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What happens when you cancel a debit card?

If I cancel my debit card can payday loan companies still debit from my account?

  • I simply can't afford to pay them on this coming pay day and I need to stop them taking the payment.If I report my debit card lost and obtain a new one, the long number and security code will be different so will this prohibit the loan company from taking money when they attempt to use my old card details? Or will the bank still authorise the payment. I've been on a few forums and some people state that even though they cancelled their debit cars - the companies still debited from their accounts?? I don't want to have to change my bacnk account entirely but if I can't get the answer to this (or someone who's experienced this first hand) then it's likely i'll have to . Thanks, C

  • Answer:

    What a dumba///ss complaining about somebody giving you a reality check Who gives a sh//te whether "ed" is perfect or not? He aint the one with shi//teforbrains You are the sh//tefrobrain that took out a loan at 1400% Have you just the faintest idea what they will do if you default on paying. - You think 1400% is a lot? - just wait until you default As it happens it dont matter WHAT you do with the card the money will still be taken. Close the account if you want to But you just wait to find out what happens if you do, cos you wont half have a shock. I aint self righteous cos I actually dont give a sh//te what you do. but you have been warned.

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You're heading straight for trouble. Why not contact the Payday loan company and get part of the loan deferred to the following month? If you simply choose not to pay them, the interest will continue to mount - you will wreck your credit and could well be taken to court and have bailiffs appointed.

I'd ring them and let them know your situation. You could end up in court, they won't just let it go.

I have No Knickname

Reporting the card lost does not stop charged authorized BEFORE the alleged loss of the card. In the case of the payday loan, they are NOT using the card number anyway. They are charging your account directly using the information that will NOT change unless you completely close your account. Your details make it clear you ALREADY know the answer. You just don't WANT it to be true. Your additional details make it clear that Ed was ENTIRELY correct. As soon as I post this answer, I will have to read his.

STEVEN F

This is obvious blatant dishonesty and you cannot expect the loan provider to work with you as they might do if you did the normal thing and contacted them. They will simply pass your delinquent loan to a collection agency and the final stage will be a court summons.

Ed Fox

If you gave them your bank account number and routing information then they can get it from the account. IE you gave them a voided check or anything like that. And if you don't pay them, they will go after you for payment anyway. So you may as well just pay them.

Say Bye

It's a pre-authorized debit. Your account will still be charged

Go with the flow

Yes they can. u have to close your account.

ang.

yep they can

Mercy

If you cancel the direct debit with your bank the company shouldn't be able to take the money from your bank. I have done it before when I couldn't afford my car and they simply sent me a letter telling me about the outstanding payment. If you are struggling with your repayments you can always call the loan company and they will be able to put you on a payment plan although I think this does effect your credit scoring. Hope you get it sorted.

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