Payday loan company taking money from my account - NEVER BORROWED FROM THEM

jamiescot

Hello,

A couple of days ago I was in a very desperate situation. I am a student and also work part time but found myself in a very serious financial situation recently where I had no money for food. There was no option for me to borrow money from family and friends as I already owed them money so because I work also, I decided to borrow a loan from a payday loanicon company.

I came across Cash Genie and applied through their website for £100. I filled in all my details, name, address, work details and ... bank details !

After submitting the application I was informed by Cash Genie that my application was successful and I could borrow £100 but before my loan could be issued I'd need to send them a copy of my passport, bank statement and letter with address on it.

After much thought and consideration, I knew that really it wasn't the most sensible idea to take a payday loan and therefore I did not submit any documents to Cash Genie and decided not to go any further with them.

Meaning = I have received not one single penny in loan from Cash Genie. NO LOAN WAS GIVEN

I thought that would be the end of it but I have just checked my bank account and have noticed that on 7 different occasions spanning the past 3 days, Cash Genie (under the name ARISTE/ IPSWICH GB) has taken out £0.10 totaling to 70p. Can someone please explain to me why Cash Genie is taking money from my account when I have received no loan from them??? Is it legal? I always try to read the small print in contracts but I did not find anything that said they could take money from me if I haven't actually received any money from them.

I know it is not a lot of money they have taken from me, but I am still enraged as much as I would be if it was £700!! I am also very very scared that now they know when my next paydate is, they will clear my account and leave me with no money.

Someone please help, offer some advice.

oh! and yes I have tried contacting Cash Genie countless time by email. At present I don't have any money to call them but I'll be visiting my parents home at the weekend and if the situation hasn't stopped then I'll be calling them non stop.

Thanks.

InsideInsurance

How are they taking it? You say you gave them bank details or did you mean debit card details?

If you havent given them any card details it must be a DD that they're using in which case advise your bank the DD wasnt authorised and so 1) cancel the DD and 2) refund the transactions under the DD guarantee

jamiescot

I gave them my debit card details.... That was because up until the last minute, I was planning to take a loan with them. I know it was stupid of me but the point is I have received no money from them whatsoever, so why are they taking money from me?

Apples2

Try phoning then in the first instance.

Write a letter of complaint next. Keep our short, without emotion and factual.

InsideInsurance

jamiescot wrote: »

I gave them my debit card details.... That was because up until the last minute, I was planning to take a loan with them. I know it was stupid of me but the point is I have received no money from them whatsoever, so why are they taking money from me?

You could still ask your bank to deal with them as fraudulent transactions as you didnt authorise them but you may have a fight with them as some banks (eg barclays) take the strange position that if you give your card number to a company they charge whatever you want whenever they want.

Are you sure they have actually taken the money and not just ringfenced it with an authorisation? 10p certainly sounds like an ID/ validation the card is active

Apples2

As soon as you gave them your details they would've set up your account with a CPA, which allows them to take whatever they like, whenever they like, up to the amount outstanding.

In this case it does appear "fraudulent" but the bank won't know that.

It would be worth instructing your bank to cancel the CPA. You may have to be bullish with the bank but it is your right to cancel it.

Fruit_and_Nut_Case

More useful info on another site.