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Do I have to have a Standing Order on a SVT?

RSTime
RSTime Posts: 130 Forumite
Third Anniversary 10 Posts Name Dropper
When on a fixed tariff the Ts&Cs obliged me to have a standing order. Now that I am on a standard variable tariff am I obliged to have a standing order or can I just pay my bills in full as they are generated? 

Comments

  • MWT
    MWT Posts: 10,968 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    I would guess you mean a Direct Debit, rather than a Standing Order, but no, even with a fixed tariff most suppliers will offer various different payment methods.
    The cheapest is usually Direct Debit, the most expensive is payment by cash/cheque upon receipt of bill.
    If you don't want to pay estimated monthly amounts in advance by Direct Debit, then the best alternative would usually be what most suppliers call a variable Direct Debit, which means they will send out your monthly bill and then take full payment for that bill, so as long as you have given them a meter reading, you will only pay for exactly what you have used each month.
    The only downside is that in winter the bills will usually be a lot higher than they are in summer, so you need to budget accordingly...
  • I think you mean Direct Debit.

    If you do not pay by that method your energy costs will be around 5 to 7% more expensive.

    Some companies offer DD Whole Amount so you only pay on receipt of the bill and with my supplier, EDF, you still retain the DD discount.
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