Wonga, Quickquid & Lending Stream = Help

Peelerfart

KingElvis wrote: »

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

OP in a pickle and lilly in a huff - what a bad day.

Lucero_2

XXSCOTSLASSXX wrote: »

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

A recurring payment is irrelevant if the card is no longer valid.

It's that simple. This isn't a direct debit or standing order. It's simply an automated way of taking money from a card, there's nothing more technical about it other than, instead of a human putting the details in, a comptuer does it. The process is EXACTLY the same as me buying food online from Tesco, or buying something from Amazon. I lost my card in December, called the bank, told them I lost it. They said, even if I found it, don't use it. 5 days later, I had an email from Credit Expert saying that they were unable to take their normal payment, the card had been declined. That's right, a recurring, continuous payment, could no longer be taken, because the card details they were using were no long valid. When a card is lost / stolen, the new card MUST contain a new card number, CCC and valid from / expiry details. Wonga and QQ use exactly the same method as Credit Expert to take their money, how do I know? Because when I lost my card, I had a small Wonga PDL and they called me to say that they hadn't been able to take payment.

The last part of that MSE statement is totally incorrect, as such payments were addressed recently. If the card number has changed either lost or stolen, a recurring payment cannot be made using that card. To do so would suggest Wonga or QQ had stolen the card and had it in their possesion as the system they use, as I've said, is no different to you making an online payment, or over the phone to purchase goods. The bank would be fully liable if such a payment was made using a lost/stolen card and would have to refund the payment immediately.

LovelyLeeds

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.

You are absolutely right, they take payment from card details on file.
Those details are current and live - it is the actual card which is unusable as it will have data on it which the bank will have cancelled, but the account details are very much usable. Wonga et al will carry on using the details given, ie bank account and sort code - merely cancelling a card is as useful as a chocolate teapot.
The same goes for recurring subscriptions, like a book club for instance - by cancelling your card does not cancel the subscription.

LovelyLeeds

Peelerfart wrote: »

OP in a pickle and lilly in a huff - what a bad day.

A piccalilly pickle then?

XXSCOTSLASSXX

Lucero wrote: »

A recurring payment is irrelevant if the card is no longer valid.

It's that simple. This isn't a direct debit or standing order. It's simply an automated way of taking money from a card, there's nothing more technical about it other than, instead of a human putting the details in, a comptuer does it. The process is EXACTLY the same as me buying food online from Tesco, or buying something from Amazon. I lost my card in December, called the bank, told them I lost it. They said, even if I found it, don't use it. 5 days later, I had an email from Credit Expert saying that they were unable to take their normal payment, the card had been declined. That's right, a recurring, continuous payment, could no longer be taken, because the card details they were using were no long valid. When a card is lost / stolen, the new card MUST contain a new card number, CCC and valid from / expiry details. Wonga and QQ use exactly the same method as Credit Expert to take their money, how do I know? Because when I lost my card, I had a small Wonga PDL and they called me to say that they hadn't been able to take payment.

The last part of that MSE statement is totally incorrect, as such payments were addressed recently. If the card number has changed either lost or stolen, a recurring payment cannot be made using that card. To do so would suggest Wonga or QQ had stolen the card and had it in their possesion as the system they use, as I've said, is no different to you making an online payment, or over the phone to purchase goods. The bank would be fully liable if such a payment was made using a lost/stolen card and would have to refund the payment immediately.

Did you actually click on the link and read the whole page that Martin has written???? I think you should..... and focus mainly on the cases that have specifically been quoted... both payments having been taken from a cancelled card!!! or has Martin got this incorrect too.....

ampafc

KingElvis wrote: »

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

Every thread that I have read about payday loans...you seem to post sarcastic and unhelpful comments in. Why do you feel the need to do this? Look at what you have written above, and please describe how you think your comments would be of any use to anyone.

meer53

Lucero wrote: »

A recurring payment is irrelevant if the card is no longer valid.

It's that simple. This isn't a direct debit or standing order. It's simply an automated way of taking money from a card, there's nothing more technical about it other than, instead of a human putting the details in, a comptuer does it. The process is EXACTLY the same as me buying food online from Tesco, or buying something from Amazon. I lost my card in December, called the bank, told them I lost it. They said, even if I found it, don't use it. 5 days later, I had an email from Credit Expert saying that they were unable to take their normal payment, the card had been declined. That's right, a recurring, continuous payment, could no longer be taken, because the card details they were using were no long valid. When a card is lost / stolen, the new card MUST contain a new card number, CCC and valid from / expiry details. Wonga and QQ use exactly the same method as Credit Expert to take their money, how do I know? Because when I lost my card, I had a small Wonga PDL and they called me to say that they hadn't been able to take payment.

The last part of that MSE statement is totally incorrect, as such payments were addressed recently. If the card number has changed either lost or stolen, a recurring payment cannot be made using that card. To do so would suggest Wonga or QQ had stolen the card and had it in their possesion as the system they use, as I've said, is no different to you making an online payment, or over the phone to purchase goods. The bank would be fully liable if such a payment was made using a lost/stolen card and would have to refund the payment immediately.

So.... the hundreds of payments i see every day at work, coming through on stopped cards, aren't really there then ? Am i imagining them ?

Nope.. didn't think so, i'm not losing the plot.

Some payments will be declined, some won't. Depends what type of transactions they are. Recurring payments which are set up before the card is cancelled will sometimes still be allowed to come through.

Stopping a card will not guarantee the payments won't be claimed.

meer53

ampafc wrote: »

Every thread that I have read about payday loans...you seem to post sarcastic and unhelpful comments in. Why do you feel the need to do this? Look at what you have written above, and please describe how you think your comments would be of any use to anyone.

I think Elvis is just thinking out loud, why is it sarcastic ?

oopsadaisydoddle

Thanks for everyone confirming what I've said. I only posted to help OP and if OP had taken the advice of Lucero and Lilly then he'd likely be back with another thread in a week or so saying something like ''help - I reported my card as lost and Wonga have still accessed my money and now I literally have nothing''.

Maybe not EVERY single transaction gets honoured (I don't know) but it is most definitely NOT a guaranteed method of stopping a payment being taken and whilst this is the case, wouldn't it be best to be cautious anyway, Lucero.

I know that if I was in that situation (which I would never be) - I wouldn't risk it.

Also if you are correct, Lucero - why are there a number of threads on here where people have done exactly what you have said to do and they have then been cleaned out?

skintandscared_2

There have been numerous threads posted by people who cancelled their card and the payday loan was still taken from their account.