I use Zettle to accept credit and debit card payments for my small business. I sell Italian clothing for women in a Somerset market.
My account was hacked in April, but I didn’t notice it until July when my business accounts were low. I informed Zettle, providing a crime number. Since then, I have experienced rebuffs and delays.
I lost £ 5,482 – a substantial amount for a small business. I was told the funds would be in my account on October 18th. Nothing happened.
LB, Clevedon, Somerset.
UnZettling: Market trader found herself £ 5,482 out of pocket after crooks hacked the iZettle device she uses to complete credit and debit card transactions
Tony Hazell replies: Zettle is a payment service that was taken over by PayPal in 2018. Your account was hacked and the money was sent to a construction company account.
When I contacted PayPal, they quickly refunded the fraudulent payments. He also provided a new free docking station and credit card machine, and gave you a £ 20 voucher.
You were very happy with it, but you told me, “My concern is that once the hacker was in my account, it was too easy to delete and change the existing bank details. “
A PayPal spokesperson said, “We never lose sight of the fact that we are responsible for looking after people’s money. We take this responsibility very seriously and use advanced fraud and fraud management tools. risks to ensure the safety of our customers. ‘
Clercical Medical will not accept my signature
Clerical Medical wrote in August to say that my Home Investor policy will expire on October 18th. I immediately returned the forms.
On October 15, I received a letter, dated October 4, indicating that the signatures did not match.
I called to ask which signature was required as the font has my maiden name as well as my first and second marriages.
I was told that the company wanted the most recent, which was the signature I sent.
I emailed a scan and then on October 18th I called again and was told the information had been added to the file. On October 25, the company said it was still not happy with my signature and wanted a copy of my passport or other ID.
I emailed a scanned copy the same day. Then I was told it could take up to 105 business days to receive my money!
HO, Shaftesbury, Dorset.
Tony Hazell replies: This policy was intended to pay off your mortgage. If this had remained your intention, you might have had to deal with three months of interest payments while the business ran.
You had long since given up relying on it to pay off your mortgage, but the £ 48,000 you expected after paying £ 98.40 a month since 1996 would still come in handy.
Lloyds Bank, which now owns Clerical Medical, says it received your forms in September. It followed the comings and goings.
Lloyds paid your money, added £ 200 compensation plus interest of £ 85.42 covering the downturn. A spokesperson said: “We appreciate that our communication should have been better.”
His son left me out after I sold him my house for a low price
I sold my £ 680,000 house to my son for £ 230,000. He said he would free up equity so I could have a peaceful retirement.
He also has a mortgage for £ 230,000 on a two-bedroom apartment valued at £ 480,000, where I live and pay rent.
I asked for money because I am now 70 years old and still working as a nurse. He now says he can’t get an equity release. What can I do?
MW, Reading, Berks.
Tony Hazell replies: Your letter is a stern warning to parents not to give up their property at the expense of their own lives. It seems to me that your son is financially overburdened and expects you to work until the age of 70 to maintain his lifestyle.
You need to have a frank conversation and take financial advice. Your last resort would be to reduce or stop paying the rent, but this would have serious consequences for your son.
Rachel McEleney, associate tax director at Deloitte, says you need to be aware of inheritance tax. “It will depend on the precise arrangements between MW and her son, and whether the rent she pays is the full market rate.
“If she sold a property worth £ 680,000 for £ 230,000, without her being legally entitled to any additional income, she gave him a gift worth £ 450,000.
“Ordinarily, this transfer could become exempt from inheritance tax after seven years, but the arrangement she made with her son regarding the occupation of the apartment could complicate that.”
Ms McEleney says the anti-avoidance provisions could create inheritance tax or income tax charges if you retained a direct or indirect benefit as a result of the donation. She adds: “These provisions generally do not apply if the market rent is paid in full.” You and your son should seek tax advice.
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