Symbio Energy feedback

niktheguru

WBCPB said:

niktheguru said:

WBCPB said:

Is there an android app for this mob, i cannot find it in my google play store?
Regards

yes, there is. Its under the name "symbio energy", not surprisingly!

And you think i did not search for that, i only get a business app and am being told " this app is not available for your device" (Samsung J5 2017 )
Regards

Thats the app. It works on my android phone. (samsung note 20 ultra) To be fair i only used it to submit meter readings. Its not a particularly amazing app.

niktheguru

spot1034 said:

Of-course all this assumes the surplus will be easily retrievable if you decide to move on. Perhaps that is the biggest unknown factor in all this. 

Or perhaps, the biggest known factor given current performance that.....
1. It will take ages to get your final bill
2. It will take ages to get your credit balance back

I'd warn people not to get taken by the 5% bait and to actually stick to a fixed direct debit and stay as close to break even as possible to avoid heartache.

comeandgo

When I read the email my first thought was the banks have stopped giving them any more loans and they are now trying to get money from their customers with the sweetener of 5 % but if they go bust the customers will have lost all their extra payments.  I’ve decided to stay as is, supplying my reading at month end.

violetta

I have chosen 'reject' and had the acknowledgement email in return, but yesterday's email from Symbio does say that as soon as anyone's fixed tariff comes to an end (or their variable rate disappears and is replaced by a differently named variable rate, which seems to happen every three months or so) then on renewal the new system of billing will automatically kick in with no option to reject it and stick with the current method. 

spot1034

niktheguru said:

spot1034 said:

Of-course all this assumes the surplus will be easily retrievable if you decide to move on. Perhaps that is the biggest unknown factor in all this. 

Or perhaps, the biggest known factor given current performance that.....
1. It will take ages to get your final bill
2. It will take ages to get your credit balance back

I'd warn people not to get taken by the 5% bait and to actually stick to a fixed direct debit and stay as close to break even as possible to avoid heartache.

That, of-course, will only work as long as your existing fix lasts. 

'At renewal, all customers will be on the new billing system.'                                                                                                                               

niktheguru

spot1034 said:

niktheguru said:

spot1034 said:

Of-course all this assumes the surplus will be easily retrievable if you decide to move on. Perhaps that is the biggest unknown factor in all this. 

Or perhaps, the biggest known factor given current performance that.....
1. It will take ages to get your final bill
2. It will take ages to get your credit balance back

I'd warn people not to get taken by the 5% bait and to actually stick to a fixed direct debit and stay as close to break even as possible to avoid heartache.

That, of-course, will only work as long as your existing fix lasts. 

'At renewal, all customers will be on the new billing system.'                                                                                                                               

Of course, when its compulsary its compulsory. But given the option, I wouldn't take it.

I was with a supplier called eversmart who had introduced a similar "pay in advance and we'll pay you interest" scheme, they went bust very soon after......

CRISPIANNE3

niktheguru said:

spot1034 said:

niktheguru said:

spot1034 said:

Of-course all this assumes the surplus will be easily retrievable if you decide to move on. Perhaps that is the biggest unknown factor in all this. 

Or perhaps, the biggest known factor given current performance that.....
1. It will take ages to get your final bill
2. It will take ages to get your credit balance back

I'd warn people not to get taken by the 5% bait and to actually stick to a fixed direct debit and stay as close to break even as possible to avoid heartache.

That, of-course, will only work as long as your existing fix lasts. 

'At renewal, all customers will be on the new billing system.'                                                                                                                               

Of course, when its compulsary its compulsory. But given the option, I wouldn't take it.

I was with a supplier called eversmart who had introduced a similar "pay in advance and we'll pay you interest" scheme, they went bust very soon after......

I was with Eversmart and got out just before they went bust. However they did pay me my £20 loyalty bonus with no hassle. 

Swipe

I'm due to move house at least by the end of summer and have rejected it to stay on my fixed DD. I wonder if they have their money in an Indian bank that is paying well over 5%? Maybe this is why they over estimate everyone's bill to get more interest on their money?

spot1034

Just out of interest I've been looking at comparison sites, and it seems to me that Symbio have done nothing to cut down on the confusion which leads to so many disgruntled customers. These sites give the actual monthly cost of a tariff based on the unit price and standing charge. Most punters will make a decision based on that. Then they will find that the actual sum to be taken from their bank account each month is 30% extra plus a bit more in winter, and 30% extra minus a bit in summer. It shouldn't be too surprising that this generates a few complaints.

spot1034

comeandgo said:

When I read the email my first thought was the banks have stopped giving them any more loans and they are now trying to get money from their customers with the sweetener of 5 % but if they go bust the customers will have lost all their extra payments.  I’ve decided to stay as is, supplying my reading at month end.

The email says interest payments will be calculated on a monthly simple interest basis. I take that to mean that the interest will be added to accounts each month. If the interest was to be added once a year it would presumably be an annual simple interest rate. 

Any extra payment made by the customer would be protected in the event of the company going bust so that shouldn't be too much of a concern beyond the usual frustrations caused by the SOLR process.