Payday loan - myloannow refund help

richard9991

I got caught out by this too so rang my bank Barclays and they said hold on and put me through to my loan now and they did the refund back to visa card.


How can Barclays transfer my call to them to a loan broker for a refund?

MillerTron101

No offence but in some off my research you will find out that all financial institutions i.e banks,bulding society's etc... are all connected in some way or another just using different trading names, what i would really like to no is what account the money they took off me, before my refund what account is it held in multiple i no doubt but its gathering interest the longer its there, my own bank said i should just shut my account down on there advice dodgy company but i refused because if i did how the hell would they pay me back!! Idiots

poppasmurf_bewdley

richard9991 wrote: »

I got caught out by this too so rang my bank Barclays and they said hold on and put me through to my loan now and they did the refund back to visa card.


How can Barclays transfer my call to them to a loan broker for a refund?

I really doubt Barclays put you through to My Loans. They will have put you through to one of their own departments who did a charge back of the amount you paid onto the card.

The bank would not have anything to do with such a rip-off company, and would certainly not put you through to them.

richard9991

poppasmurf_bewdley wrote: »

I really doubt Barclays put you through to My Loans. They will have put you through to one of their own departments who did a charge back of the amount you paid onto the card.

The bank would not have anything to do with such a rip-off company, and would certainly not put you through to them.

no it was deffo my loans now the barclays operator said gave me there number i said cant get through it tells to email she said hold on then myloans came on refunded £62.88 THEY SAID THEY WERE KEEPING £5 for admin charges Barclays said that my loan never accept charge back unless they speak to customer

SnowTiger

richard9991 wrote: »

no it was deffo my loans now the barclays operator said gave me there number i said cant get through it tells to email she said hold on then myloans came on refunded £62.88 THEY SAID THEY WERE KEEPING £5 for admin charges Barclays said that my loan never accept charge back unless they speak to customer

Technically it's possible to transfer an incoming call to an outside line/number.

Believing what you say, I'd guess Barclays get a lot of similar calls and have a procedure in place to deal with them.

As I understand it, if you used chargeback you would have the full amount initially refunded. Then, presumably, after MyLoans successfully contested the chargeback you'd have it all taken from your account again and be back at square one.

Barclays appears to be guiding MyLoan customers to obtaining a refunding in the correct way.

Armorica

^^ if Barclays have had a lot of refund requests, they may have agreed a special arrangement.

I note that they are operating on an 'interim permission' regulator. If you have concerns you should complain to firm/FOS/FCA.

Millix

I myself found myself on their webpage input my card details and closed their page down as it was still submitting my information. I instantly called my bank (Lloyds) whom checked my account informed me that no funds had been applied for. A week later £67.88 had gone from my account, was informed My Loan Now had taken the money. Lloyds said that a chargeback request would be unsuccessful and I was to contact the company directly for a resolution as there was nothing Lloyds could so.

I looked them up on line and found this forum......Called The FCA who were really helpful 0800 111 6768 they gave me the information on how to obtain a refund, instigate a complaint directly with My Loans Now and also advised I contact the Financial Ombudsman on 0300 123 9123 and advised me this company are under investigation.

I contacted My Loans Now on 0203 7407445 it does take a while but they do answer eventually, it would appear this is their cental hub for all their products.

Long story short the guy was rude from the off, tried blagging me that I was not entitled to a refund at all as their service was provided instantaneous, I explaind I was seeking a full refund within the 14 days cooling period under the ( Distance Marketing) 2004 regulation, he then argued they didn't need to comply and swiftly stated he would process a 50% refund as a good will jesture. I then replied I would now contact the Ombudsman for further clarification and call back.

The ombudsman took all my details and I was certainly not the first gave me a reference number, adviced they would write to My loans Now requesting a full refund that evening and that refunds were been received within the week but they needed to give them 8 weeks to comply before any escalation.

I called back My Loans Now got a different person who was aware of my earlier call and after advising him that I had contacted the Financial Ombdsman still had the cheek to argue I was not entitled to a refund however he would proceed with a refund minus the £5 and that it would be back in my bank within 2-3 days.

I accepted this offer as it has gone on far too long. They know they are scamming people and know they have to by law refund your money.....it is their job to put doubt in your mind, get you to agree to a lesser repayment. I am now waiting for my refund and will let you know how I get on.

Hope this helps.

I hop

James_B.

MillerTron101 wrote: »

No offence but in some off my research you will find out that all financial institutions i.e banks,bulding society's etc... are all connected in some way or another just using different trading names

That's really not even close to true. There are literally hundreds of banks competing with each other, and there's a whole department in the government whose job it is to ensure that this continues to be the case.

If you are getting yourself into financial troubles, the route out is to look at your income and expenditure, not to imagine conspiracies hiding behind the high street bank facades.

Of course, discipline and planning is harder than ranting about the illuminati, which is why it's so much less common...

James_B.

Millix wrote: »

I myself found myself on their webpage input my card details

That was your mistake, right there. In future, don't go giving out your card details over the internet so easily.

Apples2

Millix wrote: »

I called back My Loans Now got a different person who was aware of my earlier call and after advising him that I had contacted the Financial Ombdsman still had the cheek to argue I was not entitled to a refund however he would proceed with a refund minus the £5 and that it would be back in my bank within 2-3 days.

By hook or by crook you got them on the back foot, they knew you were on to them, great news.

Millix wrote: »

I accepted this offer as it has gone on far too long.

Bah! You knew they had to give you a FULL refund, they KNEW they had to give you a FULL refund but alas, you paid them £5 of your own money. This is why these companies will continue scamming people.
Seldom is the day when people get the full refund leaving these companies with nothing (apart from the profit from the phonecalls).
Even when they give in, they have won.