Don’t let unauthorised payments go unnoticed
SOMETIMES you have to put your money where your mouth is and take your own advice – which is why I sat down last weekend and went through my bank accounts, bills and other outgoings.
I was horrified. I discovered mystery payments I hadn’t authorised, direct debits that should have been cancelled but hadn’t been, and a subscription payment for something that I didn’t recognise, that I had never agreed to. Dealing with it was annoying, but I’m glad I did.
So here are a few tips to help you if you’re facing down your finances... DON’T RECOGNISE A TRANSACTION?
IT’S clear where some debits on your bank account or credit card come from.
But others may seem random or strange.
You should always query anything you don’t recognise with your bank or card provider. They can contact the other party’s bank and ask them to confirm who has taken the money and make them prove why they have a right to debit your account. If they can’t, they have to give the money back. UNAUTHORISED TRANSACTIONS
SOMETIMES it’s clear that you haven’t authorised a payment.
Firstly, tell the bank or credit company that you are ‘disputing’ the transaction. They should refund you the money immediately while they investigate.
Tempting as it is to say ‘fraud’, be wary. Fraud is a more serious allegation, so there are procedures to follow, forms to fill out and you’ll need to speak to a specific fraud team. So dispute something in the first instance for a quicker result. CHARGEBACK is known as ‘chargeback’ and is an industry scheme run by the plastic card providers in the UK. It’s not law, but it is really useful when it comes to getting back cash paid on a plastic card.
If you haven’t authorised a payment, a firm might be about to go bust or you’ve been defrauded a chargeback can be the quickest way to retrieve your cash.
Be aware that if the firm that debited you has a ‘contract’ proving you authorised the payment then the chargeback may be reversed. SECTION 75
IF you paid for goods or services on a credit card and they cost between £100 and £30,000 (or any amount on a deposit) then you might be able to claim the money back from the card provider if the goods don’t turn up or have been ‘misrepresented’.
This is part of the Consumer Credit Act (section 75) and is a great piece of legislation if you’re in dispute with a business. Though all these methods might help you get your cash back if there’s a problem, if you’ve been debited without permission or if you’ve been ripped off, you should always make a complaint.
By registering your unhappiness, it makes it harder for the business to get away with unacceptable behaviour – and I’ll be tackling dodgy practices through 2019 right here!
■ Resolver can help you sort out complaints about pretty much anything – so why not help a friend or relative sort out a problem, get a refund or make a claim.
■ Check out resolver.co.uk and share your experiences at yourstories@resolvergroup.com