Automatic renewal on online software - stopping it

JanetAS

I've just had an email from Stopzilla (iS3) stating they are taking automatic renewal next month. I can't find my cashbook for 2011 to see if it was on credit card or my current account. They apparently have been exposed as scammers as my security suite software won't allow me access to their website, but I can get to it via my iPhone. I have also found some other comments on the web regarding this company, so I want to make sure this automatic debit doesn't leave my account!

I can use a toll free number (I will check it!) 0-808-101-0937, and have sent messages to my bank asking them to reject this automatic renewal. Can I/they do this?

I started the process of registering an online account with iS3 but didn't get as far as activating it, as I'm reluctant to give out bank details again.

I'm really hoping my bank will step up to the mark and take my instruction to reject this automatic renewal.

Any thoughts/ideas?
Many thanks.

InsideInsurance

You bank cannot stop a renewal they can at best simply stop the payment for it which would mean that you still owe the money and potentially late payment fees etc on top of it.

Certainly know that STOPZilla receives mixed reactions but never heard of them being called scammers. Of cause almost every company under the sun that does auto renewal processes get called scammers frequently on sites like this because people dont both reading things properly.

pinkdalek

InsideInsurance wrote: »

You bank cannot stop a renewal .

Can't comment on other banks, but if you are with Lloyds, Halifax or Bank Of Scotland then they certainly can stop recurring debit/credit card payments.

You need to telephone them however, it is not something the branch is able to do but they would let you use their phone. You do need to tell them though the amount expected to be debited and the name of the company. If they require a reason explain you have attempted to cancel with them without success.

If you do not bank with any of the above then still suggest contacting your bank, I am sure they will be able to tell you which account you paid it through last year too.

pmduk

pinkdalek wrote: »

Can't comment on other banks, but if you are with Lloyds, Halifax or Bank Of Scotland then they certainly can stop recurring debit/credit card payments.

The whole point of the post you were quoting was to explain that cancelling a payment does not cancel the obligation to pay if you have an agreement to continue paying. Until the contract is cancelled you remain obliged to pay in one form or another.

YorkshireBoy

pinkdalek wrote: »

Can't comment on other banks, but if you are with Lloyds, Halifax or Bank Of Scotland then they certainly can stop recurring debit/credit card payments.

Your banking group is doing nothing special by adopting that approach. They're simply complying with 'the rules'.

All banks must now cancel a recurring or continuous payment authority when a customer requests it. It's a fairly recent change, so maybe your employers haven't yet fully briefed you on it?

http://www.fsa.gov.uk/consumerinformation/product_news/banking/know_your_rights/payments (scroll down to "Cancelling a regular card payment")

InsideInsurance

pinkdalek wrote: »

Can't comment on other banks, but if you are with Lloyds, Halifax or Bank Of Scotland then they certainly can stop recurring debit/credit card payments.

Would really help if you quote my whole sentence which was

InsideInsurance wrote:

You bank cannot stop a renewal they can at best simply stop the payment

So as I say, the bank can only stop the payment for the renewal, this doesnt stop the renewal itself.

2010

YorkshireBoy wrote: »

It's a fairly recent change, so maybe your employers haven't yet fully briefed you on it?

Not that recent!

In the past your bank could not – or would not – stop these recurring payments (also called ‘continuous payment authorities’). Customers were told they had to go to the firm they did the deal with as only it could stop the payment. But a law passed on November 1 2009 means that the bank or card provider must stop them with or without the agreement of the firm that takes them. The law applies to all such payments not just ones which have been made without your full understanding.

The new law originated in Europe and for a couple of years all sides argued about what exactly it meant. But the Financial Services Authority has issued new guidance which makes it absolutely clear that the bank or card provider has to stop the payments from the moment you tell them to. Its latest guidance for customers on these recurring payments says “you have the right to cancel them directly with your bank or card issuer by telling it that you have stopped permission for the payments. Your bank or card issuer must then stop them – it has no right to insist that you agree this first with the company taking the payments.”

Nevertheless, most banks and card providers are still giving customers the wrong information and telling them they must cancel the arrangement with the firm. So you may have to be firm and quote the FSA guidance and the law itself which is reg.55 of the Payment Services Regulations 2009.

Because the law was passed in the UK on November 1 2009 you can get compensation for past payments if you told your bank to stop a payment after that date and it refused to do so.

http://www.saga.co.uk/money/experts/recurring-card-payments.aspx

YorkshireBoy

2010 wrote: »

Not that recent!

I was being polite.

YorkshireBoy

On this subject, I've just closed a Halifax credit card and the closure confirmation letter states...

Halifax wrote:

We will advise retailers to cancel any regular payments (for example Sky or AOL). I recommend that you also contact the retailers to advise them. If you have any regular payments in place and you are still receiving the product or service you will need to arrange an alternative method of payment.

If a regular payment does appear on your credit card account after you have closed your account and you do not want the product or service then please contact us as soon as possible and we will refund your credit card account within two working days

The second paragraph is interesting, because it's heavily weighted in favour of the customer (and their word against that of the retailers and their merchant acquirers).

System

fter you have closed your account

I think that is referring to the credit card account.

All this means is that if you have not cancelled whatever the regular payment was for, the CC company will give you your money back but that then leaves you open to debt collection action from the company that had the payment refunded for failure to pay.