Beware Direct Debits

[Canary42]

The Privatised Energy Companies will fund their shareholders' greed by robbing your account.

https://uk.yahoo.com/news/energy-firms-hoard-2bn-customers-210000080.html

[ladybirder]

Well my energy supplier keeps giving me refunds because I'm paying too much as I don't want to get into debt. And I bet I'm not the only one but they don't print that do they?

[bobbinwales]

good advice here too. But remember its winter and energy use may stay high for a couple more months so any surplus may go
https://www.moneysavingexpert.com/utilities/lower-energy-direct-debits/

[Peter Pedant]

one of the money goo-rooze warned about this the other week.
The tray good ( French see) news is that you can now cancel a DD from your bank whereas previously you had to do it from the payee point of view

real prob with sex sites I can tell you ( they wont)

My friend Madge had a credit of £850 before I cancelled her DD ( at her direction) - utility (£300 / mo )and not a sex site

[Peter Pedant]

o god dont start me on BG

[bobbinwales]

Yes lasdybirder, I got a refund when really i was happy to be in credit ready for when my 2yr fixed deal ends in spring 2023 and I'm expecting my bills to more than double.. There have been stories of higher DDs than needed though sometimes its just a missunderstanding by customers of how DDs work, seasonal patterns and upwards trends in costs

[MissTerious2]

Can someone close this thread. It was never intended to go this way.

[MissTerious2]

Oh no. I've done it again. Wrong thread!!

[ToraToraTora]

I can't see any "robbery".

[Peter Pedant]

dont agree - Br Gas wrecked my credit rating in the best parsible taste of course and the highest standard

but if you want to close it - just type 'defenestration' and hey presto ! - I think it is done on letter count and not meaning

[Zacs-Master]

A supplier has to let customers know about a payment increase before it happens under the 'direct debit guarantee'. If they don’t……complain.
You can challenge your direct debit payment if you disagree with it.
They have to justify how they calculated the new amount and tell you, in plain English, how they calculate the new charge and the meter readings they used.

[Peter Pedant]

oh no
I thought it made perfect sense ( myss X wasnt the original poster) but I just didnt agree with it

defenestration started in Prague 1618 - nope that hasnt done it

The idea of robbery is more forced loan TTT
£850 credit will last around 6 mo, and some person ( inc moi) dont want to give utlities cost free loans.

BG as thieves , yup - levied a late payment charge when it wasnt. No - " sorry sorry you are a disabled OAP" - much more - "oh you noticed: well you arent as blind as you say you are then are you?"

Thieves

[Peter Pedant]

ZM have you tried this?
I just got gobble de gook along with " and we are screwing you in the best parsible taste and you know what? ( no what I whispered) we have scored ourselves as outstandingly caring.

with a special category for disabled punters such as myself.

Oh, "the stupid old coots list" I snarled

[barry1010]

They can’t help themselves, they have to give notice of any change in direct debit. My energy supplier pays me 4% interest on credit balance so hardly ‘robbery’.

[New Judge]

This is a misleading article.

Most people who pay by direct debit pay one twelfth of their annual estimated bill each month. It is obvious, therefore, that if your contract started after the worst of the winter was over, you will build up a surplus in the warmer months. I'm currently £400-odd in credit. But we've still got the rest of the winter and Spring (when it can remain chilly) to go. My £400 will be eradicated and I'll probably be in debt by April/May. Around 16m households pay their energy bills by direct debit so that works out at an average of about £125 each that the energy companies are holding on to. So I imagine my £400 is included in the £2bn the article mentions. They are quite welcome to it because I cannot be bothered to fanny around getting it back only to have to pay it out to the same people over the next two or three months. As the saying goes - "nothing to see here".

[Old_Geezer]

It's an insane system. I have no idea why government allowed it nor why they encourage it, but I am aware that's par for the course for them. My advice is to try to have as near zero external groups access to your worldly wealth as you can get away with.

[Peter Pedant]

As the saying goes - "nothing to see here".
only if you dont have cash flows problems
otherwise
as the saying goes: monkey see monkey grab

er the monkey here is the rapacious energy company and not the punter

[ToraToraTora]

Still struggling to see how: "The Privatised Energy Companies will fund their shareholders' greed by robbing your account. " - people have a credit balance but it still belongs to the customer so I don't see how they'll give my money to the "shareholders", I've never had a penny go missing. Can you explain please canary, why you think a credit balance = dishonesty by the energy companies.

[bobbinwales]

i think he means by making interest on the surplus money in the accounts TTT

[ToraToraTora]

interest is eff all For Funks Sake!

[barry1010]

Interest pays me 4%. Every little helps