Hi - new here so sorry if I’m asking an obvious question!
My DD was due to be taken on the 7/01 and I cancelled the DD on the eve of the 6th and the money immediately disappeared from my account but hasn’t been paid to the company it was for ? How do I get this money back to my account x thank you
You cancelled it too late. It’s not instant, they’ll still get the money.
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In addition, it’s always advised to cancel direct debits with the company involved to ensure you’re up to date with all payments, not in a contract etc. Otherwise, you’re opening yourself up to a host of other issues.
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If you have a legitimate reason for cancelling the direct debit, and it’s not for a subscription or similar, you can dispute the payment & ask Monzo to claw it back from the recipient under the Direct Debit Guarantee.
One of the things often overlooked here is the fact that companies can in effect ask for the money a week in advance for example.
I know how frustrating this is and it also happened to me (not with Monzo with another bank). As others have said always make sure you tell the company as well (I ended up with a missed payment on my credit file which I had to dispute)
Hey - the problem is that the company were not paid the money but at the point of my cancellation of the DD Monzo took the money from my balance and I it’s not been credited back to my account? So the company were not paid - I’ve confirmed that and the money is not in my account
Monzo will need to look into this for you. I believe they can give you a transaction ID of sorts that proves the money was sent, which you can give to the company as proof.
Either that, or they’re stringing you along because you were trying to avoid making the payment. 