hidden subscriptions on loan sites

Cactus76

I was stupidly looking for a loan on a quick loan site i entered details but decided against the loan

but i have all off a sudden been charged a subscription to acceleratecoach.co.uk

they refuse to fund it and I there is nothing I can do to get my £25 back actually they were pretty nasty about it. I got no documents to say I was signed up for it and no warning what the payments were to be or the date.

I'm so angry and humiliated

help please

foxy-stoat

No help for you I am afraid, just don't do it again - and make sure you cancel the payment at your bank, as it may be a monthly subscription fee for all you know - assuming you didn't read any of the terms.

Willing2Learn

I just googled acceleratecoach and it seems that it is money budgeting software by monthly subscription via CPA (Continuous Payment Authority). So make sure to contact your bank to cancel the CPA. Ouch, it is £25.22/month (an eye-watering £302.64 annually.

If you are looking for good budgeting software, then I would recommend YNAB. It costs USD $84/year and is recommended by a lot of MSEers. There is also 'Emma' or 'Yolt', both of which I believe are free.

Edit: Have a read of the following FCA article:
Continuous payment authorities: it is your right to cancel

Edit #2: The AccelerateCoach website states "After your free 5-day trial you’ll be billed with regular monthly payments of £25.22. When you register you enter into an agreement to pay this amount, so while you are free to cancel at any time you cannot reclaim any fees paid up to that point"

Clive_Woody

They don't appear to be a lender, plus it seems very clear on their front page how much they charge (after a 5 day free trial) and what their product is.

DCFC79

Cactus76 wrote: »

I was stupidly looking for a loan on a quick loan site i entered details but decided against the loan

but i have all off a sudden been charged a subscription to acceleratecoach.co.uk

they refuse to fund it and I there is nothing I can do to get my £25 back actually they were pretty nasty about it. I got no documents to say I was signed up for it and no warning what the payments were to be or the date.

I'm so angry and humiliated

help please

Let me guess you entered your card details, what did you think was going to happen, why would they ask for your card details if not to charge you.


If your looking for a loan use a traditional lender, had you tried 1 of these ?


Did they turn you down ?

Ben8282

Is it normal to enter your credit card details when looking for a loan? For what possible purpose? Did it not occur to you to question why you were being asked for this information?

Cactus76

The card details were for the loan repayments and ID verification at no time did it say you are also signing up to this company too !

I contacted my bank and stopped any future payments

DCFC79

Cactus76 wrote: »

The card details were for the loan repayments and ID verification at no time did it say you are also signing up to this company too !

I contacted my bank and stopped any future payments

What was the loan website ?

Ben8282

Cactus76 wrote: »

The card details were for the loan repayments and ID verification at no time did it say you are also signing up to this company too !

I contacted my bank and stopped any future payments

But you didn't take out the loan so what repayments?
ID verification? Are you sure this was a loan website?

SnowTiger

Cactus76 wrote: »

I was stupidly looking for a loan on a quick loan site i entered details but decided against the loan

but i have all off a sudden been charged a subscription to acceleratecoach.co.uk

they refuse to fund it and I there is nothing I can do to get my £25 back actually they were pretty nasty about it. I got no documents to say I was signed up for it and no warning what the payments were to be or the date.

I'm so angry and humiliated

help please

Website and product does look a bit dubious.

Did you sign up at https://acceleratecoach.co.uk/? It seems pretty obvious it doesn't offer loans.

One last straw you could grasp at is that they don't offer a legal way to cancel an account.

https://acceleratecoach.co.uk/cancel-your-account/:

Follow these simple steps to cancel your subscription with Accelerate Coach. If you have any questions about cancelling your account you can call us on 0844 693 4941 from Monday to Thursday between 9am and 6pm or Fridays between 9am and 5pm.

Numbers beginning 0844 are premium rate.

The company should providing pricing information for calls to the number.

And after sale customer service numbers shouldn't be premium rate anyway.

https://en.wikipedia.org/wiki/Non-geographic_telephone_numbers_in_the_United_Kingdom:

In June 2014, the Consumer Rights Directive will make it illegal to use "numbers that cost more than the basic rate" for customer services and complaints.

DCFC79

You can keep control your money by not signing up to accelerate coach.