cancel a Direct Debit before switching?

earlsgate

I have have built up some credit with the supplier I wish to switch away from, and by the time of the switch, I can't see that we will be owing them anything even if I cancel the DD now

the only problem I foresee is the return of anything we have still in balance without the direct DD mechanism in place. Surely if they have our bank details they can make a transfer into our account? or are obliged to issue a cheque

TIA

martin

Neil_Jones

So why not leave it?
Worse comes to worse they can issue a cheque but you'd have to receive it, pay it in, wait three working days for it to clear, whereas with a bank payment through the details they already have when it happens it's there and usually cleared the same day.

smokey_dave

I change supplier every 12 months and always leave my direct debit open.
If money is owed to me it has always been returned to my account.

If you cancel the direct debit it could take ages till you get what is due.

earlsgate

yes good advice, just a bit worried about letting the credit get too big

brewerdave

The only time I have cancelled a DD with a supplier is when they have gone out of business - don't trust the administrators of the defunct Co. not to dip into my current account!!
I've always left the DD live when I've switched from a going concern.

Neil_Jones

earlsgate wrote: »

yes good advice, just a bit worried about letting the credit get too big

If you're worried about your old supplier going under (I'm assuming you're with Outfox at the moment which as you may have noticed from the other threads have managed to upset everybody and then some more), then if that supplier does go under the appointed new supplier (as in the case of Spark and Extra) will usually honour the credit which you can claim.

However in any other circumstance if you don't get your credit back in a reasonable amount of time (say six weeks or so after you left) then phone them up and chase it.

With your new supplier you may want to limit or tweak the direct debits to ensure you don't have a whopping great credit; just bear in mind we're at the back end of November now so you will be using more energy between now and next February than you will probably use for the entirety of next summer.

t0rt0ise

If you cancel the dd they can put you immediately on their most expensive tariff and so your final bill be higher.