Nationwide Fraud on Debit Card (Are they breaking the law?)

mrjam

notts_phil wrote: »

You should direct them to the PSD

I have done, they either 1.) dont seem to be aware of what this is or 2.) openly ignore the regulations in place. Looks like i'll have to wait 5 days for my money back.

pqrdef

If they make an immediate refund, as they should, it follows that any overdraft created will be immediately cleared, so there's no need or excuse for them to keep your money on hold.

They can't stop the payments, because that would undermine the system. But it's not at all clear that they have any right to make the payments with your money, just because it happens to be your card number that was used. The onus is on them not to debit your account unless they believe that you authorised the transaction, and you've already told them you didn't. You haven't done anything wrong and it's nothing to do with you, so there's no reason why you should be at risk of this kind of inconvenience.

mrjam

pqrdef wrote: »

If they make an immediate refund, as they should, it follows that any overdraft created will be immediately cleared, so there's no need or excuse for them to keep your money on hold.

They can't stop the payments, because that would undermine the system. But it's not at all clear that they have any right to make the payments with your money, just because it happens to be your card number that was used. The onus is on them not to debit your account unless they believe that you authorised the transaction, and you've already told them you didn't. You haven't done anything wrong and it's nothing to do with you, so there's no reason why you should be at risk of this kind of inconvenience.

Yes in theory, however we mere mortals are powerless against the banks. They have said that i wont get an immediate refund and it will be 5 days, spoken to 4 different people now, including 2 "senior" members of the fraud team, and they still blatantly ignore the PSD regulations in place. That's where my frustration lies, the fact that these regulations are meaningless. Also, the transactions cleared today and go to a "PAYPAL - belectronics.co.uk" so theyve all debited from my account.

mrjam

PSD regulations my behind, just been openly told by nationwide CS that they dont apply. Really?!?

Also, just been told they have requested information regarding the transactions from the company and it will take upto 28 days for them to respond. And until that time i wont get my money. This is a complete scam.

cottager

Have you knowingly made any Paypal payments recently?

Just looked up 'belectronics.co.uk' and there are a few people on Yahoo Answers asking if they're scamming, for example:
http://uk.answers.yahoo.com/question/index?qid=20120515080418AAWZ31V
http://uk.answers.yahoo.com/question/index?qid=20120429051844AAYUtPJ
http://uk.answers.yahoo.com/question/index?qid=20120517084615AA0gehO
(these three from about 2 months ago)

I've tried the site but Firefox throws up a 'server not found' error. Lot of cached pages at Google though, if you do a site search.

mrjam

cottager wrote: »

Have you knowingly made any Paypal payments recently?

Just looked up 'belectronics.co.uk' and there are a few people on Yahoo Answers asking if they're scamming, for example:
http://uk.answers.yahoo.com/question/index?qid=20120515080418AAWZ31V
http://uk.answers.yahoo.com/question/index?qid=20120429051844AAYUtPJ
http://uk.answers.yahoo.com/question/index?qid=20120517084615AA0gehO
(these three from about 2 months ago)

I've tried the site but Firefox throws up a 'server not found' error. Lot of cached pages at Google though, if you do a site search.

No, ive not had a paypal account for many years, nor have i paid anything through paypal. I've bought various things online but only from legitimate websites, i.e ebuyer.com - etc - i'm just furious that Nationwide have gone from 5 days to now 28 days to get a refund, how the hell is that in anyway in line with what they are legally required to do.

pmduk

Just make the fomal complaint now on the basis that they are not prepared to commit to the payment services directive. I'd also be looking for a better orgainsation to bank with.