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.
Your bank can definitely stop a pending charge. they’ll need to ask Monzo if they can do that and hopefully get lucky with the agent who gets the request.
Not all merchants have a voiding process though. Instead some will still take it, and then later process a refund.
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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.
When Amazon did it for prime I either had to wait for the payment to go through, at which point they would be able to refund it either with an Amazon gift card instantly, or back to my card after about a week. Or I should ask my bank to void the payment (Barclays in this case), which I did, and they did. No proof was required, just an explanation.