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Banks giving away my money


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Best way is to report your card lost now and again that way if anyone tries to take a payment from it it is refused without charge.It costs nothing for a new card and the new one is a different number.

 

If the payment is a "Recurrent Transaction" cancelling the card will not stop it. If the payment is not cancelled by the originator then a "STOP" request can be sent via the bank, but this assumes the merchant processing the payment is compliant with the "STOP" scheme.

 

So, the lesson in all this is do not give your debit card details for regular payments, get the company to set up a Direct Debit instead.

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http://www.guardian.co.uk/money/2011/jan/22/aa-membership-renewal

 

You have fallen foul of the "continuous payment authority" so beloved of the AA. The company has a clause within its terms and conditions that allows it to renew your contract each year unless you terminate. It causes endless problems for those who think they are letting their membership lapse, only to find they have paid.

 

In reply the AA said: "The AA offers its members the facility to automatically renew their membership to provide a convenient and less time-consuming way of ensuring their breakdown cover remains in place. It is always the members' choice as to whether they choose this option as other payment methods are available. Members are notified, prior to renewal, of the renewal price and when payment will be taken, in case they wish to change the arrangement."

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Coming from someone who gave advice without knowing how things really work...........I stand by my comment and thank you.

 

I actually don't recall you giving any advice at all.....Just commenting on others! :suspect:

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Last year I took out an AA policy on my debit card. Last week AA took out this years money without asking ... I was told if my insurance next year trys to renew itself with out my permission over £2000 they will pay it.

 

Are you referring to AA breakdown cover, or AA car insurance?

 

If it's breakdown cover, I believe they DO take the money out annually without sending a reminder, but they should have informed you of this when you originally signed up in your first year!

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