Wonga, Quickquid & Lending Stream = Help

KingElvis

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.

Woahhhh easy tiger, you're thinking too hard (if that's possible)

Peelerfart

And the Lord granted (some of) us the gift of wit.

Ampafc do you think you could "please describe how you think your comments would be of any use to anyone." ?

That would be a "no" then would it?

Lucero_2

The reason they have been cleaned out, is because the likes of Wonga and QQ default to the bank sort code and account number, which won't have changed. I never argued that they wouldn't get cleaned out, I simply pointed out that cancelling a card as lost / stolen will stop them taking payment in the first instance. Ultimately, of course, you are right in that the only sure way is to open a new bank account.

XXSCOTSLASSXX

Lucero wrote: »

The reason they have been cleaned out, is because the likes of Wonga and QQ default to the bank sort code and account number, which won't have changed. I never argued that they wouldn't get cleaned out, I simply pointed out that cancelling a card as lost / stolen will stop them taking payment in the first instance. Ultimately, of course, you are right in that the only sure way is to open a new bank account.

Do you actually read any other posts ?? you are obviously totally correct afterall you had a loan with wonga and didnt happen to you when you didnt pay on time.... all those other posters etc are mistaken that funds left their account as a POS transaction after their card had been cancelled..... they cannot claim the funds back via sort code and acc number without relevant authorisation..... they have this for debit card payments by way of recurring payment authorisation....google cancelling a recurring payment you may actually learn something

LovelyLeeds

Lucero wrote: »

The reason they have been cleaned out, is because the likes of Wonga and QQ default to the bank sort code and account number.

No newt axes...

Squidge123

If you phone Wonga and tell them you need to set up a payment plan they will let you. I've done it before without using the extentions

Apples2

Stop it lucero, its getting worse for you.

We all make mistakes and give poor advice from time to time but best not to carry on in the same thread.

MoneyMagic01273

As someone that has worked for a few credit card and payments companies, I can categorically state that stopping a card as lost/stolen CAN sometimes prevent recurring billing situations.

I'm not stating it always works as it depends on a number of factors - including the amount being requested, the specific merchant, and the networks transaction handling process and other things. But it CAN sometimes prevent companies - even companies with stored card details and recurring billing processes - from putting further requests through a card. Again, I'm certain there are many occasions where it hasn't worked as I appreciate that stopping a card as lost or stolen is also not an assurance that transactions cannot come through - but I do know, for fact, that it can sometimes do the trick.

The original person (lily?) who suggested this didn't say at the time that it would garuantee anything as far as I can see. I believe it was suggested only as a precautionary step, and in that context - considering it can sometimes work - it seemed valid to me to make that suggestion. Just my 2 cents.

maginot

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.

Why are you still repeating wrong information after other posters have you told you and shown evidence as to why?
A cancelled/renewed/lost card does not stop a recurring payment that the firm has evidence you agreed to.

Lucero_2

maginot wrote: »

Why are you still repeating wrong information after other posters have you told you and shown evidence as to why?
A cancelled/renewed/lost card does not stop a recurring payment that the firm has evidence you agreed to.

Yes, it does. It EXPLICITLY happened to me when I reported a card lost / stolen. Not just wonga, but Credit Expert. BOTH were unable to take their recurring payment because the card numer was no longer valid.

I guess though, I'll listen to a bunch of mums on MSE and 5 years HSBC asset management banking will just have to count for nothing.