continuous payment authority question

dr_adidas01

zongle wrote: »

What do u mean they will charge me? Would that happen straight away? Or would I havr chance to get the money out?

What Meer means is that the Bank may decide to pay the CP even if you have no money in your account.

If this is the case then it will put you in an un-authorised overdraft for which your bank will then charge you a fee, and will continue to do so until you pay all the fees and interest charged by the bank.

zongle

If I'm not over drawn does that mean thr transaction has failed?

dr_adidas01

zongle wrote: »

If I'm not over drawn does that mean thr transaction has failed?

Possibly, though it wont stop them from trying again, and the bank may let it go through.

Who is this CP for and why are you trying to avoid paying them?

dalesrider

zongle wrote: »

Hi Guys,

If I have some continuous payment authority setup on my account, what time in a morning do they normally get taken out? Like a DD gets taken out about 5pm.

Cheers,
Zongle

When the retailer processes the transaction.
like any debit card payment, that can be at anytime of the day or night.

Would it help if I cancelled my debit card?

Google Visa Account Updater. Mastercard have the same system.
So best advice is NO it won't help.

Candy53

http://paullewismoney.blogspot.com/2012/04/the-continuous-payments-racket.html?m=1.


http://m.guardian.co.uk/money/2012/feb/24/continuous-payments-authority-know-your-rights.



Candy

dalesrider

Candy53 wrote: »

http://paullewismoney.blogspot.com/2012/04/the-continuous-payments-racket.html?m=1.


http://m.guardian.co.uk/money/2012/feb/24/continuous-payments-authority-know-your-rights.



Candy

And the point is???

agrinnall

dalesrider wrote: »

And the point is???

Although not at all clearly made, I imagine the point is to show that cancellation of a CPA can be done by contacting your bank rather than the company who would be taking the payment, even if the bank isn't very encouraging when the cancellation is requested (not the case with your employer I'm sure ).

Of course, that doesn't prevent the money being owed still, but the company will have to use other means to get it.

dalesrider

agrinnall wrote: »

Although not at all clearly made, I imagine the point is to show that cancellation of a CPA can be done by contacting your bank rather than the company who would be taking the payment,

At no point has anyone mentioned about cancelling a CPA.

OP just asked what time they come out....