LRS - Unkown Transaction on my statement

UKGav

Hello there,

Bit of a long shot but has anyone else had LRS on their bank statement? It's from last year (doing my accounts) so not near enough in time to remember. Below is an example

CARD PAYMENT TO LRS,xx.xx GBP

I've got a few of these. I did enquire with Santander and all they could tell me was they're in London

Many Thanks

Gavin

grumbler

It's worth adding that you did google for 'lrs london'...

Vortigern

Phone bill - Line Rental Saver?

Hellzapoppin

Each retailer has what the industry calls a Merchant Category Code, which can tell you the nature of the merchants business. Your bank has access to this information and more, like whether the payment was authorised by PIN entry or done over the internet.

They should be able to provide you with this information to enable you to recognise the payment or for you to report it as fraudulent.

UKGav

This is great advice thank you!

UKGav

I did put this to Santander about a Merchant Category Code and they said they were unable to help anymore. Which I find strange as if I raised a dispute with it - who would they contact?!

grumbler

They don't contact anyone.
They have to reverse the transaction ('chargeback') using Visa/Mastercard procedure. Then the merchant contacts them (or its bank?) if it's unhappy with the chargeback.

mgdavid

grumbler wrote: »

It's worth adding that you did google for 'lrs london'...

OP - could you respond on this point?

Hellzapoppin

It may be that the transaction information isn't known to the front line telephony agents, but the bank definitely has all the details I mentioned previously.

They are forcing your hand. Report it as an unrecognised transaction and demand a refund under the Payment Services Regulations, until they can show you that the transaction belongs to you.

bengal-stripe

Hellzapoppin wrote: »

Report it as an unrecognised transaction and demand a refund under the Payment Services Regulations

But isn't there a limit of 120 days and the transactions are at least eleven months old?

gavininskip wrote: »

It's from last year (doing my accounts) so not near enough in time to remember......I've got a few of these.

Hellzapoppin

I didn't notice the bit about it being from last year, you have 13 months to report an unauthorised transaction under the Payment Services Regulations, so the OP may still be in time to do so.

If he isn't in time, I would suggest that he makes a formal complaint and escalate to the financial ombudsman service if still unresolved, the bank will have the information that I said they do and it should help the OP to recognise the transaction, withholding it from him is definitely grounds for a complaint.