Monthly DD when is the amount decided ?

metrobus

I am thinking of switching to British gas duel fuel.

However to do this on the tariff i wish I have to switch to monthly direct debit.

When is the monthly amount decided,before or after I commit to switch.

dogshome

Hi metrobus - Your monthly D/D amount should be one twelfth of your annual bill, so to get an accurate figure you have to add up the total consumption on a full years bills, then apply the total to the tariff you are on.

metrobus

I know my average annual spend is £770 (£470 gas £300 electricity)
however i did not think i could tell a supplier that my DD is going to be
£64.16 per month.
More a case of me agreeing the DD they suggest then claiming anything back should it be to much.
Do I have to commit before they tell me my monthly DD amount ?

Thank you.

Premier_2

If you call them, I'm sure they will propose an appropriate monthly DD with you bvefore you agree to any switch.

They won't do it down to the peeny, but on the figures you provide, £65 per month would seem reasonable.

They'd probably agree to £50 a month if it meant they secured your business, but remember monthly DD payments are kept under review and they may change them in the future should they believe you are not paying enough to cover your annual consumption.

metrobus

Thank you

I am happy to pay £70 a month ,I just do not wish to sign up then they tell me they are taking £90/£100 per month .

speedbird1973

You're covered under the DD guarnantee.. if you want to give them £50 a month they may kick and scream, but there's nowt they can do. They take what you want them to take. End of.

Premier_2

speedbird1973 wrote: »

You're covered under the DD guarnantee.. if you want to give them £50 a month they may kick and scream, but there's nowt they can do. They take what you want them to take. End of.

That's incorrect.

The DD guarantee only allows for recovery of amounts collected in error.

As long as the Originator advises the Payer of the amount due by giving the proper Advance notice, the amount will be collected.... End of

DVardysShadow

Premier wrote: »

That's incorrect.

The DD guarantee only allows for recovery of amounts collected in error.

As long as the Originator advises the Payer of the amount due by giving the proper Advance notice, the amount will be collected.... End of

But beyond 'End of', if you tell them that they are not authorised to take the money, the DD guarantee is valid. End of DD.

Beyond End of DD, the utility may decide to withdraw the DD account, but nowadays, you do have the right, I understand to demand the calculation of the DD amount form the utility.

End of.

speedbird1973

Premier wrote: »

That's incorrect.

The DD guarantee only allows for recovery of amounts collected in error.

As long as the Originator advises the Payer of the amount due by giving the proper Advance notice, the amount will be collected.... End of

However Premier (or Conference would be more appropriate?). It's not for the bank to determine whether the company connecting the DD is in error or not. It's for the payee to inform the bank, who must then act. The FOS wesbite has chapter and verse.

End of