CYOTA INC been into my bank account

Skybird

My bank of Scotland account had a mysterious £7.50 pending for over a week. I phoned the bank today and was told it was actually three amounts of £2.50, debited, but now appearing to be going back into the account. On pressing further the lady told me it was an American business called CYOTA INC, who I must have bought something from. DEFINITELY NOT.
A minute of googling and I found out they are a private company based in New York who offer online security and anti-fraud solutions to financial institutions. Anyone think this is wierd and a bit cheeky of the bank to allow this to happen without my permission first? Or did it happen without the bank's consent? It certainly did not happen because I purchased something with my card, It's a barely used account used mainly for paying life insurances.

clueless1682

From my experience, Cyota will run a test on your card for many companies before the company itself will take the amount for the account, normally for £1. Since its an American company, there would be a £1.50 charge, hence the £2.50. This charge wouldnt come off your account, it'll just drop off after a few days.
If you're sure you havent tried to buy anything recently using your debit card, I'd call and get the card cancelled, it sounds like your card details have been stolen and some fraudster is testing the card.

topnotch_2

Hi Skybird,

More info on cyota is here

http://forums.moneysavingexpert.com/showthread.html?p=15221607#post15221607

Mikeyorks

It's the same as several Halifax threads relating to pending values of £2.50. If you get the detail - it's a transaction by RSA Inc. Halifax staff claim to know nothing of it - but it's the software verifier behind their Halifax Secure (in house version of Verified by Visa). The £2.50 transaction is only applied on initial card verification .... not on purchase transactions you make.

But it is ridiculous that Halifax (and apparently others) don't signal this transient charge will be made. They have several pages of FAQs on Halifax Secure ...... and one of them asks 'Will I be charged for this service'. The bald answer of 'No' ........ is readily adjusted to include wording of the initial £2.50.

.......not, on the evidence of this forum, that many would read it ....