Wonga, Quickquid & Lending Stream = Help

oopsadaisydoddle

DCFC79 wrote: »

Looks like you have upset lilly, i do agree that cancelling the card wont do anything re the payments.

It wasnt my intention to upset anyone...apologies Lilly for coming across that way. As I said, I'm on my phone and it's hard to read what I've written without it going all funny on me!

DCFC79

oopsadaisydoddle wrote: »

It wasnt my intention to upset anyone...apologies Lilly for coming across that way. As I said, I'm on my phone and it's hard to read what I've written without it going all funny on me!

I was joking lol, what you said was fine and it didnt warrant " slap on the wrist. I won't bother attempting to give advice on here again "

Niv

E-fight!!!! pile on......

oopsadaisydoddle

DCFC79 wrote: »

I was joking lol, what you said was fine and it didnt warrant " slap on the wrist. I won't bother attempting to give advice on here again "

Ah, I see!! Thanks! I didn't mean to start a 'cyber fight' so as the saying goes ''nothing to see here'' lol!!

[Deleted User]

Hey - how about closing and opening a brand new bank account worked for me in this very situ, that way there will be none of this bank fraud talk, after all we are all free to open new accounts every day aren't we

Barclays and Halifax basic accounts are fab - you can get free text messages letting you know your balance so you'll always know where you are with money/balance

xx

Lucero_2

Incorrect, the advice in the 1st reply is accurate. Wonga and QuickQuid use the card number and CCC to take payment (as well as validity). By telling your bank the card is lost, they will issue you a new card with a new number.

Wonga and QQ will then NOT be able to take money using the old card details.

oopsadaisydoddle

Lucero wrote: »

Incorrect, the advice in the 1st reply is accurate. Wonga and QuickQuid use the card number and CCC to take payment (as well as validity). By telling your bank the card is lost, they will issue you a new card with a new number.

Wonga and QQ will then NOT be able to take money using the old card details.

Just changing the card number will not stop a payment being taken because if your bank have seen that you have paid that company before they may honour any payments going through. Unfortunately I don't know how to find and post links to other threads where this has happened but in my time browsing these forums, I have seen many.

I am not saying this to be argumentative - it is not GUARANTEED that cancelling a card will stop payments to these companies and whilst it can't be guaranteed, OP would probably be best to err on the side of caution. This is why myself and others have mentioned opening another bank account just in case - at least then OP is in control.

Also the reason these companies ask for card details is because they expect that a lot of their customers may default and cancel their payments..the companies know they can still get to the money.

Lucero_2

oopsadaisydoddle wrote: »

Just changing the card number will not stop a payment being taken because if your bank have seen that you have paid that company before they may honour any payments going through. Unfortunately I don't know how to find and post links to other threads where this has happened but in my time browsing these forums, I have seen many.

I am not saying this to be argumentative - it is not GUARANTEED that cancelling a card will stop payments to these companies and whilst it can't be guaranteed, OP would probably be best to err on the side of caution. This is why myself and others have mentioned opening another bank account just in case - at least then OP is in control.

Also the reason these companies ask for card details is because they expect that a lot of their customers may default and cancel their payments..the companies know they can still get to the money.

This is where you are wrong. QQ and Wonga take payment from card details stored on file, like any other online shoping you might do. Therefore, if the card has been reported lost / stolen, under no circumstances can that card be used again, by anyone. Your bank will just decline it, as they would if you then found that card and tried to use it in store or online. It's that simple. If payment was made, your bank would be liable to return that payment immediately, but this won't ever happen, as the bank won't authorise the payment in the first place.

They key here is the purpose you are cancelling your card. Lost / stolen takes the highest priority on the banking system and absolutely no further payments can be made from that card.

XXSCOTSLASSXX

Lucero wrote: »

This is where you are wrong. QQ and Wonga take payment from card details stored on file, like any other online shoping you might do. Therefore, if the card has been reported lost / stolen, under no circumstances can that card be used again, by anyone. Your bank will just decline it, as they would if you then found that card and tried to use it in store or online. It's that simple. If payment was made, your bank would be liable to return that payment immediately, but this won't ever happen, as the bank won't authorise the payment in the first place.

They key here is the purpose you are cancelling your card. Lost / stolen takes the highest priority on the banking system and absolutely no further payments can be made from that card.

I think you are incorrect here sorry, by giving the debit card number to these loan companies you are setting up a recurring payment

As stated on the MSE website "Recurring Payments, known as Continuous Payment Authorities until a few years ago, is the company will ask for the long number across the centre of your credit or debit card rather than your bank details. If this happens, you need to be aware an entirely different set of rules come into play"The company's registering a charge on your card, and if it wants to keep charging, it can. In other words...You CAN'T CANCEL them. Only the company you're paying can do that! Even by cancelling the card the Bank can and will still authorise a recurring payment.....

http://www.moneysavingexpert.com/banking/recurring-payments

KingElvis

Oh dear, all those payday loans...what a pickle.