TV licence & method of payment

JustAnotherSaver

Mum has just got an email reminder she needs to pay up.

Looking at the payment options there's in full, monthly or quarterly.

I see quarterly means you pay more ATEOTD.

Looked at the monthly direct debit & the quote is a bit wishy-washy of "around £24".

When the 6 months (1st year) or 12 months (thereafter) are up, is the amount paid the exact same as paying in full or is it a bit extra?

Just so we know which payment option to select. If they're the exact same when it's all done with then she'll be going for the installments.

I_luv_cats

JustAnotherSaver wrote: »

Mum has just got an email reminder she needs to pay up.

Looking at the payment options there's in full, monthly or quarterly.

I see quarterly means you pay more ATEOTD.

Looked at the monthly direct debit & the quote is a bit wishy-washy of "around £24".

When the 6 months (1st year) or 12 months (thereafter) are up, is the amount paid the exact same as paying in full or is it a bit extra?

Just so we know which payment option to select. If they're the exact same when it's all done with then she'll be going for the installments.

Paying monthly you have to pay 6 months ahead and 6 months behind.
To get you in the right cycle, you have to pay double payments for the first 6 months.
After that it's single payments all the way.

I_luv_cats

eg.

Licence due 22 sept 2013

Pay £24.24: 22/9, 22/10, 22/11, 22/12, 22/1, 22/2. (to get in the cycle)

Pay £12.12: 22/3, 22/4, 22/5, 22/6, 22/7, 22/8 (to maintain 6 + 6)

HappyMJ

JustAnotherSaver wrote: »

Mum has just got an email reminder she needs to pay up.

Looking at the payment options there's in full, monthly or quarterly.

I see quarterly means you pay more ATEOTD.

Looked at the monthly direct debit & the quote is a bit wishy-washy of "around £24".

When the 6 months (1st year) or 12 months (thereafter) are up, is the amount paid the exact same as paying in full or is it a bit extra?

Just so we know which payment option to select. If they're the exact same when it's all done with then she'll be going for the installments.

Personally if you don't have the money to pay in full upfront then I like the pay quarterly in advance option. Yes it costs £5 a year more but you can cancel the direct debit at any time and not pay the remaining quarters if a licence is no longer required. So no need to apply for a refund. It's also perfect for students who live away from home and only require 9 months of a TV licence each year.

JustAnotherSaver

My mum isn't a student though. She's just wanting to pay her licence & i offered to see if there was any extra cost by going direct debit.

HappyMJ

JustAnotherSaver wrote: »

My mum isn't a student though. She's just wanting to pay her licence & i offered to see if there was any extra cost by going direct debit.

Depends if you don't mind lending them 6 months worth of payments for no interest in return. If she has an overdraft, mortgage, loan or credit cards you could be better off paying the 6 months of premiums towards the credit card instead and paying the £5 a year to TV licensing. If she has the money then pay it all upfront....it's cheaper.

Cornucopia

You may not get interest for the 6 months you are in credit, but you don't pay interest for the 6 months you are in debt, either.

That's the idea of the revolving scheme.