Bank DD Entry Query

ZeroG82

I'm finally getting around to sorting out various things with my finances and there's one entry in my bank statements that I can't remember what it was for.

There's an entry for a Direct Debit that just says PSL with a reference number that I've been paying £8.99 a month for since 2019. I can't for the life of me remember what this was for. I think it might have been to do with a car I bought around about the same time in 2019. A Google search brought up a link to an older message in the forums here, from 2020, about a utilities company which they list vehicle recovery as part of their services but I definitely never signed up for anything like that.

Weirdly the Direct Debit doesn't show up in the list of Direct Debits in my app (Bank of Scotland) so I'm unsure where to turn to for further info to find out if it's something I can cancel.

flaneurs_lobster

A guess, Premia Solutions Limited. Insurance products for posh new cars (gap insurance, alloy wheels insurance etc). 

marcia_

 Bit of googling led to stop loss insurance 

https://www.arnoldclark.com/cdn/static/servicing/complete-aftercare/vsi/VSI_01_02_19.pdf

https://en.m.wikipedia.org/wiki/Stop-loss_insurance

Band7

ZeroG82 said:

 

Weirdly the Direct Debit doesn't show up in the list of Direct Debits in my app (Bank of Scotland) so I'm unsure where to turn to for further info to find out if it's something I can cancel.

If it doesn't show in your list of Direct Debits, it most likely isn't a Direct Debit but a CPA, Continuous Payment Authority. You need to talk to your bank.

ZeroG82

marcia_ said:

 Bit of googling led to stop loss insurance 

https://www.arnoldclark.com/cdn/static/servicing/complete-aftercare/vsi/VSI_01_02_19.pdf

https://en.m.wikipedia.org/wiki/Stop-loss_insurance

This was bang on thanks. We bought a car from Arnold Clark and the price matches. Looks like it is a 4 year policy that must now be finished as no payment was taken this month when I checked again.

ZeroG82

Band7 said:

ZeroG82 said:

 

Weirdly the Direct Debit doesn't show up in the list of Direct Debits in my app (Bank of Scotland) so I'm unsure where to turn to for further info to find out if it's something I can cancel.

If it doesn't show in your list of Direct Debits, it most likely isn't a Direct Debit but a CPA, Continuous Payment Authority. You need to talk to your bank.

First time I've heard that term. I thought it was just Standing Orders, Direct Debits and Subscriptions.

grumbler

ZeroG82 said:

Band7 said:

ZeroG82 said:

 

Weirdly the Direct Debit doesn't show up in the list of Direct Debits in my app (Bank of Scotland) so I'm unsure where to turn to for further info to find out if it's something I can cancel.

If it doesn't show in your list of Direct Debits, it most likely isn't a Direct Debit but a CPA, Continuous Payment Authority. You need to talk to your bank.

First time I've heard that term. I thought it was just Standing Orders, Direct Debits and Subscriptions.

>>

Continuous payment authority

penners324

Subscriptions are CPAs

Zanderman

penners324 said:

Subscriptions are CPAs

But some are DDs.  And I've even got one or two old ones that are SOs. Depends what the subscription is.