Thanks to earlier advice from HJ and others here I handed back my Options Fiesta and bought a brand new Fiesta Ghia (8 miles on the clock)from a car supermarket for £8000 plus car tax and a hundred or so for bits and pieces. It's a cracking little car and over £3000 cheaper than my local dealer (CG Ford, Lake District). So thanks for your advice guys - I owe you a pint each.
Unfortunately, I neglected to cancel the standing order and Ford Credit took an extra payment from my account, leaving me in debit which cost me money -grrr! After 12 days and two letters they finally answered and said they were correct and I owed them the payment. This was followed by two demands for £0.00 - yes, nowt, - I ask you!
To cut a long story short, I've had to pay my bank for back statements to prove my case and I still haven't got my money back yet. I would advise anyone to avoid Options like the plague.
x Marion.
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Get online with your bank and you can print out your statements on your comuter for nowt!
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Hi Marion
Was it a standing order or a direct debit. If it was a DD then your bank are bound by the Direct Debit Guarantee which states
This Guarantee is offered by all Banks and Building Societies that take part in the Direct Debit Scheme. The efficiency and security of the Scheme is monitored and protected by your own Bank or Building Society.
If the amounts to be paid or the payment dates changed you will be notified 10 working days in advance of your account being debited or as otherwise agreed.
If an error is made by the holder of the Direct Debit or Bank or Building Society, you are guarateed a full and immediate refund from your branch of the amount paid.
You can cancel a Direct Debit at any time by writing to your Bank or Building Society.
Dont be put off by the clerk you speak to, they are trained to get you to approach the oraganisation that was paid, totally ignoring their responsibilities
ASk to see a senior Manager should this happen.
Just a thought!
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"You can cancel a Direct Debit at any time by writing to your Bank or Building Society."
Alyn,
I thought that you also had to cancel it (Direct Debit) by writing to the outfit you had given the authority to make the DD.
I had a situation where I had cancelled the debit, yet the organisation (AA) screwed up and still took the money. Bank's view was that they were not responsible it was the AA's cock up, which in a way it was. They refused to accept that they were in any way at fault. It was resolved one way or another and I was not out of pocket, but it was damned annoying at the time. Bit unsettling too, after all this is a system which operates on trust, mind you since when could you trust banks. To any bankers reading this, YES YOU!
Needless to say voted with my feet from both organisations after that one.
Can someone give a definitive answer on that please, I will trust you one last time ;-)
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no you only need to tell the bank for either DD or SO
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Hi Stuart
The bank was wrong. As I said earlier under the guarantee they are obligated to refund your money, but the duck their obligations.
You do not have to notify the other party, it's just polite so to do
Alyn
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If the bank do not hold your authority to pay an SO or DD then they are liable if they disregard your instructions.
We collect over 17,000 payments by DD each year. If the bank does not hold a valid authority it reverses the collection, that happens for one reason or another to 15 or 20 items per month.
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Alyn is right.
The Direct Debit Guarantee is very clear. The Bank MUST refund the customers payment upon demand.
Your Bank may try to give you the run a round but be very firm and if they persit ask to invoke the complaints procedure.
Interestingly there is no time limit and I know of several cases where folk re-claimed payments some years later. Of course the person/company can sue you for that amount if they feel you are indebted but that is a different matter.
HTH
Martin
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The discussion above is true for direct debits from your current account. However, the equivalent debit authority from credit card accounts is different. It can only be cancelled by the other party, and not you. Even if you cancel your credit card, the credit card company can chase you later for payments taken months after the card was cancelled.
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