DD Vs. Standing Order

[allan1983]

Is it particularly difficult to change a DD to a SO with regards to utilities?

Im reading more and more cases of people having their DD upped to stupid figures, and i'd hate for it to happen to us, should we be found to owe money.

Will Scottish Power drag their heels over this?

Will we be 'punished' (i.e. lose discount entitlements etc) if we swap payment method here?

[ozzywizard]

You might lose a DD discount. I know with Pgen it is 3 per cent. But it is much better to manage your own finances and accounts than let a company do it for you. DD gives them full auth over your bank account.

[Wolly]

Hi,

 

Ive found the best way to pay is with the payment cards you take to the post office (i have a credit meter installed not a PP), and agree with your supplier a monthly amount to pay.

 

That way, they cannot increase your direct debit, and if you are short of cash one month, i usually just pay maybe half, and pay the rest the next month. Im with Pgen, and they have never said anything about me doing this.

 

Alternatively, if you cant be bothered trekking to the post office every month, cancel your DD and pay the bills monthly online using internet banking. The discount you get is not usually much anyway.

 

I cancelled my DD when Pgen increased my payments and took more money then they should out of my account without informing me. I agree with Ozzy, they dont control my finances!

 

Hope this helps.

[buzby]

A Standing Order isn't appropriate way to pay for standard metewred consumption because this only provides for a set unchanging amount. There are schemes where utilities will agree your future consumption figure and average this over 12 months, giving you 12 equal installments. The plus side is that providing the estimate is reasonable, you'll over-pay in Summer, but average out in winter. The utilities also reserve the right to recalculate should your consumption deviate from the original calculation, but as an alternative to a DDM, it's a winner!

[oneofakind]

Wolly, do you realise how much more you're paying with that system?

 

you may think you're in control, but you're losing out, mate. Buzby's way is better. Besides which, DDs can always be cancelled....

 

[morteee]

I pay all mine via standing order as I get paid 4 weekly and not calendar monthly

 

am with atlantic for gas/electricity and severn trent for water and I have never had any problems.

 

all I do with gas and elec is phone them once every 6 months, ask what my last 12 months bills were added up and then divide that amount by 13 to work out my payments

 

works fine for me as am in credit with both and my water gets paid of early every year

[oneofakind]

Sorted, Mortee!

 

Far better to keep yourself out of the sh*t than have to try to climb back out.

 

(said the man with bitter experience and smelly fingernails...)