Any other cancellers having a problem getting their deposit back? I decided to cancel last week after my test drive and have called 4 times to move the deposit return on - the credit card account I used to pay the deposit no longer exists, the provider switched suppliers and closed all the accounts. Lotus say they can only refund to the account used to pay the deposit, which isn’t possible because it doesn’t exist. Thinking I may have to get my lawyers to remind them whose money it is.
I'm out - the cancellations thread
- Thread starter boozyjay
- Start date
roundincircles
Emira Fanatic
I had this problem some years back. The logjam was that the car dealer pays a commission when taking a card deposit and they want to claw that back which happens when they reverse the transaction to the card. So Lotus can't do this but it's usually a tiny transaction percentage. It may be worth a call to the card company to ask how the transaction can be reversed and Lotus Finance/CSS to ask how the problem can be solved. I would guess this is covered in their Sale Terms( but it may not be).
Thanks - that makes a lot of sense re the commission. The old card company just have a contact centre dealing with card closures, so not the most helpful people. I’ll keep plugging away at Lotus CS.
Yeah I've had this issue on going for a month.... they said
*****
I have just had a response from our accounts team.
We do not have a process in place for refunds where the customer's account has been closed.
Due to money Laundering purposes and as per FCA guidelines we need to refund the original payment card.
As this is no longer available, we are contacting our legal team for them to advise us the best way to refund you in Line with FCA regulations.
I have been promised a response and solution to this early next week.
I will email you to advise how we will be moving forward.
****
I said they need to sort this out fast because due to their own delays this will become common.
Yikes - that’s not good. Maybe I do need to fire up the lawyers. The FCA justification sounds pretty bogus - all they need to do is make sure the funds are returned to the person who paid the deposit, that’s it.
roundincircles
Emira Fanatic
According to a Lawyer friend, the money laundering procedures are very tight and penalties are real if you don't comply. Recently I sold a motorbike and wouldn't release it until funds had been cleared but the purchaser wouldn't pay until he had seen the bike so he brought cash, £13,000. Off we went to the Bank and they wouldn't accept the cash because of laundering laws.....the chap paying in had travelled 200 miles to buy my motorcycle....so off she went to the manager......we ended up showing the advert, crazy.
Lotus can get round it for sure
I suspect because they're keeping the build slot
Uk getting very tight, even bank transfers. Every time I transfer a few thousand pounds over to my UK bank account. I have to provide six months worth of bank statement.
Meanwhile, when I was in Hong Kong a few weeks ago, I sold a couple of watches for US$50,000 cash. My bank over there had no problem with me banking in the whole lot as cash.
Its important to remember its your money they are returning. Providing they can prove they are giving the money back to the person who gave them the money they have nothing else to worry about.
I would check with your previous credit card. Just for a reference as I had something similar happen (but not for my Emira deposit
) I had cancelled a credit card and then needed to receive a refund for a credit that a vendor needed to apply. The credit card company processed the credit and then sent me a check a couple weeks later but if I hadn't called them ahead of time, it probably would have been stuck in lala land. Hopefully soon you'll getI had the same quite a few years ago, but because credit card company still existed ( I had closed my account 2 years before) they sent me a cheque. All sorted by the card company who were great.I would check with your previous credit card. Just for a reference as I had something similar happen (but not for my Emira deposit
I've had similar issues in the past over a small £90 refund
I never did get it back because although the bank kept sending me statements for the closed account to show they owed me £90 I couldn't use the card number to get through to telephone banking to talk to someone as the account was closed and the number was invalid.
I gave up. Can't risk that with £2k
I spoke to Lotus CC again today - they say they have a weeks backlog of cancellations to respond to and say they will be working the weekend and promised to get to me on monday. They did find the time to send an e-mail asking me why I cancelled though, so we are clearly being "cash flow managed" to some degree. I've been trying to recover a £250 credit from this closed account and i'm already a month and lots of calls into it. I really don't want to start the process again with £5k owed to me.
This has been going on for ages for me already, I got 3k back within a few days about a month ago as it was on a card I still use but the original 2k from July 2021 is still MIA
Maybe we should ask Harry to have a word with them. He seems to be their brand ambassador.
Yikes (emphasis mine). But good for people who are still on board I guess.
A post on his Instagram and an @ to lotuscars highlighting the cancellations and lack of repayment might prompt some action
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