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Hello,
I was wondering if anyone can help with a situation with my bank that I'm having at the moment. I'll try to explain as best as I can....
I had a payday loan back in January with CFO (Capital One Finance) which defaulted as I had other issues going on with my income. I then cancelled my bank card and received another one. I eventually set up a payment plan with them to start in May. At the beginning of April, I applied through another payday loan company and was refused by them but directed to the CFO website, as soon as I realised where I had been re-directed to, I closed down the browser. Towards the end of April, payday was looming and more importantly, so was my wedding but I knew that the only payments coming out of my bank account were one final payday loan and then i could transfer money to my soon to be wife for the household bills and then for my obligations. On my payday, CFO took £1149 out of my account (basically emptied it). I spoke to my bank (they were the ones that told me it was CFO) and told them that i did not authorise any payments to them with my new debit card. They fobbed me off and told me to speak to CFO. I rang CFO and some very smug young lady told me that what was owed, so they'd taken it. My debt with them was just under £500 but she said charges had been added to the account and there was nothing I could do. I asked her how they had got my card details and her response was 'it doesn't matter does it?' I then went to my bank a few more times and was told there was nothing at all they could do.
Move forward to September (and yes, I did get married. My now wife is amazing and was very forgiving?!) and it still bothered me that my bank could allow this so I looked online (can't remember where) and found that my bank shouldn't have allowed the payments to happen. I contacted HSBC and was told that someone would phone me back the next day, I missed the call and thought that I would phone back the next day. I checked my bank account that afternoon and found that HSBC had refunded the payments, I sat there in shock and for the next couple of weeks, tried to work out whether to draw a line under the whole episode or seek compensation for the distress caused by HSBC back in April as they were very quick to authorise a refund when I threatened them with the Financial Ombudsmen. Then on Friday, they had reversed the payment again meaning that I am now nearly £1000 over my overdraft as I had used the money to pay off a few debts. I have now raised a complaint with HSBC which they say can take up to eight weeks to investigate!! They are also saying that as we have now gone over the 120 days limit for chargeback problems, I don't stand a chance of getting anything back. A few things don't add up to me and they are as follows;
1. I never gave CFO my new card details so they must have obtained them fraudulently so the payments were taken illegally?
2. If there was no chance of HSBC being able to get the chargeback (over 120 days), why credit the payments back?
3. The FSA state on their website that as long as you raise any issue with a payment from your account within 13 months, the bank have to act, where is their 120 days coming from?
Every time I speak to HSBC on the phone, their reasons change, they can't seem to give me a quantifiable reason for anything!!
Any help would be greatly appreciated....
I was wondering if anyone can help with a situation with my bank that I'm having at the moment. I'll try to explain as best as I can....
I had a payday loan back in January with CFO (Capital One Finance) which defaulted as I had other issues going on with my income. I then cancelled my bank card and received another one. I eventually set up a payment plan with them to start in May. At the beginning of April, I applied through another payday loan company and was refused by them but directed to the CFO website, as soon as I realised where I had been re-directed to, I closed down the browser. Towards the end of April, payday was looming and more importantly, so was my wedding but I knew that the only payments coming out of my bank account were one final payday loan and then i could transfer money to my soon to be wife for the household bills and then for my obligations. On my payday, CFO took £1149 out of my account (basically emptied it). I spoke to my bank (they were the ones that told me it was CFO) and told them that i did not authorise any payments to them with my new debit card. They fobbed me off and told me to speak to CFO. I rang CFO and some very smug young lady told me that what was owed, so they'd taken it. My debt with them was just under £500 but she said charges had been added to the account and there was nothing I could do. I asked her how they had got my card details and her response was 'it doesn't matter does it?' I then went to my bank a few more times and was told there was nothing at all they could do.
Move forward to September (and yes, I did get married. My now wife is amazing and was very forgiving?!) and it still bothered me that my bank could allow this so I looked online (can't remember where) and found that my bank shouldn't have allowed the payments to happen. I contacted HSBC and was told that someone would phone me back the next day, I missed the call and thought that I would phone back the next day. I checked my bank account that afternoon and found that HSBC had refunded the payments, I sat there in shock and for the next couple of weeks, tried to work out whether to draw a line under the whole episode or seek compensation for the distress caused by HSBC back in April as they were very quick to authorise a refund when I threatened them with the Financial Ombudsmen. Then on Friday, they had reversed the payment again meaning that I am now nearly £1000 over my overdraft as I had used the money to pay off a few debts. I have now raised a complaint with HSBC which they say can take up to eight weeks to investigate!! They are also saying that as we have now gone over the 120 days limit for chargeback problems, I don't stand a chance of getting anything back. A few things don't add up to me and they are as follows;
1. I never gave CFO my new card details so they must have obtained them fraudulently so the payments were taken illegally?
2. If there was no chance of HSBC being able to get the chargeback (over 120 days), why credit the payments back?
3. The FSA state on their website that as long as you raise any issue with a payment from your account within 13 months, the bank have to act, where is their 120 days coming from?
Every time I speak to HSBC on the phone, their reasons change, they can't seem to give me a quantifiable reason for anything!!
Any help would be greatly appreciated....
