Now we have your payment.

  spuds 13:03 11 Jul 2004

Just a matter of curiosity really, which could perhaps throw some interesting facts to light on other peoples experiences.

Recently I have noticed how many companies have my credit card/debit card details on file, and have used these details to take payment, without perhaps my long term memory knowledge.Incidents where you do on-line purchasing,and at the checkout stage all your previous payment methods are displayed, and the you are requested if you want to use a previous card payment method.Or perhaps your magazine subscription is due, and you have forgotten that the previous 12 months have passed so quickly, until you receive your card statement, and notice a payment as been taken for the next 12 months.That sort of thing.

One company that I deal with on a monthly basis, have now stopped holding customers credit card/debit card details due to the increasing risks attached to holding this information.That company now prefare to take details on each and every purchase, so safeguarding themselves as well as their customers.

I am not talking about that regular monthly direct debit or standing order payment that you have set-up, but that sudden 'shock'when you didn't realise that someone somwhere was perhaps going to use previous 'forgotten' information, so as to obtain future payments.

  Forum Editor 13:43 11 Jul 2004

Many companies now operate this 'rolling mandate' system, whereby they take a repeat payment, sometimes a whole year after you originally provide the direct debit mandate.

The mandate is just that - a permission for a third party to dip into your bank account whenever they like, and provided the mandate is current (most of them are) your bank will pay without any reference to you. In the main it's a safe system - you wouldn't provide a mandate in the first place if you didn't trust the other party ................would you?

Having said that, with your hand on your heart could you recite the details of every direct debit you have on your bank account? I don't think I could.

  spuds 18:14 11 Jul 2004

FE..I was thinking more in terms of the check-out incident, than the rolling mandate procedures.

But then again, I subscribe to many magazines on a 'trial' basis, and I forget to cancel after the first year :o)

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