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Easymoney rejected my monthly direct debit
iabw12
Posts: 110 Forumite
I've been with them for about four years and I invest regularly via DD. This month they rejected my payment and when I called them they told me they've paused everyone's debit as their provider isn't giving them the required service levels (whatever that means). So, my question is, has anyone else had the same experience and does anyone know what it means?
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Any thoughts or advice please?0
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Do you have a specific concern? If it's just about how to make an investment, can you make a deposit by e.g., debit card instead?iabw12 said:I've been with them for about four years and I invest regularly via DD. This month they rejected my payment and when I called them they told me they've paused everyone's debit as their provider isn't giving them the required service levels (whatever that means). So, my question is, has anyone else had the same experience and does anyone know what it means?0 -
It's just that I've never heard of a financial institution rejecting a deposit, I just wonder why they would this and what's wrong0
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I have. Previous examples have been when the regulator has stepped in due to concerns and stopped money being added or the firm is closing down.iabw12 said:It's just that I've never heard of a financial institution rejecting a deposit, I just wonder why they would this and what's wrong
Not saying that is the case here but they are the scenarios I have seen previously.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
That doesn't bode well?! I know they're regulated and funds are safe but it doesn't make me feel any easier0
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Maybe it is as simple as they say, they're unhappy with their service provider so sacked them off and in the process of getting a new one.
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Easymoney is a trading name of E-Money Capital Ltd and as far as you can ever tell with these things it appears to be a profitable going concern. I don't know whether there are any issues surrounding the type of property investments it offers but I presume it's just acting as a broker.iabw12 said:That doesn't bode well?! I know they're regulated and funds are safe but it doesn't make me feel any easier
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