Bank Dispute

Rach1395

On 11/12/13 I placed stop requests against 3 payday loan companies with my bank as I have started a debt management plan. On 19/12/13 my wages were paid into my bank account and were immediately taken by the payday loan companies despite the stop requests. After speaking to the financial conduct authority I was advised to phone them and ask for an immediate refund. I did this and my concern was completely dismissed by the bank, they claimed that no refund can be given until the payment has fully cleared. They were also unwilling to allow me to log a complaint. Upon phoning them today I have been told again that the payments are not cleared. I find it highly suspicious that this month the payments are taking days to clear when for the last 10 months they have cleared immediately or the very next day. I am now left with absolutely no money in my account and no idea what to do next. Any help would be appreciated! ( I think I was doing the right thing by confronting my debt problems and attempting to fix them however this mess makes me wonder whether it would be easier to just continue in my spiral of debt).
HELP!!!

DevCoder

Did you specifically cancel the CPA (continuous payment authorities) with the bank?

Rach1395

Yes I cancelled the CPA specifically with the bank on the 11/12 and also handed my payday loan debt over to debt management company that day.

DevCoder

Handing the debt over to the DMP company is irrelevant to your complaint.

Are the funds still in your account and just ringfenced for the (now cancelled) CPA?

If not then the payment would need to be recalled but needs to clear through the system first.

Your bank cannot prevent you from making a complaint, you just need to put one in writing to them. They then have 8 weeks to respond and hopefully resolve to your satisfaction other wise you can take it to the FOS.

Given that you stated that you had cancelled the CPA with the bank, then I'd ring them again, state what day and time you cancelled the CPA and who you spoke to. They should then re-credit your account immediately.

agrinnall

Duplicate post on the banking board.

https://forums.moneysavingexpert.com/discussion/4850680