Pay Day Loan Scam

A question about : Pay Day Loan Scam

Hi

This morning I decided I had an email from www.verymerryloans.co.uk inviting me to apply for a payday loan. I completed an application online and at some point received a message saying I had been accepted and seemed to then be automatically transferred to a site called www.the1loan.co.uk which seemed to have logged me in to an account and suggested that they could find me a loan - but I thought I had already been approved for a loan from merryloans.

Happened to check my Bank a few minutes later - Ј39.99 has been taken by the1loan - that is what my Bank told me when I called them. The Bank's Fraud Team suggested that I call the1loan as they might refund the Ј39.99. They seem closed today. I doubt they will refund.

The Bank say that these loan companies are clever and that they will say the Ј39.99 is an admin fee for finding me a loan!?

Now, the Bank (Nat West) has told me to call their retail debit card department in the morning (not open Sundays) and that as the debit card payment to the1loan is 'pending' I should:

1. Get the money credited back to my account as they will stop the payment going through. This should be an immediate credit back to my account, and;
2. The Bank will stop the1loan getting more money from my debit card

Anyone know if the above is correct?

Also, in case my card details have now been shared with other companies on the web am I not better off just having it cancelled and get another one?

The real issue of the above is that it left me with Ј5 in my bank until next week!

Thanks,

RD

Best answers:

• Your next move
  Quote:
• I did not see any of that. As I said I started at verymerryloans and their site said I was getting a loan. Next thing I am at 1loan - and I did not see any terms flagged up.
  The real question is will the Bank in the morning be able to reverse the payment and credit my account Bank with the Ј39.99?
  I am going to cancel the card and get a new one anyhow.
  RD
• Another person that does not bothe rto read the T&C
• Random email out of the blue turned out to be a scam?
  Whatever next?
  They don't need to be at all clever, they rely on people who aren't.
  Are you going to follow the instruction in reply #3 or not bother?
• I am sure that there are plenty of people out there that don't read terms and conditions - but in my case I did not see anything to read. I am usually very careful when accessing anything on the web - not careful enough this time as I now know!
  I have written to the1loan and in truth have written off the money. I doubt I will see a refund and I doubt my Bank will reverse the payment as it is not 'fraud' (having said that they did once reverse a direct debit payment for me on the back of one 'phone call to them)
  People who apply for paydayloans usually do so in desperation as they have no money - and need the loan now - not to be paying out money speculating that they may get a loan, and in my case, although I had Ј39.99 in the Bank, I now have nothing (well, Ј5, actually!).
  These people are unscrupulous.
  I was misled and I only logged into my Bank as I had been told on a previous site that I had been given a loan and would be paid out to my Bank account.
  the1loan may not find anyone a loan but I expect that they get thousands, unwittingly, paying Ј39.99
  I am not stupid, not unintelligent and have been using the web since 1992 - they have caught me hook, line and sinker and it was 'cleverly' done.
  Having logged in to the 1loan site the only company that they seem to be offering is Wonga - all of the other adverts presented are for bad credit cards etc. so it would appear that they don't even live up to their claims as a 'broker' and I will not be using them or any of the companies they refer to, again.
  RD
• "The first loan only took like an hour or something to get it all done. I was just shocked. WOW!"
  That is the quote on their homepage from a person in......... QLD which the abbreviation I only know is Queensland in Australia. All from a firm which operates from Essex.
  Problem is people automatically enter their card details in as they feel is the method for repayment for the loan. Mind you the name in itself is dubious.
  Banks lend money, not websites. If I was to consider a payday loan for whatever reason I would at least stick to the main players - ie Wonga and Quickquid. Who knows where your card details will end up when using a third party site. If Wonga or Quickquid turn you down then that's the sign to say don't even attempt anymore.
• I had the EXACT same company try to take Ј39.99. I put my bank details in (as mentioned above) with the belief that that's how I would repay. But the bank said they TRIED to take Ј39.99, but it failed, not sure why though. There has not been any attempts since I got a new card, same SORT and ACC number, just expirey and long card..
• lol just lol, I get these silly emails in my spam filter all day long, I assume yours probably was to but you decided you wanted to get robbed? in 2001 people may not of been aware of all these scams, but seriously, 2014 and people are still falling for it?
  my names mr petel from nigera, please send me Ј100 and ill send you Ј200 back, what do you say rorysdad, do we have a deal
• Hi Rorysdad
  Ok so last week this happen to my mum they actually toke two payments out using the name 1lone and ladygaga both for Ј39. ladygaga and 1lone is the same company. Now the way my mum got the bank to help in stopping this is she called police and made a complaint as this is a crime as they are miss leading people on their site which I will not get into right now. She got a crime reference number and gave to the bank which then the bank issues a hold on these two payments coming out. within a few days she got both payments back.
  
• To be fair to the OP, having had a quick look at the site, it says in the FAQs under how much does it cost,
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