I ended my contract with Vodafone last month
and I don’t owe them anything (I’ve had my final bill + refund). Is it safe to cancel the DD in the Monzo app?
I’ve heard of horror stories on the Vodafone forum of people getting reported to the credit reference agencies up to 6 months after their contract ended.
3 only closed my account a few months after the final bill, but as the horror stories that come up I don’t cancel the DD it’s not worth it at least until they’ve marked it shut on the CRA at least.
Interesting thread, as I have never given the CRAs a thought when cancelling my DDs with companies to ensure they don’t keep taking money from my account!
Luckily though, never been bitten by that approach . . . . . . . yet!!
You’re already protected by the direct debit guarantee so there’s little benefit to cancelling it yourself. Cancelling just increases the risk that you might miss a payment you hadn’t realised was due and you’ll get a mark on your credit record.
You shouldn’t have to wait 2 months for a refund as the direct debit guarantee says you should get an immediate refund.
When you know there will definitely be no charge. I hadn’t used a CC in ages so cancelled the DD after switching the bank account I used to pay with to Monzo.
I always cancel them instantly. I was caught out once by a power company taking a payment the day after my transfer completed. Never again. (The Direct debit guarantee covered it)
I don’t give a stuff about the CRAs, I’ve never given them a thought and it’s never mattered.