Hundreds of Payday Loan Clients Furious Because They Were Charged TWICE After a Failure


A POPULAR payday loan firm has charged hundreds of borrowers twice after a technical error.

Clients who previously applied for a loan from The Money Platform have faced an additional charge, despite repaying their loan months ago.


Customers have vented their anger online over being charged twiceCredit: Getty

Around 300 customers of the payday lender are affected and have returned to making payments in error, in some cases totaling hundreds of pounds.

Money Platform offers loans of up to £1,000 with a representative APR of 839.20%.

Those affected have complained of running out of money and the lender has agreed to make returns and pay compensation.

A spokesperson for The Money Platform said: “We were informed this morning that our payment service provider, Mangopay, reprocessed, due to a technical error, a number of payments originally made in February and March.

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“This was done in the wrong way and without our knowledge. We believe around 300 customers have been affected.

Money Platform has said that it is working with its payment service provider, Mangopay, to ensure customers receive payment as quickly as possible.

The firm said: “Mangopay has told us that they are making the refunds to customer accounts this afternoon (July 25).”

Money Platform told The Sun that it plans to compensate affected customers, but has not yet said how much it will be or how people will get the money.

One customer affected by the issue said on Trustpilot: “Like others here, I had an unauthorized payment of £362 taken from my bank account on 22nd August.

“I don’t have a current loan or settlement plan, so I was surprised to see this amount randomly charged to my debit card.”

Another previous customer said: “£139 was withdrawn from my account on Friday when the loan was repaid months ago.”

This is not the first time payday lenders have come under scrutiny. Many other companies have had to pay damages to customers in the past for technical errors, overcharges and business closures.

How to get your money back

You should be automatically reimbursed if you have been affected by the fault.

If you have not, or wish to make a complaint, you should write to The Money Platform.

You can do this by completing your online form. Be sure to use evidence to support your complaint. This could be proof that a payment made by the company meant that you did not receive an invoice and a screenshot of your bank statement would suffice.

Loan providers must have a written complaint process that tells customers how to file a complaint.

You should be able to find the information on their website, but if you can’t, ask them to send it to you.

Once you have submitted your complaint, the company must give you an answer within eight weeks.

If you do not receive a response within eight weeks or are not satisfied with the response you received, you can make your complaint to Financial Defense Service.

To get in touch, you need to fill out a form, which you can find on the FOS website or simply fill out the online complaint form.

If you prefer to speak to someone, the FOS can help you do so by calling 0800 023 4567.

Don’t run to payday loan companies if you need to borrow

If you’re struggling and need extra money, there are several cheaper and less risky ways to borrow.

And remember: only think about borrowing money if you really need it.

Cheap credit cards: First you need to think about what the card is for. If it is to buy then you need to look for a 0% purchase credit card. If you want to pay down debt, a 0% balance transfer card is best, though you’ll have to pay a fee to move your money onto the card.

Cheap Personal Loans: Personal loans are generally better for larger purchases or if you need to consolidate debt and pay it off. Use a eligibility checker like MoneySavingExpert’s to find out what loans you could be accepted for, without hurting your credit score.

credit unions – Credit unions are local organizations where members pool their savings to lend to each other. This often allows them to offer low-cost products.


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