My payment method is 'not valid in this store' when I've been using it for nearly a year now? I'm in the uk.

Today I was asked to sign in and check billin info when I tried to purchase an app, I entered my security code and it's now saying my payment method is not valid in this store! I've used the same payment method for about a year and have always used the uk store so I'm rather confused. All help is appreciated!

I don't know if this will work but go through the same procedure in the app store. You can access your ID at the bottom of the screen in the left hand corner of the featured tab. See if the correct region shows in there as well.
You can also check in the iTune app as well. You are using the correct Apple ID aren't you?
I have read that the iTunes stores can be very fussy about correct spelling of Street vs St., No. vs # - things like that. The billing address must match exactly the way that your credit card statement reads.
You can try signing out of your account in Settings>Store>Apple ID - tap sign out. Restart the iPad and then sign in again. See if that resets this whole mess for you.
Restart the iPad by holding down on the sleep button until the red slider appears and then slide to shut off. To power up hold the sleep button until the Apple logo appears and let go of the button.

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