I have just discovered that multiple sums of £98 have been taken from my bank account by direct debit to The Money Club.
The annual fee should be a single sum of £98 but in 2014 they took this eight times over, totalling £874. The bank could only go back to October 2013 but the records showed that, in all, the company has debited £1,176 in 16 months.
Because I have not got any old statements from May 2012 when this membership started I have no idea how much has been taken in all. SQ, London
I do have to ask the obvious question – how could you not have noticed such large sums vanishing? Not that your oversight excuses The Money Club which frequently appears in my inbox because of its zealous sales practices.
A spokeswoman for the company, a discount shopping club, confesses that your membership was set up incorrectly, meaning the annual fee was debited every two months. The bad news is that you are even more out of pocket than you thought –£1,573 has been taken since May 2012. The good news is that The Money Club is now refunding this amount along with £250 in compensation.
This shock will show you why you should hang on to your bank statements for at least six years.
If you need help email Anna Tims at your.problems@observer.co.uk or write to Your Problems, The Observer, Kings Place, 90 York Way, London N1 9GU. Include an address and phone number.
