Why Have Ovo Energy Credited My Bank Account?

Sagz_2

Ovo pay interest on any in-credit balance, if you have built up a large credit then you will be costing them money!

Jonesbo

Smodlet wrote: »

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.

Interestingly when I go into my account it actually shows me in £250 credit and offers me another £125 refund which makes me think the £800 odd possibly is a mistake. Also suggests revising my current £150 DD down to £71.

Whatever the result, this at least gives me the kick up the @rse to sort out my energy bills

Smodlet

Sagz wrote: »

Ovo pay interest on any in-credit balance, if you have built up a large credit then you will be costing them money!

They pay interest? I'm in the wrong universe!

Gloomendoom

Smodlet wrote: »

They pay interest? I'm in the wrong universe!

They do and, last time I looked, it's a better rate (pre tax) than you will get from most ISAs

Sagz_2

Gloomendoom wrote: »

They do and, last time I looked, it's a better rate (pre tax) than you will get from most ISAs

3% at the moment :money:



https://www.ovoenergy.com/ovo-answers/topics/payments-and-statements/ovo-interest-reward/what-is-the-ovo-interest-reward.html

Smodlet

Thanks for the link, Sagz. Just looked up their unit rates via the Cheap Energy Club... OUCH! They would cost me another £119 per year; not really worth it for me, but thanks anyway.

OVO_Energy

Jonesbo wrote: »

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

Hey Jonesbo! Lucky you - that's a nice lump sum to have back. We refund customers that have a large balance on their account so it sounds like this is what's happened here. If you'd like us to check into it further, you can email us at socialmedia@ovoenergy.com with all your details.

Jonesbo

OVO_Energy wrote: »

Hey Jonesbo! Lucky you - that's a nice lump sum to have back. We refund customers that have a large balance on their account so it sounds like this is what's happened here. If you'd like us to check into it further, you can email us at socialmedia@ovoenergy.com with all your details.

Great thanks, I've emailed hello@ovo to double check. Unfortunately it's also kick-started me into switching to a new provider. Have to say though Ovo CS has been excellent, my first ever experience of CS from an energy company that's not just uniformly terrible, quite the opposite in fact.

OVO_Energy

Ah that's a shame but it's totally understandable if we're not quite the right fit for you. Yep, just double check in case there's anything left to pay on your account after you leave us.

Thank you for your kind words about us! We try our best to be uniformly great instead

poppellerant

It might be a good idea to check when your most recent meter readings were taken and submitted to OVO. If it was some time ago and OVO are currently basing your usage on estimated readings, you may got a nasty surprise. :eek: