Why Have Ovo Energy Credited My Bank Account?

Jonesbo

Hi,

I've been with Ovo for a couple of years, just logged into my bank account to see they've just paid me £800, and all it says is:

CR OVO ENERGY - PYMTS

No idea what this relates to so guessing it's likely a mistake? I've never requested any account excess to be credited back to me, in fact I've never even really checked my account with them (although I realised I should do).

Thanks

Smodlet

Have you asked them what it is for? Maybe try that?

victor2

I would guess they've done a review, and cleared your credit balance by refunding you, which suggests you've been paying considerably more than you needed to.
Your direct debit amount has probably been reduced as well. Contact them or register for an online account and check how your account looks. You're possibly on their standard tariff if you haven't checked in a while - that means your rates are almost certainly higher than they need to be.

Jonesbo

Smodlet wrote: »

Have you asked them what it is for? Maybe try that?

No, not yet, for obvious reasons!

Bluebirdman_of_Alcathays

Jonesbo wrote: »

No, not yet, for obvious reasons!

Huh? I'm lost!

Jonesbo

victor2 wrote: »

I would guess they've done a review, and cleared your credit balance by refunding you, which suggests you've been paying considerably more than you needed to.
Your direct debit amount has probably been reduced as well. Contact them or register for an online account and check how your account looks. You're possibly on their standard tariff if you haven't checked in a while - that means your rates are almost certainly higher than they need to be.

Sorry for the confusion, I meant I haven't called them in case it's a mistake. Just wondered if anyone else had had a payment like this and what it related to. Will try and sort my online login and find out, and yep had the mse energy saver alert not too long ago so I guess now is a good time to look at the account and look at my options. Thanks!

Smodlet

Jonesbo wrote: »

Sorry for the confusion, I meant I haven't called them in case it's a mistake. Just wondered if anyone else had had a payment like this and what it related to. Will try and sort my online login and find out, and yep had the mse energy saver alert not too long ago so I guess now is a good time to look at the account and look at my options. Thanks!

Surely, if it is a mistake, it is better to find out before you spend the £800 and end up with massive debt to your energy provider?!? With a corresponding black mark on your credit file, no?

Dude, seriously, if you are fly enough to know about the Cheap Energy Club, you are more than fly enough to stay on top of your energy account. I cannot imagine there is a supplier out there who does not offer an online a/c in this day and age. I spent two hours yesterday going through my last eight month's worth of bills trying to establish whether n(o use)power had messed up, or not. Was it worth it not to have to call them yet again? You betcha, by golly, wow.

You have probably been overpaying by a great deal, as has been suggested. I am certain you could put that money to better use than leaving it to fester in the Bank of Ovo... but is it not better to know rather than ask us to guess? Only you can find out for sure. Enjoy your windfall, unless it's a mistake. :cool:

Jonesbo

Smodlet wrote: »

Surely, if it is a mistake, it is better to find out before you spend the £800 and end up with massive debt to your energy provider?!? With a corresponding black mark on your credit file, no?

Dude, seriously, if you are fly enough to know about the Cheap Energy Club, you are more than fly enough to stay on top of your energy account. I cannot imagine there is a supplier out there who does not offer an online a/c in this day and age. I spent two hours yesterday going through my last eight month's worth of bills trying to establish whether n(o use)power had messed up, or not. Was it worth it not to have to call them yet again? You betcha, by golly, wow.

You have probably been overpaying by a great deal, as has been suggested. I am certain you could put that money to better use than leaving it to fester in the Bank of Ovo... but is it not better to know rather than ask us to guess? Only you can find out for sure. Enjoy your windfall, unless it's a mistake. :cool:

I had no intention of spending it

Just like to size these things up first. Have emailed them and also checked my online account which shows my direct debits are pretty high compared to actual usage so hopefully is just a automatic refund but will wait to hear back.

You're right I should be on top of my energy bills, but in-between taxes, car insurance, home insurance, kids, work, tax credits, phone contracts, broadband contracts, bank accounts Etc Etc Etc Ad nauseam, there's always something that gets left behind!

Given the state of interest rates I won't be too unhappy if the bank of Ovo has been acting as an unofficial 0% savings account haha

[Deleted User]

Smodlet wrote: »

I cannot imagine there is a supplier out there who does not offer an online a/c in this day and age.

Dailgas don't

Smodlet

Jonesbo wrote: »

I had no intention of spending it

Just like to size these things up first. Have emailed them and also checked my online account which shows my direct debits are pretty high compared to actual usage so hopefully is just a automatic refund but will wait to hear back.

You're right I should be on top of my energy bills, but in-between taxes, car insurance, home insurance, kids, work, tax credits, phone contracts, broadband contracts, bank accounts Etc Etc Etc Ad nauseam, there's always something that gets left behind!

Given the state of interest rates I won't be too unhappy if the bank of Ovo has been acting as an unofficial 0% savings account haha

Hey, yeah, you! I know the feeling! At least, if you are ridiculous amounts in credit, you don't have to sit and shiver. You sound as if you have your head screwed on; that money is better at your disposal than Ovo's, no? Best of luck.

Smodlet

gsmlnx wrote: »

Dailgas don't

It is refreshing to know there is a provider out there with a worse online a/c than npower's! I am well jealous that Eon and Scottish Power have buttons you can click to calculate what your bill would be every time you send meter readings. NP used to do it automatically; now they can't do it at all... the so-and-so's are still the cheapest for me, though.