refund from myloan.co.uk??

idiot2012

If I was to lose 69.99 fee. I would not be that unhappy I am just so worried this will escalate into huge sums being taken from my account. Can anyone reassure me on this?

idiot2012

How does the post method prove that my account has been cancelled?
Wont they still have my details?
Also in the letter what should I say? Should it be long drawnout letter or simple just say cancel my account?

imoneyop

idiot2012 wrote: »

If I was to lose 69.99 fee. I would not be that unhappy I am just so worried this will escalate into huge sums being taken from my account. Can anyone reassure me on this?

These type of companies aren't that type of scammer - they rely on people signing up and paying the 70 quid and not bothering to cancel properly.

If in the unlikely event any money was taken from your account you just report it to your bank as a fraudulent transaction and they will refund it.

imoneyop

idiot2012 wrote: »

How does the post method prove that my account has been cancelled?

If you get proof of postage, it proves that you have sent the letter cancelling, which will be enough for the bank to refund if any money is taken.

These companies know they are skating close to the edge legally, so they tend to keep their side of the deal to avoid drawing attention to themselves.

idiot2012 wrote: »

Wont they still have my details?
Also in the letter what should I say? Should it be long drawnout letter or simple just say cancel my account?

Dear Sirs, please cancel my application with you as per term 6 of your T&C. Yours faithfully, idiot2012.

idiot2012

I will send a letter tomorrow. Recorded post. First class. Should I cancel my card now or when I have confirmation of cancellation (will they even tell me)?

Apples2

Why do you want to cancel your card?

Have you l lost it?

imoneyop

idiot2012 wrote: »

I will send a letter tomorrow. Recorded post. First class. Should I cancel my card now or when I have confirmation of cancellation (will they even tell me)?

Why do you want to cancel your card?

In my first reply I said ignore the muppets that tell you to do that - they don't have a clue what they are talking about.

idiot2012

Nope. I just thought it would be a safe thing to do, to avoid lots of money leaving my account?

iolanthe07

There are lots of instances on here of people cancelling their cards but funds still being taken out of their account.

idiot2012

So as long as I send a letter and email tomorrow this will be the end of the matter and no more funds will leave my account?
thanks for your help you are a star.