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Darkman

So What Happens When You Prevent A Payment?

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I had a little trouble today and as a result have needed to stop an online payment going through by any means necessary (don't ask, nothing illegal).

At first I couldn't think of a way, since my bank told me they can't stop payments for me (!).

But then I had the idea of transferring funds out of my account into a savings account. I couldn't get the entire amount out, but certainly enough for the payment to not be fully funded. I took the precaution of reducing my overdraft radically too. So the money won't come from there either.

So what happens when the payment tries to clear now?

There are insufficient funds in the account, so will the whole payment fail? I assume it won't empty the account resulting in some bizarre "half payment" situation?!

Will my bank question my actions, or will the company simply be stuck?

RSVP :)

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How can that work. If the money isn't in the account, surely the payment fails?

It's called an overdraft. Authorised or not, you now have one.

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I don't mind a bounced cheque fee, but an unauthorised overdraft wouldn't be good at all.

This is actually simply to prevent a duplicate payment btw. I'd rather stop the payment than beg the company for my money back and wait for them to get in gear....

Am I an impatient fool? :ph34r:

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Did you try and stop it with your bank? Presumably it's a BACS, which I think can be stopped up to a given point. Either way, I woulnt worry too much, most reputable companies will return funds without too much drama.

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I don't mind a bounced cheque fee, but an unauthorised overdraft wouldn't be good at all.

This is actually simply to prevent a duplicate payment btw. I'd rather stop the payment than beg the company for my money back and wait for them to get in gear....

Am I an impatient fool? :ph34r:

I'm not sure you can get a "bounced cheque fee" for an on-line payment. I'd suggest you check the Terms of Contract for your account.

If the duplicate payment is your fault, you can't change your mind and expect the bank to sort it out for you (sorry). If you don't need the goods, you may be able to return them, subject to a restocking fee (assuming the goods are not perishable etc).

If the duplicate payment is the bank's fault, they would be obliged to rectify the mistake.

Ditto the online payee.

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It was an online payment with a debit card. I called my bank and was told they couldn't stop it.

Having done a little research, I can see that my bank will gladly pay the amount and then hit me with some penalties. So bearing this in mind, I've refunded the account.

I'll just have to chase the company up after adding the task to my growing to do list :rolleyes:

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It was an online payment with a debit card. I called my bank and was told they couldn't stop it.

Having done a little research, I can see that my bank will gladly pay the amount and then hit me with some penalties. So bearing this in mind, I've refunded the account.

I'll just have to chase the company up after adding the task to my growing to do list :rolleyes:

Tell your card issuer the company you've paid have taken a duplicate payment without your permission. The company's merchant services provider should then launch a chargeback investigation.

If the company knows they owe you they may just not respond to the investigation and your funds will be recredited. Provided the transaction was not PIN verified and they only have at best the CVV digits then they probably won't be able to successfully respond to the chargeback anyway.

The company won't be pleased though as there will be a fee levied by their merchant services provider for the chargeback so would be best to politely ask for a refund and if not forthcoming go down the chargeback route.

Incidentally, authorisation codes are almost without exception provided real time now so if the issuing bank has provided an authorisation code the transaction will have to be honoured so it's not possible to then debit funds and cause the transaction to be declined it would just go into unauthorised overdraft as has been suggested.

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I'm not sure you can get a "bounced cheque fee" for an on-line payment. I'd suggest you check the Terms of Contract for your account.

If the duplicate payment is your fault, you can't change your mind and expect the bank to sort it out for you (sorry). If you don't need the goods, you may be able to return them, subject to a restocking fee (assuming the goods are not perishable etc).

If the duplicate payment is the bank's fault, they would be obliged to rectify the mistake.

Ditto the online payee.

Assuming it's not B2B you can always return goods as a statutory right under distance selling regs. The company is not obliged to fund the carriage cost of return but do have to refund everything including the outgoing carriage - which a surprising amount of well known companies still try to dupe customers into believing they're not entitled to outgoing carriage.

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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