Switching - advice please!

melbury

At last I am actually going to do it - i.e. switch gas and electricity suppliers. I have decided to switch to Ebico for both, as they seem really fair and by far the cheapest option. Also I like the idea of paying quarterly by cheque rather than direct debits which can be changed!!

My question is:

What happens about the outstanding account I will have with both my current gas supplier (BG) and electricity supplier (SWEB)? Do they send me a final bill and I pay them off by cheque? Do they insist on coming and doing a meter reading for themselves, or do they trust me? Also, when should I cancel the DD to BG?

Any advice would be appreciated. I know many of you have changed supplier a number of times, but I have never had the courage before - it just seemed easier to stay with the same suppliers than risk getting bill mix ups etc. However, I am now totally disenchanted with BG and don't feel I owe them any loyalty whatsoever.

Thanks.

Mike_by_the_Sea

Hi melbury

When changing suppliers, what would normally happen is that your new provider would request meter readings from you which would then be used by your existing providers to calculate your final bill(s).

Your existing providers would then send you a final bill and request payment. If you are able to pay the balance in full, then do so. If not, then you can go back to them and request to pay them in installments over a reasonably short period of time.

BG would normally advise that they will take the final payment under your existing DD. Again, if you would prefer to pay over time, then you will need to get in touch with them asap, having got the bill. As for cancelling the DD, and people will probably shout at me for this, I wouldn't worry too much. The DD Guarantee states that any payment taken in error will be sorted out by your bank - see below

The Guarantee
If the amounts to be paid by Direct Debit or the payment dates change, the organisation collecting the payment will notify you normally 10 working days in advance of your account being debited or as otherwise agreed.

If an error is made by the organisation or your bank or building society, you are guaranteed a full and immediate refund from your branch of the amount paid.

If any payment is made in error, you should contact your bank or building society who are responsible for giving you a full and immediate refund - even if the original error was made by the organisation collecting the payment.

Direct Debit is one of the safest ways of paying your bills. Fraud rarely occurs because organisations using the Direct Debit Scheme go through a careful vetting process before they're authorised, and are closely monitored by the banking industry. But if money were to be taken from your account fraudulently you'd be protected by the Direct Debit Guarantee, and would be entitled to an immediate refund from your bank or building society.

Good luck and I hope it all goes smoothly.

Mike

Ken68

Hi Melbury, when moving to EBICO recently I left the DD in place with Powergen who took the final payment, and they advised me in advance of this.
EBICO kept me informed throughout and had several letters from the previous suppliers, please stay. The bank details were also transferred from Powergen to EBICO and re-assessed (lower in this case). Very pleased so far with the competative prices and the ethical stance of my new supplier.

melbury

Thanks for the information.

I completed the application form for Ebico online yesterday, so after years of dithering I have finally done it! I am not really worried about Ebico, it is more what will happen with BG and how much they will muck up the transfer and make it stressful.