Cancel Co-Operative Energy Direct Debit?

Bluefire

Just after a bit of advice...

We completed our switch from Co-operative Energy to Flow Energy yesterday. Currently we are around £340 in credit on our Co-Operative account & awaiting our final bill (which should be around £50 according to my calculations)

I've read plenty of horror stories about Co-op taking DD payments even after accounts have been closed, and to be honest we could do without shelling out another £136 which we'll then probably have to chase to get back, especially as we're paying Flow now too.

I know energy companies give you the line of needing the DD still set up to give you a refund, but I'm tempted to cancel it so they can't take more payments. What would you do?

fussypensioner

Bluefire wrote: »

Just after a bit of advice...

We completed our switch from Co-operative Energy to Flow Energy yesterday. Currently we are around £340 in credit on our Co-Operative account & awaiting our final bill (which should be around £50 according to my calculations)

I've read plenty of horror stories about Co-op taking DD payments even after accounts have been closed, and to be honest we could do without shelling out another £136 which we'll then probably have to chase to get back, especially as we're paying Flow now too.

I know energy companies give you the line of needing the DD still set up to give you a refund, but I'm tempted to cancel it so they can't take more payments. What would you do?

I would cancel the DD, (I did this with Extra Energy) then when you get your final bill they can usually credit your account, or if you are in debit you can make the payment over the phone/website. You are no longer a customer of Co-op.

Extra Energy have a poor customer service as well and they were delaying refunds because their response was slow. Take control!

FOREVER21

Bluefire wrote: »

Just after a bit of advice...

We completed our switch from Co-operative Energy to Flow Energy yesterday. Currently we are around £340 in credit on our Co-Operative account & awaiting our final bill (which should be around £50 according to my calculations)

I've read plenty of horror stories about Co-op taking DD payments even after accounts have been closed, and to be honest we could do without shelling out another £136 which we'll then probably have to chase to get back, especially as we're paying Flow now too.

I know energy companies give you the line of needing the DD still set up to give you a refund, but I'm tempted to cancel it so they can't take more payments. What would you do?

I am in a similar position as you switching from co op after many mistakes with their billing ( we eventually got one after 8 months without any bill or access to online account).

I too will be in credit when my final bill arrives and I wondered whether or not to cancel my next DD. There seems as with everything
different opinions.

However I have decided that my experience of their billing system and others having difficulty in getting a final bill and refund, then it seems sensible to limit the amount they owe me, so I have cancelled my DD.

footyguy

General advice is NOT to cancel your Direct Debit Mandate before you receive your final bill.

Lots of reasons why, including you do not know the final balance until you receive your final bill nor what assumptions have been made in producing that nill (e.g. what future payments, if any have been included on it)

If it turns out you owe the supplier money, they will want to collect it via DD (after appropriate notice)
If it turn out the supplier owes you money, I know of at least some suppliers that say they need the DDI active so that they can see your bank account details so they can credit your bank account accordingly.

Also, at least one supplier (cough*EDF*cough) may recalculate your bill on another, more expensive tariff if you cancel the DDI. And they might backdate such recalculation too! (Depending on circumstances, this may be effectively challenged, but it's just more hassle)

The supplier should close your DDI on the last payment anyway, by using an appropriate transaction code. (This may not happen if you are in credit for a final bill and so no final payment is collected)

Paying possibly 2 lots of monthly payments when you switch supplier is one of the cash-flow issues that you need to consider when switching supplier.

However, if after all the above advice, you feel certain your account will be in credit at final billing without you making any further payments, and you really want to avoid any further payments to your old supplier, then I suggest you call them first and discuss your situtaion and that you wish to cancel the existing DDI as a result and see what they say

r2015

I've stopped my direct debit.

you do not know the final balance until you receive your final bill

I do, I've calculated what my readings will be when I switch, easy enough to do if you have a computer and spreadsheet.

may recalculate your bill on another, more expensive tariff if you cancel the DDI

then you should not pay the cancellation fee.

molerat

I have done the same with my supplier. They have a track record of not issuing a final bill and not refunding when they do eventually get round to it. I know exactly what my final bill will be - I will engineer the final meter read to ensure this, well within the industry tolerances for switching reads and that read will definitely be a correct one sometime in the 10 day read window - and if they wish to charge a non DD tariff they can go whistle and I will take it all the way to the ombudsman which will cost them a lot more than the difference in the tariffs. The whole industry is filled with incompetents and it is about time that the consumers stood up to them and their one sided T&Cs.

FOREVER21

FOOTYGUY quote;"I suggest you call them first and discuss your situtaion and that you wish to cancel the existing DDI as a result and see what they say "




LOL have you tried telephoning Co op Energy ? I have done the maths and will be in credit when I switch and have cancelled further DD.


I fully expect a battle to get my small credit back , but don't see why I should give them more money than I owe.

r2015

I fully expect a battle to get my small credit back

With the readings I am going to give them I will be either £50.11 in credit or 11p in credit depending on whether I have to pay the leaving fee.

footyguy

r2015 wrote: »

...
then you should not pay the cancellation fee.

That will depend on the terms of the contract you agreed with.

Most suppliers will only usually waive early exit fees if you move home, not for a change of tariff (Eon is one notable exception)

footyguy

r2015 wrote: »

...I do, I've calculated what my readings will be when I switch, easy enough to do if you have a computer and spreadsheet.....

So you know what assumption the supplier has included in their final bill preparation before you even see it?

Which spreadsheet package is that which comes with a built in crystal ball???

footyguy

FOREVER21 wrote: »

FOOTYGUY quote;"I suggest you call them first and discuss your situtaion and that you wish to cancel the existing DDI as a result and see what they say "


LOL have you tried telephoning Co op Energy ? ....

No, I have never had any reason to as I have never even considered being supplied by Co-Op Energy.
They have never offered the best price for me.

Some low cost suppliers (like the ones I use) don't like telephone queries, but prefer online/emailed queries (so please don't take my advice to 'call' them too literally - any form of contact will do )