Madbid penny auction site-can you get your money back?

Ginageestring

I was stupid enough to get drawn into the Madbid Auction site as I am in need of a new phone.....so Ah ha I thought I could win one at a very discounted sum. Wrong!! They take your credits as you bid so you end up with no credits and have bought nothing! Then they seem to be able to take more money from your account to add more credits for you to 'spend' I only joined on May 1st and would like to get my money back or at least stop them from taking more!! How can they do this? If you are thinking of giving this site a go please read some reviews first - I certainly wish that I had done just that. Help please.

mattyprice4004

Unfortunately there's no such thing as a free (or cheap) lunch - as you've found out.
Your best bet is to email them asking to close your account, however their T&Cs make it clear what you're buying and signing up to.

May also be worth contacting your bank, and asking them to suspend any future payments to them.

Powered_By_Pies

You might be able to contact the bank and dispute the second payment as it was made without your permission - they might refund it, but the auction site might get snotty with you if you do.

Also ask the bank if the company's set up some form of CPA (Continuous Payment Authority) on your card - this is mainly done by the likes of pay day lenders for loan repayments, but you might find the auction site use this method to take a 'subscription' payment from your account rather than doing it by Direct Debit, as a DD is easier to cancel.

visidigi

Ginageestring wrote: »

I was stupid enough to get drawn into the Madbid Auction site as I am in need of a new phone.....so Ah ha I thought I could win one at a very discounted sum. Wrong!! They take your credits as you bid so you end up with no credits and have bought nothing! Then they seem to be able to take more money from your account to add more credits for you to 'spend' I only joined on May 1st and would like to get my money back or at least stop them from taking more!! How can they do this? If you are thinking of giving this site a go please read some reviews first - I certainly wish that I had done just that. Help please.

They won't take more if you stop bidding. Its not an auction site, its tantamount to a gambling site.

Powered_By_Pies wrote: »

You might be able to contact the bank and dispute the second payment as it was made without your permission - they might refund it, but the auction site might get snotty with you if you do.

Also ask the bank if the company's set up some form of CPA (Continuous Payment Authority) on your card - this is mainly done by the likes of pay day lenders for loan repayments, but you might find the auction site use this method to take a 'subscription' payment from your account rather than doing it by Direct Debit, as a DD is easier to cancel.

If its in the terms and conditions, which I don't doubt it is, then the bank won't refund anything...

And no, I don't work for madbid

sazaccount

Hi,

I don't know if you will be able to get your money back, but if you go into your account and at the bottom it says "rapid recharge" you are able to disable it from taking money from your account.

xx

arcon5

How can they do this?

Because you actively went to their website, added your bank card details , began bidding and utilising their services.

Basically because you told them to do it - and now suffering a classic case of buyers remorse and looking for somebody to blame, anybody but yourself!