Cash Genie obtaining your Visa card details

Dantaus7

Does anyone know if this is true?




My partner took out a loan with Cash genie a year ago whilst with Natwest. Since then he ended up in financial difficulty and is now with Barclays bank. He is attempting to set up a payment plan with cash genie but somehow Cash Genie have got hold of his debit card details for Barclays and they keep taking large unauthorised payments from his account. Barclay's fraud department have agreed it is unauthorised and keep having to refund the money. We have contacted Barclays and asked to change bank details and they have claimed this would be pointless. They claim that companies like Cash Genie can apply directly to Visa and get the bank/debit card details of anyone that owes them money. Does anybody know if this is true? If so, it is a little disconcerting that companies can do this.

DevCoder

Yes, its the Visa Account Updater program

http://www.visadps.com/services/visa_account_updater.html

DCFC79

Well look at your finances or your partner needs to do it and cut back on stuff to pay it off.

heartbreak_star

This happened to me. There's a thread about it somewhere.

They took £1200 for a £150 loan.

Makes you think, really.

HBS x

Dantaus7

As I already stated, he is already doing this. I was asking about whether Cash Genie could get your new bank details from Visa. My partner is trying to pay it off and Cash Genie are going behind his back and trying to take more unauthorised payments.

heartbreak_star

That sounds pretty much exactly what happened to me, except Halifax refused to refund, saying the transactions were legal.

They definitely didn't have new card details, so I wonder if they did get them from Visa? Looking at the link krisdorey posted, seems like they're allowed

HBS x

rizla_king

heartbreak_star wrote: »

That sounds pretty much exactly what happened to me, except Halifax refused to refund, saying the transactions were legal.

Had you told Halifax to cancel the CPA?

If you had, in time, then Halifax are obliged to refund whether they like it or not. If they keep refusing take them to the FOS.

http://www.fca.org.uk/news/continuous-payment-authorities

Dantaus7

Yeah it seems they are. Looks like it has something to do with the Continuous Payment Authority. Barclays are already refunding any money Cash Genie take out as unauthorised payments and I have written a letter for my partner to Cash Genie, cancelling the CPA

heartbreak_star

rizla_king wrote: »

Had you told Halifax to cancel the CPA?

If you had, in time, then Halifax are obliged to refund whether they like it or not. If they keep refusing take them to the FOS.

http://www.fca.org.uk/news/continuous-payment-authorities

This was a long time ago...I was butting heads with them trying to cancel the CPA - they said they couldn't and at the time I didn't really know any different

So I asked them to cancel the CPA, they said they couldn't, I asked them again, ad nauseum....then boom, a dozen payments totalling £1200. I went ballistic and said if they allowed CG to take any more payments I would be withdrawing my custom and encouraging others to also.

HBS x

rizla_king

heartbreak_star wrote: »

This was a long time ago...I was butting heads with them trying to cancel the CPA - they said they couldn't and at the time I didn't really know any different

So I asked them to cancel the CPA, they said they couldn't, I asked them again, ad nauseum....then boom, a dozen payments totalling £1200. I went ballistic and said if they allowed CG to take any more payments I would be withdrawing my custom and encouraging others to also.

HBS x

Would be worth complaining again then if it cost you money, as this is from the FCA link I posted earlier.

In addition to securing this commitment, the largest banks and mutuals have agreed to review every individual complaint they have received about the non-cancellation of a CPA and to pay redress where payments have continued to be made despite the customer cancelling the arrangement. This applies to all complaints since November 2009 when the Financial Services Authority (FSA), the FCA’s predecessor, began regulating banking conduct.

heartbreak_star

rizla_king wrote: »

Would be worth complaining again then if it cost you money, as this is from the FCA link I posted earlier.

Oooh thanks, I may well look into that!

Will keep you posted :beer:

HBS x