Hi I was wondering if there’s a way to cancel a pending transaction as i talked to the company and cancelled the subscription they said i need to contact my bank to cancel the transaction itself
You cannot cancel a pending transaction.
They can cancel it (not Monzo) or they can refund you.
Correct, but only in certain situations.
Proof from the merchant is generally required to say they aren’t going to collect that amount.
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Technically feasible yes, but very unlikely and the merchant just trying to fob the customer off. They should just refund.
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If you cancelled the subscription before the payment was due, and they took a payment anyway you need to raise a dispute in the monzo app.
Tap the transaction and tap get help at the bottom.
You’ll need to explain why the charge is incorrect, and give details of when you cancelled it.
This is a merchant dispute, just because they took the payment doesn’t mean the pending payment can be cancelled.
If they respond to the dispute claiming you haven’t cancelled (they usually send a lot of information supporting the claim), they generally keep the money.
Edit:
To add more, depending on merchant, they may have a cut off date for you to cancel as noted in their terms, or a minimum contractual period which means the dispute may go in their favour.