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Continuous Payment Authorities & Lying Bankers

5/29/2012

6 Comments

 
Lying Bankers
The other day I decided to cancel a subscription to an online movie rental package (after all two was probably a little excessive).  Although I expected my last rentals would probably arrive back within the allocated time, I was cutting it a little fine and didn’t want next month’s payment to be taken out automatically before they’d registered the return of the DVDs.

I checked my online bank account and the rental package wasn’t included amongst my direct debits, so figured it must be something I was paying for through my debit card.  Turns out it was a Continuous Payment Authority (CPA).  I rang the Co-op, who provided the account in question, to ask them to cancel any future payments from the rental company.  I was told that I needed to cancel the payments with the company themselves.  I explained that I’d already cancelled the package but wanted to make sure that no further payments could be taken.  I laid it on pretty thick, stating how important it was that the payment didn’t go out because I couldn’t afford it, etc. Again, they insisted that it was out of their hands and that short of starting somekind of long winded dispute that would have taken weeks; there was nothing within their powers to help my situation.  I would have probably just accepted their word for it had I not vaguely recalled something I heard on the radio about banks not following the regulations in such circumstances.  So I had a quick Google and came across a very useful page on the FSA (Financial Services Authority) website which very clearly stated what banks’ obligations were regarding regular card payments. 

With my newfound consumer confidence I rang the Co-op a second time, simply requesting a cancellation for all future payments to the DVD rental company.  Once again I was told that there was nothing they could do and that I really did have to contact the company themselves.  I informed them that according to FSA guidelines they were obliged to stop payments directly if I instructed them to.  Suddenly their assured but supposedly understanding and helpful tone changed.  They became a little vague and non-committal but essentially said they would ensure no further payments were taken from my account.  I told the chap on the phone that I thought it was a pretty poor service to be told by two of the Co-op’s representatives that I couldn’t do something that they knew full well was my legal right.  They mumbled something about “taking note of my concerns”, so point made I left it at that.

In my case it was only £15 but it could easily have been a stress inducing larger figure, or a variable amount with questionable validity.  Whilst you do have the right to cancel these payments, I should be clear that you are still liable for any money you may owe, but I know I’d rather dispute the matter with my money safely in my wallet.



6 Comments
Harry Burble
5/29/2012 07:40:58 am

Another great tip from Now or Never. (i think u heard about it on radio 4 cos so did I!) Didn't some Now or Never reader save £100s with your guide on how to get bank charges back? Soon we'll have the system on it's knees!

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Tug
5/29/2012 05:59:19 pm

Pretty sure it would have been Radio 4, as I listen to that shit all day. Yep, Youth Section was flogging copies of Now or Never! to folk at a punk gig and he bumped into some chap who was very grateful for a piece we'd run in a previous issue about bank charges - apparently he'd successfully claimed £500 back using our guide. To this day, I think it could be the only evidence that Now or Never! has had any positive effect whatsoever!

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Rob
5/29/2012 03:30:37 pm

Thanks for the FSA advice. I had been advertising with my local newspaper and a third agency on behalf of the paper had been taking money from me even when I had specifically said I didn't want to advertise on a particular week. I too was told by my bank to write to the company direct, even after doing so, money was still deducted for unwanted ads. Even after severing all connections with the company, money was still deducted. I will be in my branch forthwith and quote the FSA guidelines to them.

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Tug
5/29/2012 06:00:24 pm

Good luck Rob - let us know how you get on!

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Oswald Repents link
5/30/2012 04:28:26 am

Thanks for the tip Tug. Interesting that the Co-op was involved. I think we're used to them and others selling them as the 'ethical choice' that it is good to have reminders that the institution is still just a bunch of bastards, even if a slightly nicer bunch.

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Atlanta Bookkeeper link
9/5/2013 09:03:24 pm

Considerably, the article "Banking Law" is really the freshest on this notable topic. I concur with your conclusions and will certainly thirstily look forward to your forthcoming updates. Tax is a financial charge or other levy imposed upon a taxpayer. Saying thanks can not simply be sufficient, for the exceptional lucidity in your writing.

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