Co Op Cash Minder account Overdrawn???

[Ons]

Hello, I need some help. I got a co-op cash minder account, my wages do not go into this account. Only my tax credits. I logged in on monday to transfer my tax credits to my barclays account, and was left with 0.03p in my account which was showing online as 0.03p.

 

I log into my co op today and now I am £86.97 DR. Like wtf..

 

Wonga has taken £87 from my account. Now a cash account has no OD, and I only had 3p in my account. So how has co op allowed someone to take £87 from my account?

 

I am seriously angry, I don't wanna phone them cause I will swear at them. What should I do and where do I stand?

 

Thanks.

[citizenB]

Have you given permission for Wonga to take money from the account ? Or have they taken it on an incorrect date.

 

If not, then you must ask the Co-op for the money back.

[Ons]

Have you given permission for Wonga to take money from the account ? Or have they taken it on an incorrect date.

 

If not, then you must ask the Co-op for the money back.

 

Well wonga was meant to take it on the 1st june. So it was expected. But I had no money in my account, so how can co-op allow me to go OD?

[citizenB]

Well wonga was meant to take it on the 1st june. So it was expected. But I had no money in my account, so how can co-op allow me to go OD?

 

Ah, well TBH, I don't see how they can do this.. but then banks are a law unto themselves. I am not sure what you should be doing, but I kind of think that you are most likely going to be slapped with some unauthorised O/D charges as well.

[nonymouse]

Ah, well TBH, I don't see how they can do this.. but then banks are a law unto themselves. I am not sure what you should be doing, but I kind of think that you are most likely going to be slapped with some unauthorised O/D charges as well.

 

In my experience (admittedly a few years ago) they will write to you and close your account due to 'poor management'. Get a NatWest basic account if you can - much better.

[Ons]

In my experience (admittedly a few years ago) they will write to you and close your account due to 'poor management'. Get a NatWest basic account if you can - much better.

 

I got a barclays basic account. It's good and live statements online.

 

I thought that was if you UDR 3 times? I wouldn't say my account was that bad. By law can I be forced to pay this? I mean, I don't have the money to pay it before end of month anyway but I don't see why they have paid someone when I have no money in my account. What's the point in the account then if this happens? I thought the cash account was to prevent this from happening?

[Desperate Daniella]

Is this a direct debit?

[Ons]

Is this a direct debit?

 

Nope. Nothing, no standing order. Nothing.

[Desperate Daniella]

That's a pity because you could have cancelled it, and they would have got the money back for you.

 

I think the only thing you can do is ask them why they allowed the money to go out? I agree with you; if there is no overdraft facility, how can you go overdrawn?

[Ons]

That's a pity because you could have cancelled it, and they would have got the money back for you.

 

I think the only thing you can do is ask them why they allowed the money to go out? I agree with you; if there is no overdraft facility, how can you go overdrawn?

 

I am stuck. I phoned them this morning and they have said to me the payment went through automatically so they couldn't stop it. I told her, I had no money in the account, so how have they allowed it to go through, again she fobed me off with that there is nothing they can do and I have to put my account up to date in 7 days, no way I am doing that.

 

The concept of a cash minder account is for me to never go overdrawn and to prevent them from that happening. Should I make a complaint in writing? Contact FSA?

[Desperate Daniella]

They can stop it on the day if you phone immediately and say it wasn't authorised, but I don't think they can after that.

 

I would make a complaint in writing and I'd also contact FSA.

 

Part of the T&Cs with a basic account is that there is no overdraft facility. I don't think they can have it both ways. I would actually call the Financial Ombudsman and see what they think too.

 

Did you give Wonga a continuous payment authority when you took out the loan? I think banks say they have to pay those. If you did you need to cancel it immediately.

[Ons]

They can stop it on the day if you phone immediately and say it wasn't authorised, but I don't think they can after that.

 

I would make a complaint in writing and I'd also contact FSA.

 

Part of the T&Cs with a basic account is that there is no overdraft facility. I don't think they can have it both ways. I would actually call the Financial Ombudsman and see what they think too.

 

Did you give Wonga a continuous payment authority when you took out the loan? I think banks say they have to pay those. If you did you need to cancel it immediately.

 

Well wonga has not taken money from my account in over a year and I changed my debit card details, although they got my new one, still CPA should not be allowed if you have no funds in your account. It's silly. I think I will close my account with co-op, if I don't then this same thing is gonna happen again next month.

[Desperate Daniella]

Or you could just tell the Co-op in writing that the CPA has been cancelled. Then Wonga will be out of luck.

 

Clearly Wonga have just claimed the payment with the new debit card details and will argue that the CPA applies to that too.