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Have you really cancelled that Spotify card payment?

Have you REALLY cancelled that subscription? Customers warned to check that old payments aren’t still making a dent in their bank account

Shoppers are being warned to check that payments for subscriptions they thought were cancelled are still not making a dent in their bank account. 

An increasing number of people feeling the squeeze are cancelling so-called continuous payment authorities to pay for subscriptions. These are offered by outfits such as Netflix, Spotify and Amazon Prime, the latter of which is raising its yearly fee from £79 to £95 in 11 days’ time. 

Costly: An increasing number of people feeling the squeeze are cancelling so-called continuous payment authorities to pay for subscriptions

Such payments are popular because they are easy to set up. Yet, unlike with a direct debit or standing order, the payments are not clearly marked on bank statements so are easy to miss and for get. Firms continue taking money until an authority is cancelled. 

On occasion, payments can also still be taken from a bank account even when card details have changed – perhaps replaced because the card is out of date, lost or stolen – and subscribers thought they had stopped. This is because a provider can ask for the updated details from your bank. Cancelling a continuous payment authority can be a trial – often requiring subscribers to jump hurdles with the supplier. 

You can cancel a continuous payment authority by contacting your bank and ordering it to stop the payments – but you should also inform the service provider at the same time. Remember, when cancelling you are still liable for future money owed if paying as part of an agreed contract. 

James Daley, founder of consumer website Fairer Finance, says: ‘It is all too easy to fall into a subscription trap with a continuous payment authority – paying for a service no longer used or one you mistakenly thought was cancelled. So carefully study all your bank statements.’

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Read more at DailyMail.co.uk