Money taken from your bank account?
I've received a number of emails from worried customers in the past month who've contacted me about money being taken from their bank account, in each case for around £19.65.
To confirm, Choose Wisely is completely 100% free and we don't charge any fees. We're not in any way related or affiliated with Budget Wise. After a few conversations with the customers who contacted me and a bit of Googling, I found that the root of the issue is a brand called Budget Wise. Budget Wise are a trading name belonging to Consumer Excel Limited (registered company number 8128867) and provide a budgeting app which they charge for on a monthly basis. From the feedback I've received Budget Wise doesn't lend money and they are not arranging a loan for anyone.
What if you've been charged a fee by Budget Wise
Budget Wise have set up a page for customers who want a refund, it will instruct you how to cancel your account. You can also contact Budget Wise by phone on 0345 565 0945 or [email protected]. It's also worth contacting your bank to make sure that they cancel any direct debits or continuous payment authorities that might be on your card.
My top tips if you're applying for a loan
- Before you even think of applying, read this advice from The Money Advice Service
- Use a reputable price comparison website to find the best lender - Money Saving Expert or (of course) Choose Wisely
- Don't apply through a broker or credit finding service
- Always, always read the small print