nlgbbbblth
Registered User
- Messages
- 144
I've worked in financial services for over 11 years and agree with Anne Marie.
Direct debits are a timebomb. Only sign up for one if there's a gun to your head.
The indemnity scheme is all very well but you will still be inconvenienced while you wait for the funds to be credited back to your account.
...I then called them and they informed me that they CANNOT STOP A DIRECT DEBIT, but will initiate a refund immediately if the money is taken.
I've said it before and I'll say it again. One real problem with the Direct Debit Scheme is that BANKS or individuals in banks don't know what the rules are! [see ]
The Rules state:
Obligations of the Paying Bank
The Paying Bank is the account-holding banker of the Payer, and has a key role in ensuring the trust of Payers in the Direct Debit Scheme (including Direct Debit Plus). The Paying Bank must exercise the normal bankers duty of care on behalf of the Payer. Without prejudice to the other provisions of these Rules the following checklist summarises the principal obligations assumed or to be assumed by a Paying Bank in connection with the Scheme.
5 Procedure for cancellation or amendment of DDI & for failure to act on cancellation or amendment of DDI.
Accepts instructions for cancellation or amendment of DDI’s from Payers. In the event of receiving such instructions, the Paying Bank must promptly notify the Originator in writing substantially in accordance with the form set out in Appendix 8.
(DDI is a Direct Debit Instruction)
So the Rules say that if you want to cancel a direct debit instruction you must instruct your bank that you wish to cancel it. Your bank must then promptly contact the originator.
With most compliant and customer focussed originators, if you ask them to cancel the DDI, it will happen but if you want to go by the rules then you should only have to contact your bank (the Paying Bank). And if your bank tell you different then ask them if they have ever read the Rules? Maybe supply them with a copy from the link above!!!!
Dem is de rules!!!
I had a recent issue with a well known electricity provider. I cancelled my standing order via my internet banking but the provider was able to reschedule the S/O by using a different name.
That link doesn't seem to be working....
... set any legally binding rules...
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