Referral offers - can you take the credit then change supplier after a month?

dan852k4

Is this possible or do firms stipulate you have to remain with them for x amount of time otherwise the referral credit is forfeited?

Just wondering as it could be possible to get free power by taking advantage of all referral offers available. 

7Phil

The exact terms will be outlined in their Ts&Cs, so the policy could differ between suppliers. Remember there can be exit fees that might eat any credit you get. Plus it takes 3 weeks to switch each go.
If there is nothing written about time limits, fees or forfeiture then you can assume you can move and keep the money whenever you leave. Suppliers generally bank on people not doing that frequently and I doubt there are enough referral offers available that you could do it for very long.

tk47

dan852k4 said:

Is this possible or do firms stipulate you have to remain with them for x amount of time otherwise the referral credit is forfeited?

Just wondering as it could be possible to get free power by taking advantage of all referral offers available. 

It used to be possible to be an energy switching tart. In fact many MSEers at the time used to boast about it.
But most suppliers/cashback sites soon closed down that that loophole.

Now you need to refer to the terms of each deal. But generally, don't count on any cashback/bill credit until the benefit is in your bank account (and even then you might be asked for it back if the terms you agreed to allow for that)

Cashback usually takes 3-5 to be paid. Referral credits usually remain in your energy account until you close the account, unless you ask for it (and the supplier agrees to refund it) sooner.

If you pursuade enough others to take up your referral code, it may be possible to effectively get free energy. Some boast it is possible.
But the reality usually is that most suppliers who offer the cheapest deals cannot also afford to pay a combined £100 (or however much it might be) to welcome you as a customer.
So you soon run out of friends when they quickly realise what a poor tariff you referred them to.

bristolleedsfan

dan852k4 said:

Is this possible or do firms stipulate you have to remain with them for x amount of time otherwise the referral credit is forfeited?

Just wondering as it could be possible to get free power by taking advantage of all referral offers available. 

Most refer a friend energy offers have no exit penalties thus free to switch again after receiving switching switching bonus, some energy companies say have to wait 28 days before can switch again, most of these refer a friend offers do not allow another switch in with referral until 12 Months have lapsed since leaving.

Most allow referral credit to be withdrawn, Refer a friend T+C need to be checked as I know Tonik refer a friend terms state referral credit must be spent on energy.