Property News · February 25, 2012

Continuous payments authority: know your rights


If you’ve authorised companies to take cash out of your bank account on a regular basis don’t believe anyone who says you can’t cancel, writes Rupert JonesBanks, financial websites and even government departments are giving consumers incorrect information about their rights when it comes to cancelling regular card payments, Guardian Money can reveal.Millions of people have set up regular automatic payments to pay for things such as breakdown cover, travel insurance, gym membership or a magazine subscription. Some will be direct debits and standing orders, but others will be “continuous payment authorities” (also called recurring payment authorities, recurring transactions or recurring payments). These are payments set up using a debit or credit card. By signing up, you authorise the company to take payments and the money is collected from your card. Continue reading…

Source : theguardian.com
Read more…Continuous payments authority: know your rights

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