Cancellation Hero Successes

Former_MSE_Dan
Former_MSE_Dan Posts: 1,593 Forumite
Combo Breaker First Post
edited 21 February 2012 at 7:06PM in Budgeting & bank accounts
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Hi,

If you've read the Cancel Direct Debits article and managed to save some cash by examining your bank statements to clear out the dead wood of forgotten Direct Debits, Standing Orders and Recurring Payments, we want to know about it!

Please reply saying for each thing

What was it you cancelled?
How much were you paying?
How long had you been paying without using it?


Please reply to the thread letting us know what you found and how much it cost a year, and you are now saving! (use the Regular payments audit calculator to get this)

If you aren't reporting your successes, but want to discuss the article in general, please post in the Cancel Direct Debits Discussion thread.

Cheers
Former MSE team member
«13

Comments

  • Hi I checked my bank statement 5 months ago and found that Virgin Media had been taking a re acurring amount off my debit card for 6 months without me knowing. It took me 5 months to get my money back. :confused:

    I had been paying £20 a month for Broadband.

    Thanks

    Sean Shuter
  • pkempc
    pkempc Posts: 125 Forumite
    First Post First Anniversary Combo Breaker Home Insurance Hacker!
    I used to pay my metered Thames Water bill by direct debit every month like a good boy until they decided to up my monthly amount by 162% from £ 26 to £ 42 in Aug 2005 for no good reason other than to ensure I didn't underpay. There is no discount for paying monthly ( as per other utilities ) so I told them to cancel the direct debit and I would pay their 6 monthly bills in arrears thanks all the same - thus I earn interest on the money up until the moment I pay the bill by electronic bank transfer.

    Now I can pay my Thames Water bill using a cashback credit card through their website & still pay 6 months in arrears & then get 50'ish days interest free to settle my credit card bill & for no extra fees or charges.:beer:

    http://www.thameswater.co.uk/UK/regi...nload_0012 77

    Oh and all my metered bills since Jul 2005 have worked out at as follows:-

    Jul 05 - Dec 05 - £ 119.16 ( £ 23.83 )
    Dec 05 - Jun 06 - £ 127.05 ( £ 21.18 )
    Jun 06 - Jan 07 - £ 158.95 ( £ 26.49 )
    Jan 07 - July 07 - £ 160.95 ( £ 26.83 )
    Jul 07 - Jan 08 - £ 151.33 ( £ 25.22 )

    So that means I have paid a total of £ 717.44 ( instead of £ 1218 ) 6 months in arrears with the money sitting in my account earning me interest instead of Thames Water.
    Assume 1st – then check the facts!
  • Regularly reviewing your direct debits etc is a good idea. I did this fairly recently and found out that somehow I was still paying home insurance on a house I didn't live in anymore! Cancelled this and got over £600 back as a refund!:)
  • amb28
    amb28 Posts: 11 Forumite
    I am a sky customer for broadband, phone and telephone. I was gettign fed up with all the deals advertised for new customers, so phoned and asked what they could do for a loyal existing customer. Without hesitation I was given free line rental for a year saving me nearly £150. :T

    Now who else can I call ... ?
  • At the beginning of the month we wrote up a monthly budget and now go through our bank account at the end of every week to tick off the budget sheet what has gone out of our account.

    We noticed £31 going out to CPP... we searched CPP and found the company, and also an MSE thread about being missold CPP (Card Protection Payment) - so we rang them and found they had an address my dh had lived at 6 years ago and no other details about us; and they'd been dd us once a year since then!

    So, we cancelled - and have written to the bank who gave them our details to try and claim back the £217 we've paid them unwittingly over the last 7 years.

    Being in control of finances feels great!:j
  • I've just negotiated a much smaller line rental from Three UK and got an unwanted upgrade to sell on eBay.

    They've been overcharging my wife £3 per month too and refused to refund until I'd scanned and emailed (or faxed) the original contract which they already had in their posession.

    I've also just claimed back £650 in incorrectly charged (I switched and they kept taking) electricity from ManWeb and Scottish Power have just refunded £350 overpaid and reduced the monthly dd right down.

    It is extremely worthwhile going through your online bank statements and seeing what all the dd's are for.

    Sad thing is I didn't do it sooner and it was only when money became very tight I wondered "Where has it all gone?".

    -AS
  • Saved £127 in 2 mins
    Annual renewal £178
    Direct on website only £101
    Why do they penalise existing customers?
    Finally done through Quidco at £50 cash back (provided it appears have had problems with AA cash back in the past)
    New net cost £51
  • tiptoes27
    tiptoes27 Posts: 167 Forumite
    First Post First Anniversary Combo Breaker
    I have had applicance covor with D & G for years which covers all appliances in my house. When I read this article and checked the policy I found that it only covered repairs on items up to eight years old with total replacement cover on items under five years old. I realised that most of my applicances are over eight years old so would not be covered. I did have two things which were between five and eight years old but if these could not be repaired, they would only offer 30% towards the cost of new ones. I have a couple of new TV;s and these came with free five year cover. I was basically paying for two items for the past year. I have now cancelled £22.00 per month. Thank you MSE you have saved me money again!
  • I read about your super hero audit so tried to do one on my account.

    I did, and noticed a direct debit coming out every 3 months for £35.65 from Carphone Warehouse. I rang them and they informed me that it was for their Insurance wing (the Geek Squad). So they gave me a free phone number (nice of them!) to ring and I got speaking to nice lady who explained that I had been paying into the insurance policy since 2007! I had switched my contract in 2008 directly through O2. She offered to terminate the contract, put me on hold and then told me that I may also be due a refund on it.
    I got an email today to say that the refund department has rubber stamped her findings and now I am due a lump sum of £575.20.

    Thanks Money Supermarket :-)
  • pmduk
    pmduk Posts: 10,655 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    Thanks Money Supermarket :-)

    I confused as to where Money Supermarket come into it.
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