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Hello, this is Jim and I am a dual-qualified lawyer (UK & Republic of Ireland) happy to help you today.
Where is the company based? Under EU consumer law, you have a 14 day cooling-off period (EU consumer law still applies in the UK during the transition period).
OK, you should tell them you want to cancel - fax is their option but as long as you give "notice", usually in writing, or email, or letter, then you are fine.
Threaten to report them to Trading Standards (tel: 03454 040506) unless they reimburse you in full. I will find their address now.
They are based in Luxembourg from looking at their terms. If you use the attached template and send it to them - by email and also by post to : "Singles 50", be2 S.à.r.l. of13 rue du Commerce, L-1351 Luxembourg, Luxembourg
So if you also ask your bank whether a charge-back is possible - some banks offer this. If not then you would need to sue the company - you cannot use the European Small Claims procedure any more so you'd need an N1 claim form and N510 service out of UK jurisdiction form (I have copies of both) - perhaps come back here after 14 days assuming you have not been reimbursed - you should include your bank details in the letter to them (IBAN, BIC code, name of bank, name of account) to allow them to pay you within 14 days.
I hope this helps? If you would kindly leave me a 5 star rating (at the top of your screen), any follow up questions are welcomed and I will be credited for helping you today.
Thank you, have a good day.