MY IQ* — MyIQ Bank Charge Explained

MY IQ* on your bank statement is a transaction descriptor for MyIQ, a education company. MyIQ (myiq.com) is an online IQ testing service that advertises a low-cost or free trial, then enrolls users in a recurring weekly or monthly subscription. Many users report unexpected ongoing charges after completing the initial test.

What Is the MY IQ* Charge?

MY IQ* is a transaction descriptor for MyIQ, a education company.

MyIQ (myiq.com) is an online IQ testing service that advertises a low-cost or free trial, then enrolls users in a recurring weekly or monthly subscription. Many users report unexpected ongoing charges after completing the initial test. Monthly fees typically range from $19.90 to $29.99. To cancel, visit myiq.com or contact your bank to block future charges.

This code appears on your bank statement because banks display a short payment reference — set by the merchant's payment processor — rather than the company's full trading name. The code MY IQ* is the official identifier that MyIQ registered with Visa or Mastercard.

Is the MY IQ* Charge Legitimate?

MyIQ has received mixed reviews and reports of unexpected charges. If you do not recognise this charge, we recommend contacting your bank immediately to dispute it and request a chargeback. You do not need to contact the merchant first.

How Do I Cancel or Dispute a MY IQ* Charge?

  1. Identify the charge: Confirm the charge is from MyIQ by checking your email for a receipt or logging into your account on their website.
  2. Cancel your subscription: If you no longer want the service, log in to MyIQ and cancel your subscription through account settings before the next billing date.
  3. Contact the merchant: If you do not recognise the charge, contact MyIQ customer support and ask for an explanation and refund.
  4. Dispute with your bank: If the merchant does not resolve the issue, call the number on the back of your card and ask to raise a chargeback on the MY IQ* transaction. Provide the transaction date and amount.
  5. Section 75 rights: If you paid by credit card and the amount was over £100, you may have additional protection under Section 75 of the Consumer Credit Act 1974.

What Other Names Does MyIQ Use on Bank Statements?

MyIQ may also appear on your statement as:

Frequently Asked Questions About MY IQ*

What is MY IQ* on my bank statement?

MY IQ* is a bank statement transaction code for MyIQ, a education company. MyIQ (myiq.com) is an online IQ testing service that advertises a low-cost or free trial, then enrolls users in a recurring weekly or monthly subscription. Many users report unexpected ongoing charges after completing the initial test. Monthly fees typically range from $19.90 to $29.99. To cancel, visit myiq.com or contact your bank to block future charges. This descriptor appears because banks display a shortened payment code instead of the full company name.

Is MY IQ* a scam?

MyIQ has received mixed reviews and reports of unexpected charges. If you do not recognise this charge, we recommend contacting your bank immediately to dispute it and request a chargeback. You do not need to contact the merchant first.

Why is MY IQ* on my bank statement?

MY IQ* appears on your statement because MyIQ processed a payment through their card payment provider. The code is set by their payment processor and is the official descriptor registered with Visa or Mastercard. Common reasons include a subscription renewal, a one-off purchase, or a trial period that has converted to a paid plan.

How do I cancel MY IQ*?

To stop MY IQ* charges from appearing on your statement, you need to cancel your MyIQ subscription or account. Log in to the MyIQ website, go to your account settings, and cancel your subscription. If you cannot find the cancellation option or do not recognise the charge, contact your bank to dispute it and block future payments.

How do I get a refund for a MY IQ* charge?

If you believe you have been charged incorrectly by MyIQ, first contact their customer support to request a refund. If they are unresponsive or unhelpful, contact your bank and ask to raise a chargeback. You typically have up to 120 days from the transaction date to raise a chargeback claim. For credit card purchases over £100, you may also be protected under Section 75 of the Consumer Credit Act.

For more information about MyIQ and all its known transaction codes, visit the MyIQ merchant page.