An arranged a direct debit of £10.00 per month. On one month in summer I reached my overdraft limit..?
An arranged a direct debit of £10.00 per month. On one month in summer I reached my overdraft limit. When the direct debit failed I was fined £30.00 by bank. I was sent a direct debit failure email with the contracting company to notify me that it had failed. I emailed the company to cancel the contract - to be told I had to see out the 12 months. The next day a 2nd attempt was made which failed. I was emailed with same email as 1st time. The next day the company emailed me to suspend my account. Even though my account was suspended, five further attempts and five admin charges were incurred, amounting to £150.00.
Why is the contracted company continuing to make payments when I have put a stop on it , although I have requested it to stop, and why are the bank allowed to keep fining me £10 after my request to stop.
Answers:
The charges that your bank have taken are currently under investigation by the office of fair trading, information on Which can be found here.
https://www.which.co.uk/reports_and_camp.
This is the usual course of events.annoying isn't it! if you sign a contract, even on line for 12moths then it is legally binding and if there are not enough funds in your account to cover the direct debit, then the bank is allowed to charge you. I did hear a debate on the radio a few months ago that said, if you write to your bank DEMANDING that any bank charge be paid back to you or you will close the account, then they usually do, said the caller, but i ha vent tried this myself.
Have you canceled the DD with the bank? if not and the company are holding you to the contract they can continue to claim for the funds and each time they do and you have no money the bank will automatically charge you. Call the bank and ask them to cancell the DD but you will have to let the company know you have done this so you can arrange with them how to pay the rest of the contract if you have to.
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Why is the contracted company continuing to make payments when I have put a stop on it , although I have requested it to stop, and why are the bank allowed to keep fining me £10 after my request to stop.
Answers:
The charges that your bank have taken are currently under investigation by the office of fair trading, information on Which can be found here.
https://www.which.co.uk/reports_and_camp.
This is the usual course of events.annoying isn't it! if you sign a contract, even on line for 12moths then it is legally binding and if there are not enough funds in your account to cover the direct debit, then the bank is allowed to charge you. I did hear a debate on the radio a few months ago that said, if you write to your bank DEMANDING that any bank charge be paid back to you or you will close the account, then they usually do, said the caller, but i ha vent tried this myself.
Have you canceled the DD with the bank? if not and the company are holding you to the contract they can continue to claim for the funds and each time they do and you have no money the bank will automatically charge you. Call the bank and ask them to cancell the DD but you will have to let the company know you have done this so you can arrange with them how to pay the rest of the contract if you have to.
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