve so I wont get more charges but then theres still the £600 odd they have charged me plus the £2500 stolen.

What are my rights as surely the bank is lying/incorrect saying they cannot get the cash back!

verityboo

Who is the company and what did you sign up to?

mountainofdebt

Right breathe in, breathe out and relax.

You'll get more help if you can tell what happened and when.

4743hudsonj

I cant really see the banks error, they sound correct in telling you what they have.

You need to be putting all effort towards the company. Technically its not "stolen" either so no help in calling it that either.

Write to them via recorded delivery. State the issue, and send copies of all charges incurred (state that this may increase for as long as the issue persists and demand an urgent and immediate resolution of a full refund of the remaining balance, plus any extra costs incurred. State that if they do not do so in 7 days you will begin court actions to reclaim your funds.

They company owe you the charges, not the bank.

cyberbob

Sounds like you signed up to something you didn't realise. So it sounds like the bank did nothing wrong. Without more information about the company and your situation it's difficult for anyone to help.

mynameisdave

How have the bank issued you with £600 in charges? I assume for not having the money to pay what was debited?

Why have your bank continued to authorise repeat payments if they are biulling you for not having the money?

stressedstudent

mynameisdave wrote: »

How have the bank issued you with £600 in charges? I assume for not having the money to pay what was debited?

Why have your bank continued to authorise repeat payments if they are biulling you for not having the money?

No idea, originally the branch told me I wouldnt get charges as I reported the transcations as fraudulent, yet I seem to get about 5 letters a week from them so no idea whats going on.

The company was foreign and for signup to a membership site with lifetime access for like £25, company had no bad history, the small print said nothing about recurring payments etc.

pcombo

what is the site. or name

Optimist

I'm assuming with the mention of continuous payments you are talking credit card continuous payments. Now you say foreign....Quite honestly your unlikely to get your money back but a complaint to trading standards is definitely a good idea if only to record the site and hopefully eventually get it closed down

I fear the bank will stand its ground as banks deny liability for such payments even the cancellation of them is amazingly difficult..

Have you managed to cancel the authority with the company concerned ? You need to keep records of your correspondence with the company, your going to have to show you have tried to cancel and get a refund. Then go through the banks complaints procedure in writing and finally a complaint to the Financial Ombudsman will probably be needed

It highly unlikely to get your £2k refunded but "might" get you your charges refunded and should hopefully ensure the closure of the continuous authority so they cant take more money.

verityboo

Who is the company and what exactly did you sign up for. People will be in a far better position to offer help if you let us know the facts

toffe

i agree with the above it's all a bit too vague to give ny real advice, care to share some more details?