When you give your card details for things like magazine subscriptions, online streaming services, payday loans and insurance renewals you’re agreeing a future-dated card payment.
This sort of payment lets you authorise a retailer to take future payment(s) from your account using your card number. It’s sometimes referred to as a ‘recurring transaction’ or ‘continuous payment authority’.
How they work
You can set them up online, in person or by phone by giving your card details. Payment amounts and dates can be variable.
Cancelling a future-dated card payment
We can stop payments leaving your account, however you may still have a payment arrangement with the retailer which you'll need to cancel with them. If you don’t cancel your arrangement with the retailer as well, they may be able to take payment using a different company name.
To stop your payment you'll need to contact us and we'll need 24 hours notice. We’ll stop payments to the retailer name that you give us, so if you use any of their other services or have an outstanding balance you’ll need to contact them to agree an alternative way to pay.
If you’ve asked us to stop this type of payment but change your mind, or payments are still being taken, you’ll need to contact us