Money disappeared from bank account

cdch9481

I owe £180 to a loan company and decided to pay it off the night before. I noticed that the money had been taken from my account, however the company then emailed me to tell me that the payment had failed. A few hours later I received another email saying that the payment had failed again, and I noticed that another £180 had been taken from my account.

The £360 has been taken from my account, however it is now showing up in my transactions. It's like the money has disappeared into thin air. I have emailed the company but they need proof that the money has been taken twice, however I cannot get this proof when my transactions are showing nothing. I have even checked my pending transactions and nothing is there, I am so confused

CakeCrusader

Have you spoken to your bank?

soulsaver

cdch9481 wrote: »

I owe £180 to a loan company and decided to pay it off the night before. I noticed that the money had been taken from my account, however the company then emailed me to tell me that the payment had failed. A few hours later I received another email saying that the payment had failed again, and I noticed that another £180 had been taken from my account.

The £360 has been taken from my account, however it is now showing up in my transactions. It's like the money has disappeared into thin air. I have emailed the company but they need proof that the money has been taken twice, however I cannot get this proof when my transactions are showing nothing. I have even checked my pending transactions and nothing is there, I am so confused

Yep.. Me too.

cdch9481

Did it get resolved?

DCFC79

cdch9481 wrote: »

Did it get resolved?

Did what get resolved ?

Are you asking us if your issue has been resolved ?

seashore22

If your bank account balance is down by £360 there must be a transaction there somewhere.

Do you use online banking? How do you know that 2 transactions of £180 have taken place?

nyermen

however it is now showing up in my transactions

do you mean now or not? If now, then clearly they've taken the money twice, and this is provable.
If you mean not - then it sounds like the company has reserved the money, but it hasn't cleared. In the next X days (X depending on the bank), this money will either release (be available again) or will be debited (and entries will appear).

I would suggest if it's the second situation, that the loan company has an issue with their payments system - it's successfully reserving, but then not completing the payment, which is more likely their end than your bank. As a warning - releasing can take up to a month (in the case of HSBC, thats how long I waited on a credit card for a failed payment), so don't keep trying, or your available balance will keep dropping.

agrinnall

DCFC79 wrote: »

Did what get resolved ?

Are you asking us if your issue has been resolved ?

I suspect that the OP thinks soulsaver's response meant they had the same issue - even more confusion!

DCFC79

agrinnall wrote: »

I suspect that the OP thinks soulsaver's response meant they had the same issue - even more confusion!

Yes I saw that and thought the same, the bit in bold didn't give it away though.

Westie983

Hi,

can I just ask some questions so I can try and help you.

1. Is the payments showing in your pending transactions?
2. If not - has your available balance gone down?
3. Is it showing in the transactions on your bank statement?
4. If so is it showing two payments have been taken?

If the payment has failed but your available balance is reduced then you will find it returns to your balance within 5 - 7 working days, and you can make other arrangements to pay.

If the payment is showing twice in your statement then you will need to contact the loan company, but if you have issues with this contact your bank and they will put you on the phone to the debit card disputes team and they will try and help.

Westie983