Why in UK the DD amount is constant figure?

GunJack

agentcain said:

GunJack said:

agentcain said:

 and at the end of the year or even better on April, after winter's done, any balance could be returned in whole automatically.

Why?? If I am staying with the same supplier, why would I want my credit balance returned? I personally like having a credit balance to allow for unexpected consumption, supplier going under, or any other reason I can think of.

I have to go through this every 6 months when my water company produce a bill - reduce DD to stupid level automatically just because  I have a credit balance. I have to phone them just after every bill is produced to reinstate my DD to what I want it to be, and it's a right nause having to do that.

Stop trying to penalise those of us who run our accounts just fine...

There can be always the choice for you not to receive the refund. If you want to keep your supplier well funded that's your choice.
I would argue that those who can pay exactly what they owe are more able than people like yourself who rely on buffers to pay their expenses.

How's the extra balance help you in any way with the supplier going under? 

bit of a statement...I had already stated in an earlier post that I could quite easily do VDD if I so chose to do so .... I certainly don't rely on buffers, I choose to do it out of convenience.

It works for instance, when I had a water leak and still didn't owe the water company anything after the increased consumption due to said leak, or a couple of years ago in a colder than normal winter where I could whack the heating up way more than I would normally, and still finished winter in credit. OK, so maybe I'm better off than a lot of people and have the luxury of paying for my utilities as I see fit within the rules.

I run my utilities in credit as I can very easily afford to do so, and it's my choice

Alnat1

You can only set up regular standing orders on current accounts and not many of those pay interest. With the money in a savings account you would have to remember to do a manual transfer each month.

Section62

Alnat1 said:

You can only set up regular standing orders on current accounts and not many of those pay interest. With the money in a savings account you would have to remember to do a manual transfer each month.

There are some savings accounts which allow future dated payments or recurring payments to be set up, either of which would avoid the need to remember to do a manual transfer each month.

There's no fundamental reason why a savings account can't be used for SO's - it is simply down to the T&C's for individual accounts as to whether or not the facility is available.