payday loans trying to take money from my account

psl84

I've changed banks, moved my wages to the new bank, setup a dmp etc and everything seemed to be going ok. Also I wrote to the company telling them that their CPA has been cancelled and also to say that I'm starting a DMP with stepchange.

But then I got this letter from my old bank, after I called them, trying to cancel the payday loans' CPA:

{Quote}Dear Mr .......

I write with reference to your recent request to cancel continuous/recurring card transactions to (the 2 payday loan companies).

Unfortunately I must advise you that these disputed transactions are not continuous payments or recurrent transactions and I am therefore unable to request cancellation of any future payments.{Quote}

So what now? Does this mean they're going to take money from my (old) account still? There's no money in there to take...

I'm bricking it now...

ladybez

Are you able to close your old account?

psl84

No, I have quite an overdraft on the account :-/

ju34514

If they are CPA's, which payday loans usually are, could you not 'lose' your card and report it missing to the bank, it will be automatically cancelled. Would that work ? Just a thought

gizmo111

What are they then? Direct Debits which can be canelled.
Who are they to?

unoriginal_uk

I am pretty sure I've seen others giving the same advice about 'losing your card' and cancelling it with the bank to get another one - this would be the only way if you are not able to close your bank account and open another one.

psl84

Wonga and pounds to pocket. The advice I got was to cancel the CPA and I did that but then Santander said they 'have no power' to stop them

mellonicoley

This might be of help to you:

http://moneyaware.co.uk/2012/07/how-to-cancel-a-continuous-payment-authority-cpa-on-a-payday-loan/

"Earlier this year the Financial Services Authority (FSA) confirmed that under the Payments Services Regulations (PSR), a customer can cancel a continuous payment authority by contacting their bank or the card issuer.
Once you’ve told the bank to cancel the authority, it becomes an ‘unauthorised transaction’ and the bank shouldn’t make any further payments. If the bank does make a payment they’re in breach of the PSR and you’re entitled to an immediate refund (or slightly later if it’s a credit card payment).
The banks have now accepted this as their obligation under the PSR. Unfortunately the technology isn’t in place yet for the bank to be able to stop the payment if the payday lender requests it but the bank must still re-credit you with the payment.
In the future the banks will change their technology so they can stop any payments, but unfortunately we’re not sure when this will be available."

fermi

psl84 wrote: »

Unfortunately I must advise you that these disputed transactions are not continuous payments or recurrent transactions and I am therefore unable to request cancellation of any future payments.{Quote}:(

That is utter twaddle.

The PSRs allow you to withdraw consent for any future single payments or a series of payments.

Once you have told them to cancel them, all future payments will be unauthorised.

Read detailed info here ---> http://www.paullewismoney.blogspot.co.uk/2012/04/the-continuous-payments-racket.html

pmduk

Santander are talking hogwash, but that's hardly unusual

Willing2Learn

Agree with the last two posts.

Also, take a look at the leaflet, linked below, from the Financial Services Authority:

Bank Accounts : Know your rights

If Santander refuse to budge, make a complaint. Any transactions and associated fees or interest will be refunded if complaint is upheld.
or
ask for support/advice from a solicitor or debt counselling service, who could act as an advocate, in the event you do not feel comfortable making a complaint yourself.