Get Your Money BACK

<p>This is a ********** company that has been allowed to opperate for long without any action taken. You need to report this asap to the police so that something can be done. Here are the proceedures you need to take in order to be successful and get your money back:</p> <p>Procedure</p> <p><br />Your rights</p> <p>Volker says a customer has an absolute right to demand the money back unless the bank can produce a valid mandate.</p> <p>Dispute within 40 days:</p> <p>If you report the dispute within 40 days of the debit order going off, the bank must refund you immediately. The bank will then send the dispute to the sponsoring bank (the bank the company banks with).</p> <p>If the sponsoring bank can provide the valid mandate, they will reinstate the debit order. If not, the sponsoring bank has to repay your bank.</p> <p>After 40 days:</p> <p>If you dispute the debit order after 40 days, the bank has 30 days to respond. If they do not responded by then, all debit order deductions must be returned to the account holder.</p> <p>If the company no longer exists, the sponsoring bank will have to carry the financial loss.</p> <p>Preventing future debits:</p> <p>This becomes slightly problematic for the bank. If a company does not have a valid mandate, the bank would stop all future debit orders on instruction from their customer. This is called a stop payment – which is not to be confused with a stop order.</p> <p>The problem is that ********** can be very resourceful and exploit weaknesses in systems. Changing the details on debit orders, such as the amount, prevents the system from picking it up and the debit order might go through anyway. But the bank would have to refund it immediately.</p> <p>On cancellation:</p> <p>If you signed a debit order then cancelled it, you need to prove you have cancelled it. It becomes a legal dispute between you and the company – not the bank.</p> <p>Absa says that according to the current EFT payment instructions and Naedo payment instructions clearing rules, clients can only dispute debit orders “at the branch of the homing participant” (the cardholder’s bank on which the debit was collected).</p> <p>The customer cannot reverse the debit order online or telephonically, they have to be present in the branch to complete and sign a dispute form.</p> <p>What you can do</p> <p>While banks are responsible for ensuring your money is safe, we need to be more proactive to assist them in flushing out the *********:</p> <p>- Check your bank statement every month for unauthorised debit orders.</p> <p>- Sign up for your bank’s SMS notification service so you are immediately informed of any unauthorised debit order.</p> <p>- If a ********** debit order has gone through, notify your bank immediately as well as Pasa ********** <p>- Take the time to report them to the police so Pasa can take legal action over and above removing them from the system. Your bank and/or Pasa can provide you with a standardised affidavit form, which has been approved by the SA Police Service for obtaining a case number.</p> <p>- As a consumer, you can insist the bank confirm all debit orders with you before they are processed.</p> <p>- Where possible, rather use a stop order to make payments – this puts you in control. You can set this up through internet banking.</p> <p>- Unresolved disputes with your bank can be referred to the Banking Ombudsman.</p> <p>Good luck.</p>