Bank dispute- natwest

opinions4u

grumbler wrote: »

Instead of keeping moaning start the formal complaints procedure as advised.

Spot on.

Play your cards right and you can come away from this with some helpful ex-gratia payments.

Moan and shout and take no action and you end up with nowt.

stclair

grumbler wrote: »

Regardless of what banks can and cannot, now it's their responsibility to make this happening. If they fail, they have to refund the money and the charges (if any).
As simple as that.

Yeah that's correct the bank would put the customer bank in the position. However this would not happen until the account has phyiscally been debited.

BMN

If the amount is only reflected in the available balance then technically no money has left the account yet.
The Payment Services Regulations state that you can withdraw your consent to a payment - as you did by phoning to cancel the CPAs (or as you call them 'stop requests')
There is no obligation for banks to cancel a CPA. But they must refund the payment and any charges incurred.

YorkshireBoy

BMN wrote: »

But they must refund the payment and any charges incurred.

Correct, but the PSRs allow some leeway in terms of time.


If they're notified early in the business day, "immediate" means by the end of that business day.


If they're notified towards the end of a business day (or on a non-business day), "immediate" means by the end of the next business day.


Of course the time starts from when the value (rather than pre-authorisation amount) is debited from the account.

MamaMoo_2

Your best bet would be to cancel your card and get a new one in the first instance.
The bank cannot stop individual companies taking payments from your debit card, they can only refund them afterwards, and so whilst these companies have your current card details, they can still attempt to take funds.
The banks are also correct in saying they cannot refund you until the transaction clears. What they can do, however, is remove the "hold" or "ring fence" on the funds. This will allow you to access the funds, however they will still debit in a few days. Then, when they debit, you can phone back up and have the payment reversed.

DevCoder

MamaMoo wrote: »

Your best bet would be to cancel your card and get a new one in the first instance.
The bank cannot stop individual companies taking payments from your debit card, they can only refund them afterwards, and so whilst these companies have your current card details, they can still attempt to take funds.
The banks are also correct in saying they cannot refund you until the transaction clears. What they can do, however, is remove the "hold" or "ring fence" on the funds. This will allow you to access the funds, however they will still debit in a few days. Then, when they debit, you can phone back up and have the payment reversed.

1. Cancelling the debit card will have no impact (except cause the OP even more hassle in getting a new one) if its CPA's
2. The bank will want the merchant to put it in writing that the ring fence can be released. Do you think a PDL being deprived of its repayments is going to agree to do that?

JuicyJesus

krisdorey wrote: »

Do you think a PDL being deprived of its repayments is going to agree to do that?

If the OP is on a DMP which includes the PDLs then they should agree to do that or they should refund the payments.

I am on the OP's side here in general. NatWest rightfully shouldn't remove the authorisations without the PDL company's consent, but so long as the PDL is party to the DMP then they should provide that consent, and if the payments have been debited than again so long as the PDL company is part of the DMP then NatWest should attempt a chargeback. I would imagine if neither of these things happen then a formal complaint, possibly escalated to the FOS, would succeed.

If the PDLs are not part of the DMP however then the OP may not have a leg to stand on.

DevCoder

I agree they should, however they would probably drag their heels to the point the authorisation ringfence would just drop off automatically.

JuicyJesus

krisdorey wrote: »

I agree they should, however they would probably drag their heels to the point the authorisation ringfence would just drop off automatically.

Hmm. If they did that, so long as the money wasn't actually taken I'm not sure of the position. It could be reasonably argued that NatWest were just following instructions. The fault then would lie with the PDL company, again, assuming they were part of the DMP.

stclair

krisdorey wrote: »

I agree they should, however they would probably drag their heels to the point the authorisation ringfence would just drop off automatically.

If the ring fence was removed then the funds was never claimed anyway. The bank would have issued a refund without the need to do so.