Charge for moving to new

2makeit

I am trying to get a better deal for gas and electricity, so was going to change to EBICO,got a postcard to phone them, and was told that i need to pay £150 deposit(but will get it back +interest in 12 months)

reason- they checked my credit rating and it did not pass their levels.

I thought they were a non profit organisation and tried to help low paid people??

Is it possible to move companies to a cheaper level than N-Power??

i can't do direct debit as on very limited funds and find it easier to pay cash/payment card at post office/shops.


thanks

Premier_2

Ebico are a non profit making company.

They won't make any money from you in holding a deposit if they have to return it to you with interest. They need this deposit as they are extending credit to you and want to be sure that you will pay their bills.

They may be prepared to waive this deposit if you agree to pay monthly by DD - but you are not prepared to do that even for 1 year.

The advantage with Ebico is that they will charge you the same price however you pay, so have you considered a pre-payment meter from them? They will not require any deposit for energy supplied via a pre-payment meter.