Green.Energy - 10% extra on top ups - *Extended 1st Feb*

Motorheadman

I presume this is only for pre-paid meters?

If not, what's the link on their website to this offer?

The money won't be protected I guess (unlike FSCS), and you'll be reliant on OFGEM helping the money recovery as you can't pay in and withdraw the funds. Also I don't see how they could offer such a high interest rate, has to be a catch...  ?

[Deleted User]

The offer was for credit meters. It has expired now, they did it a couple of times on a Monday so you just need to look out for the emails promoting the offer for next time. 

Some people have withdrawn no problem, I’ve decided to leave the money with them. 

There is no catch, we were worried when the offer first came about but they have honoured everything as stated so can’t see any problems now. 

They aren’t offering interest as such, they are hoping you leave the money and effectively it becomes a discount on your future energy usage. I guess helps their cash flow which I guess in turn reduces their operating costs. 

It has worked for me, the bonus has stopped me switching to a less reputable supplier because I know think of my energy costs for the next year or so as 10% less than the stated tariff. 

dllive

Ive been with Green for 6 months. I see they offered this deal twice. Do they regularly offer this deal or has it only been twice? 

Ive subbed to this thread to hopefully I will be updated should they offer the deal again.

brewerdave

Still can't understand HOW they finance this offer (unless the vast majority of customers leave the money with them which seems daft !!)

Inigo_Montoya

brewerdave said:

Still can't understand HOW they finance this offer (unless the vast majority of customers leave the money with them which seems daft !!)

the only thing I can think of is that most people using this offer may actually use it just for topping up their account to prepay for their energy with no intention of withdrawing later

I also suspect most of their customers do not have 5K lying around at short notice they can chuck in just to max out the bonus like some people have done on this thread

As I felt a bit guilty about using the offer just to get a "free" £500 credit I have only asked for some of the 5K back & that has been processed without the loss of the £500 bonus
- as such I don't think what people on this thread have done can be a common occurrence - if it was they would remove the bonus

Im also kicking myself slightly for being overly cautious with the first bonus offer & just depositing £500 as at the time as the offer seemed far to good to be true - but then hindsight is a wonderful thing

The big issue now is whether to stay with them in the hope of more of these offers popping up or transfer away to a cheaper deal while cheaper deals are still available - however for me at least the only cheap fixed rate currently is with Symbio who by all accounts are a nighmare to deal with

fewkeste

Inigo_Montoya said:

brewerdave said:

Still can't understand HOW they finance this offer (unless the vast majority of customers leave the money with them which seems daft !!)

.....however for me at least the only cheap fixed rate currently is with Symbio who by all accounts are a nighmare to deal with

Yes Symbio are a nightmare. I subscribe to the MSE thread about them just to see what's happening and to justify my decision not to go with them some time ago after I researched the company and the directors.

Tafrock

I can confirm symbio are indeed a nightmare. I remember you fewkeste from my powershop days. I ditched powershop for symbio . You went to Yorkshire energy. I didn't hang around at symbio (around 7 months I think) before departing to green who I now duel fuel with 

fewkeste

Hi Tafrock, yes I joined Green in April after escaping from Scottish Power (the SOLR when Yorkshire Energy went under) and then was given the chance to participate in Green Monday. I pre-paid £1200 (a year's worth of electric for me) and I've just had the £120 credited to my account. I wonder if they're going to do it again? I'd certainly go for it again - 10% return on 60 days investment is great. However, I do keep in mind the old adage 'if it looks too good to be true.....' 

imaginary_80s

fewkeste said:

However, I do keep in mind the old adage 'if it looks too good to be true.....' 

Tell that to the £1000 in bonuses from Green sitting in my bank! 

Seriously though, as skeptical as I was, Green Mondays is the easiest money I've ever made.

Motorheadman

If they make the offer for customers not on pre-payment meters, please let us all know!