Outfox The Market Direct Debit changes

Pete99

It's beginning to look to me that a 12 month + fix is not a safe option, you build up a serious amount of your money in their bank account and have no way of recovering it quickly or stopping them increasing the amount they take each month or leaving without incurring a large exit charge, I think that the route I'll take in the future is to switch to a reasonable priced supplier with a variable tariff and if they increase too much or build up an unreasonable amount I'll just switch again every couple of months or so, at the moment I've taken a switch to Octopus with a 12 month fix but no exit fees, I don't like the way they seem to look on your bank account as their own source of free running capital.

paters

Pete99, surely it's only the tariff (standing charge and unit rate) that's fixed? You can ask for a repayment or DD review at any time, likewise your supplier can increase your DD if you use more energy.

The problem here is to do with OTM's poor customer service, so I wouldn't let that put you off fixed tariffs across the board. For me the cheapest deals (with reputable suppliers) were all fixed. And looking ahead with the price cap coming in etc. I reckon it's a good time to fix as prices always seem to go up more often than they come down.

Pete99

Yes Paters, we all know that a fixed deal involves the unit rates and standing charges being fixed, when it comes to the monthly direct debit I don't mind a few quid up or down so that your account is near zero at the end of the year, that isn't what has been happening though, if Octopus are reasonable then I'll stay with them if it all goes pear shaped I'll switch, I want my money in my bank account, not theirs !

otbc.ncfc

Unfortunately they seem an absolute shower of .....

So I had completed the MSE switch instruction to Bristol Energy about 10 days ago and gave them a call as hadn't heard anything...turns out as I'm in a new build, OFTM haven't updated the central database to link my postcode to my meter, so they have no knowledge of us even having a gas supply here to switch.

I'm at a complete loss as to what to do now. Apparently I have to get in touch with OFTM and they'll update the central database, but I think from everything which has happened here it'll not be easy. Not only that but I can't actually switch until this is done, so it's likely that it taking ages will mean I have to stay with OFTM for even longer!

BedrockFred

Pete99 wrote: »

Yes Paters, we all know that a fixed deal involves the unit rates and standing charges being fixed, when it comes to the monthly direct debit I don't mind a few quid up or down so that your account is near zero at the end of the year, that isn't what has been happening though, if Octopus are reasonable then I'll stay with them if it all goes pear shaped I'll switch, I want my money in my bank account, not theirs !

I don't mind being in credit as long as like all my other energy suppliers will refund your in credit balance when you ask
OFTM won't as I have found out so when I decided to switch away I asked the question from my new supplier who confirmed they would but they have set a realistic DD amount so I won't be in too much credit taking into account I am moving during the higher useage period

I do the same with my water bills and my company are very good and always refund me when I ask

intalex

I have a large credit balance (~2.5 months' worth) built up and have notified OFTM I disagree with their increase of my direct debit amounts and asking them not to take any more direct debits (following the increase) until they refund my credit balance first.

I won't cancel my direct debit, but as soon as I see an attempted collection of the next direct debit from my account, I'll call my bank and report a misuse of the direct debit scheme (on the basis I notified them) and asking the bank to protect the funds until the matter is resolved.

Hopefully this protects my future payments whilst my credit balance covers me for ongoing winter consumption.

jk0

I was musing in the bath last night, whether we could use the direct debit guarantee to recoup money from OFTM in the event of them taking money they aren't entitled to.


Any thoughts?

dprice8893

intalex wrote: »

I have a large credit balance (~2.5 months' worth) built up and have notified OFTM I disagree with their increase of my direct debit amounts and asking them not to take any more direct debits (following the increase) until they refund my credit balance first.

I won't cancel my direct debit, but as soon as I see an attempted collection of the next direct debit from my account, I'll call my bank and report a misuse of the direct debit scheme (on the basis I notified them) and asking the bank to protect the funds until the matter is resolved.

Hopefully this protects my future payments whilst my credit balance covers me for ongoing winter consumption.

You have to be careful you're not using the DD guarantee system as part of a dispute, as it explicitly states you can't do that.

If you've told them not to take money for a legitimate reason and they go ahead, perhaps you may have a case. I suspect it depends on what you tell your bank and what evidence you produce.

Steve456

jk0 wrote: »

I was musing in the bath last night, whether we could use the direct debit guarantee to recoup money from OFTM in the event of them taking money they aren't entitled to.


Any thoughts?

dprice8893 wrote: »

You have to be careful you're not using the DD guarantee system as part of a dispute, as it explicitly states you can't do that.

If you've told them not to take money for a legitimate reason and they go ahead, perhaps you may have a case. I suspect it depends on what you tell your bank and what evidence you produce.

Your bank (at least in my case) simply asks for a reason for a DD reversal; you need supply no proof or other information.


In the case of many on here who have explicitly (and with good reason) told OFTM to either not take that DD or perhaps to take a lower figure, of course you can have your bank refund the money to you.

MuneyBear

sam.4000 wrote: »

They must be in am absolute mess and I presume are making a last ditch attempt at saving them selves.

I was paying my last company £46 a month and this covered my usage over a 12 month period. This ended in August, outfox set my direct debits at £65 a month and when I contacted them they wanted to leave it a few months the to see my usage before they lowered it.

Email today winter direct debits £109 and summer £ 47.

Switched this morning, can I stop them taking a direct debit of £109?

Can you recommend a good one to switch to?