Need advice about laws of banking

hi guys

just wanted to ask a question. If anyone works on the banking team please kindly advice.

how does a bank recieve request cancellation of a direct debit and if the bank does receive this request from the company, in what format do they receive.. ie, letter, email, how?

and also if a direct debit is cancelled after the company requests this, does the bank keep proof of this?

basically I got charged from a company that I am in finance with and apparently when one of the agents came to my house, I was told that the payments stopped because the bank had cancE:(lled the direct debits so when I went to enquire about this with the bank, the complaints department person insisted that the company had requested cancellation the direct debit but do not have proof but when I rang the company they confirmed that they DID NOT request for a cancellation that the bank notified them of the cancellation but do not have proof...

HELP ME PLEASE... I END UP PAYING AROUND £300TO CLEAR THE DEBT

THANK

Was there an instance where the DD could not be paid due to insufficient funds?

That can cause cancellation of the DD.

The bank isn't Santander, is it?

Their systems are known for cancelling DDs without authorisation.

Was there an instance where the DD could not be paid due to insufficient funds?

That can cause cancellation of the DD.

 

The bank isn't Santander, is it?

Their systems are known for cancelling DDs without authorisation.

Hi

There was funds available but I had other bills going out on the same day so when I got a text messge from NATWEST Bank stating that I was over my limit, I rang on that day and told them if they could recall that payment and I would make a credit card payment to the other company and I also checked that the direct debit was cancelled and the advisor said it was not cancelled... 4 weeks later today I got the agent from the company in question in my house telling me that my bank had cancelled the direct debit. The company in question also confirmed that I made a card payment on the day that I recalled the payment but when I rang the bank again they insisted that the company in question cancelled.Both companies are pointing fingers at each other.. but don't have proof

Direct debits can be cancelled by the payer, payee or the bank. Banks can stop paying DD for any reason although typically insufficient funds. They must tell you in writing within a reasonable time if they are doing this.

A payee can tell the bank to stop sending the funds, and doesnt have to tell you. Likewise the payer can also stop the DD.

If the bank insists it was the payee that stopped it then you should be able to ask for proof of this. The bank has a duty to record such instructions as this.

It is possible that the finance company did not cancel the DD, but their bank did, based on a failed collection.

Don't forget that there are two banks involved and you need to be clear who is being referred to when you or they say "the bank".

"Direct debits can be cancelled by the payer, payee or the bank. Banks can stop paying DD for any reason although typically insufficient funds. They must tell you in writing within a reasonable time if they are doing this.

A payee can tell the bank to stop sending the funds, and doesnt have to tell you. Likewise the payer can also stop the DD.

If the bank insists it was the payee that stopped it then you should be able to ask for proof of this. The bank has a duty to record such instructions as this."

I have spoken to the bank to provide me proof that if the company did request a cancellation of my direct debit, and the bank said they don't have proof because it is done "internally".. then I quested well I need proof that the company did indeed ask for a cancelltion so that I can refer back to the company in question. Also why would the company want to cancel as my contract does not end till December 2017 unless they became generous and did not want any more money!! I was not informed of the cancellation by either the bank or the company.

---------- Post added 03-05-2017 at 23:51 ----------

"It is possible that the finance company did not cancel the DD, but their bank did, based on a failed collection.

Don't forget that there are two banks involved and you need to be clear who is being referred to when you or they say "the bank". "

I spoke to the Finance company and they said that the bank had sent an "notification received from paying bank direct debit automatically cancelled". I asked for proof of evidence from the finance company so that I can submit to the bank and have been told to call back tomorrow morning after 9 am as I only spoke to the company around 6pm and their finance department had called by 5.. still referring this information back to NatWest, NatWest was adamant that the company cancelled but could not provide proof however the person who was dealing with this complaint said that he would "happily write a note on a NatWest letter head to confirm that the company did indeed request this cancellation" and I said well its no point writing this if you don't have the proof... he said that's all he could do.. in the end I payed out £300 to the company but I'm not happy with natwest

Hi

 

There was funds available but I had other bills going out on the same day so when I got a text messge from NATWEST Bank stating that I was over my limit, I rang on that day and told them if they could recall that payment and I would make a credit card payment to the other company and I also checked that the direct debit was cancelled and the advisor said it was not cancelled... 4 weeks later today I got the agent from the company in question in my house telling me that my bank had cancelled the direct debit. The company in question also confirmed that I made a card payment on the day that I recalled the payment but when I rang the bank again they insisted that the company in question cancelled.Both companies are pointing fingers at each other.. but don't have proof

Good grief are creditors still allowed to come to your house, over there?

basically, I am paying for a product that I got but in weekly instalments. The agent who came over today used to collect the money by coming to my house a while back but then the company started a direct debit facility.. they are called buy as you view..

I have no had problems with them and I am due to finish paying them in December and the weekly installemnts are very cheap and affordable..

when the dd started, the agent stopped coming until today