Outfox The Market Direct Debit changes

shaftthemarket

Well, I too have initiated a switch, to the two year fix. According to the MSE application confirmation email, "We've run the numbers and we reckon you'll be paying around £-225 less per year than if you hadn't switched." After I'd run the numbers, I came to the conclusion that £-225 less per year just might mean £225 more per year. But in the wonderful world of utility marketing we all know less is of course more.

Actually that less is more figure of £225 is wrong, because MSE is still using OTC (Outfox The Customer, formerly known as OTM) pre-December prices. It seems that The Fox has outfoxed The Expert... but there you go. Or maybe The Expert isn't looking in the right fox holes. Be that as it may, if I factor in December's OTC hike (but not the DD robbery uplift), the figure comes down to not more than £100pa. But - and this is the key thing - it's a two year fix, whereas OTC will continue to hike prices/rob customers (until they hit the fan). My guess is unless they hit the fan before, by around the middle of next year I may well be saving money compared to what I would pay if I had stayed with OTM. Of course, the market could be very different then - who knows? But at least I'm out of OTC clutches, and have - for now - some degree of certainty.

Oh, and the other sweetner is Mr Lewis's encouraging customer service bonus: "EXTRA CUSTOMER SERVICE: We've arranged enhanced customer service for this deal, so basically if it doesn't sort the problem we can get involved." Given how dreadful and shocking this appalling market thing is, I hope Mr Lewis has the confidence of his convictions on this one, otherwise he is going to be a very busy bunny come the months ahead.

gb908010

Steve456 wrote: »

Just read the Direct Debit Guarantee. At any time, you can speak to your bank and instruct them to reverse a Direct Debit payment (and there seems to be no time limit on when that payment was made, so quite possibly instruct to reverse payments made for a number of months).


There is a mechanism whereby the company who took the payment can appeal the reversal but, so long as you are being reasonable, I can't see that being an issue.


It's certainly a lot quicker (as in instantaneous!) than waiting for a refund.


https://www.directdebit.co.uk/DirectDebitExplained/pages/directdebitguarantee.aspx

Im still waiting for a credit from my previous supplier to OFTM so might try this DD reversal.

thanks

BedrockFred

RS2OOO wrote: »

I've been stewing on this for a week now as have most of us. It feels almost like a dumbed down version of the various stages of grief.

As a re-cap, my DD was £82.03 and will now be 6x £143.55 and 6x £61.52 and I expect my
(already in credit) account to gain even more credit.

Carried out a comparison with the "big six" against my exact usage figures over the last 12 Months and EDF come out £735 per year more expensive and gave me a Monthly direct debit over 12 Months of £163.78 - £20 more than OTM's winter period uplift!

Cheapest supplier I can find is £230 per year more than I pay with OTM.

So whilst I agree the way OTM have gone about this exercise is absolutely wrong on every level, and I have submitted a complaint (15th Nov and no response yet), money talks so I will be sticking with them for now.

Even if they go bust and my credit balance is frozen for a period of time, as long as that credit balance is under £230 I'll still be better off than if I switch now.

You my friend need to look around more there are suppliers out there who are on a par with OFTM and some just a few pounds more and don't forget they have just announced another price rise (3rd one in a little time) and the membership payment was also recently increased


With all the customers moving on many claiming back their credit balance of around £200 expect another increase in the new year if they can continue to supply

alittleowl

Terry_Towelling wrote: »

I wonder also if they are planning more price hikes over winter, such that the lower summer payments (variable tariffs) will end up being not quite so low as they are leading us to believe..

My bank made this very point when I told them about the proposed DD changes last week. Just because they say they'll lower the prices in April doesn't mean that they will. There's nothing to stop them putting the prices up over winter again, and again, and again, and/or writing to their remaining customers in March saying "actually, we've changed our minds, we're keeping you on your 'winter' DD". Given how OFtM have behaved over the last week, nothing would surprise me.

mije1983

tighterthanaducks wrote: »

Mine has gone up by a factor of 2.48 times or a 148% increase!!!

Does anyone have a bigger relative increase or has mine set a record?

Mine has also gone up 148%. I'm 3 months in credit currently and even their own EAC (that was sent after the price rise email, but before the new DD email) divided by 12 is less than my 'summer' monthly payment, let alone the crazily high winter payment! I'm patiently waiting for the incorrect DD to come out, so I can reclaim it via the DD guarantee.

I'm starting to lose hope in OFTM. Not just this DD debacle, but the amount of emails I have received from them over the last week or so, and half seem to be correcting errors in previous emails. It doesn't bode well for their set up, especially when combined with numerous complaints of their live chat not working for people (despite it being their 'preferred way of contact'), long wait times on the phones, and no replies to emails.

If I was cynical, I may think these huge hikes were because they were desperate for cash flow to stay afloat.....

1974Stephen

We need everyone here to proceed urgently to TRUSTPILOT and leave a review of them. Their score is still really good. Quit moaning here. Change supplier and go to Truspilot. SHUT THEM DOWN

mije1983

1974Stephen wrote: »

We need everyone here to proceed urgently to TRUSTPILOT and leave a review of them. Their score is still really good. Quit moaning here. Change supplier and go to Truspilot. SHUT THEM DOWN

Trustpilot is a misnomer really. Never trust anything you read there, good or bad.

1974Stephen

mije1983 wrote: »

Trustpilot is a misnomer really. Never trust anything you read there, good or bad.

In this instance that supplier dont deserve the score it holds. So tata.

mije1983

1974Stephen wrote: »

In this instance that supplier dont deserve the score it holds. So tata.

I'm not disputing that, but I think you are putting too much stock in the benefit of Trustpilot, and not enough in the benefit of forums such as this. A lot of people take reviews with a pinch of salt, as often they are terribly bad or unbelievably good so don't usually provide a true reflection. By all means leave a review on there, but to tell people to 'proceed urgently to TRUSTPILOT and leave a review of them' and 'Quit moaning here' makes it out that you think TP may be a silver bullet. For example, Sports Direct has a score of 1 but they still make millions every year.

If you Google 'outfox the market', the news story from MSE about the DD hikes (which then links to this thread) is 2nd only to the official site. Whereas TP is 4th, with 3rd place also being an MSE story about hikes.

As an aside, I wouldn't be surprised if this was the start of the end for OFTM anyway. As I said in a previous post, the hikes may be to get some much needed cash in the coffers. But then what will they do come April?

Merlin139

So after cancelling my Direct Debit 6 days ago they have sent me an E-mail to say my DD will be reinstated.

Not at the new amount but at the old amount? So no increase?

Have I been successful or is it a mistake?

Have sent an E-mail to ask if anyone knows what they are doing!

Just checked my account. DD has been reinstated for original amount of £61.38 but on the plus side they have paid in a credit of £198.44 They have retained £85.39 of my credit that being the proposed new DD amount.

2nd Edit: OFTM account still shows my original Credit balance of £284.37