Suspicious Withdrawal/Payment from Bank A/C

I've just logged in and checked my business bank a/c and there's a withdrawal for €10.83 from yesterday from a company called TWG Services Ltd. The withdrawal is labelled "Initial Payment".

I've done a quick Google and they seem to be some kind of UK Insurance company. I don't remember ever dealing with a co. of this name, or any company in the UK for that matter, and certainly not within the last few days or weeks.

Has anyone heard of this crowd before? It looks suspicious. I will of course be ringing my bank first thing in the morning. Just thought if it is a scam someone may have some info they can share.

Check it out with your bank tomorrow. It's amazing the number of D/D's that have a parent company that doesn't ring a bell on first sight.
If it's not correct it's just as well to nip it in the bud.

Went in and spoke to the bank today. They couldn't give me anymore info than I already found out myself, and they didn't seem too concerned either!

ButtermilkJa said:

Went in and spoke to the bank today. They couldn't give me anymore info than I already found out myself, and they didn't seem too concerned either!

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I think you can ask the bank to refund you that amount as you didn't authorize it. If you did authorize it then it up to them to provide you with the information to prove it.

Buttermilk, the least they can do is send off an enquiry to clarify it for you.
Did they say they would do this ?

TWG services seem to be used by electrical retailers for extended warranty insurance. Have you taken out a warranty on anything recently?

That's what it seems to me alright, but I never take out warranties on anything electrical, or otherwise, that I buy.

The bank just told me I could ring someone in another branch and they could probably tell me more if I wanted. They weren't too concerned as they said that any DD would have to be checked for my signature so as far as they were concerned it was all ok. They did give me a print out of the full name and address of the company and the date it was set-up and this doesn't help me at all, just makes me more suspicious!

I don't want to cancel it and ask for a refund just yet in case it is fine. I'll have to ring the other branch first...

Presumably, the branch you were told to ring has a copy of the DD mandate, and will be able to give you more details.

Well, turns out I did sign up for it after all. It was part of a vehicle finance lease deal I did in June ('GAP Protection' )... only showing up now for some reason?