I left Outfox The Market at midnight

hubb

wavelets wrote: »

Yes, cancel it ... if you didn't like the answer I provided you earlier :cool:

Sorry, my last post must have crossed yours at the same time so didn't see it.

JS2006

I initiated a switch yesterday and immediately cancelled my DD which is usually taken on 1st of the month. I have repeatedly emailed them to discuss the fact that almost doubling my DD with only 2 weeks notice in the run up to Christmas would have a massive impact on my finances and they have not yet replied (11 days and counting).

They’ve tried to screw me, so I’ve screwed them. They can use my credit balance to clear my last bill.

step1974

I have to say I am loving reading about all the others voting with their feet at leaving this Outfox the Market.

Anthorn

hubb wrote: »

So again, as I am already in credit by £92 and leaving, there is no need for them to take another £92 from my account on the 5th so:

Am I safe to cancel my DD ?

Probably not. You have agreed to pay an amount on a date mutually agreed. It depends on whether there is a penalty for not paying by direct debit. This could be something like an administration charge or (as with EDF for example) an immediate change of tariff which could be pricier. So you could find as a result erosion of your credit balance. Secondly depends on how the refund of your credit takes place: Probably a refund through your direct debit and if you have cancelled the DD a much delayed cheque by post.

In conclusion before you even think about cancelling the DD read the Ts&Cs.

alittleowl

I would echo all the cautionary advice about cancelling the DD without telling them and without talking to your bank. I did the latter (I'm with First Direct so it's really easy to talk to them 24/7) and because my OFtM account is in enough credit to cover even their silliest amount they advised me to cancel the DD instruction. Foxglove Energy then tried to reinstate it and FD blocked it a wrote to them telling them they considered this attempted fraud and not to do it again. I also have a guarantee in writing that if OFtM try to charge me £25 FD will refund me. However, as I say, I wouldn't cancel it without talking to your bank about it.

paters

I don't think cancelling the DD is a good idea as they can charge £25 for late payments and it will take longer to get a refund if you are in credit.


If you believe OTM have made a mistake with their DD calculation (say they've used the wrong estimated usage or haven't taken into account your credit balance) or the increase will cause you financial difficulty, then email OTM to tell them and ask them to revise the DD. You'll need to give them enough time, say a week, to respond.


If they don't respond, on the day the DD goes out contact your bank to recall it under the DD guarantee explaining the problem and you've not had a response from OTM. At least that way you'll have something to go back on if OTM try to charge you the £25 and your DD mandate will still be in place to get a credit refund.

want_to_save

gave opening reading to new company today

michaels

Somehow they put me on a very high monthly membership so the latest standing charge fee structure actually means less of an increase for me than the one previously announced....

And even at the new higher rate they actually remain pretty competitive against what else is available to me.

So yes their comms was carp and no doubt has generated a level of cs they are not resourced to cope with but for me the pricing has never been unreasonable and I am not sure paying more in winter and less in summer is any harder to manage if you can budget, the total annual spend is the same.

paters

michaels, are you sure OTM will still be competitive in a months time though? Looking at the way they've been increasing their prices lately and this DD debacle. Also, with the amount of uncertainty in the energy market - small suppliers going bust and how this price cap will work out. I think the best bet in the long-run would be switch to a fixed deal with a reputable supplier.



I'm in the process of switching from the OTM low user variable tariff to a fixed deal with First Utility. For me, when I started the switch a couple of weeks back, First Utility were about £50 (before cashback) per year more expensive than OTM. Now with the OTM January price rise First Utility are already £80 cheaper.

C.C.

Those of you who are in the process of leaving OFTM, please will you keep the rest of us updated on how smoothly, or not, this goes?

Much as I would like to leave them (and I started then cancelled a switch), their totally erratic DD increases, amongst other things, leads me to fear that a switchover now could easily turn very messy. I guess I am a just coward!