So will Octopus keep to their word and start communicating with customers today?

Chrysalis

oliverbrown said:

After my Direct Debit leaves my bank account, it sits as "pending" on Octopus for a few days too. Octopus are a little nostalgic for cheques maybe.

Checked my last 30 months, 28 were credited on the 15th, one was credited on the 19th, and one is yet to be credited on the 20th, so I am right it has been practically non existent for me hence me thinking it was odd.

oliverbrown

Chrysalis said:

oliverbrown said:

After my Direct Debit leaves my bank account, it sits as "pending" on Octopus for a few days too. Octopus are a little nostalgic for cheques maybe.

Checked my last 30 months, 28 were credited on the 15th, one was credited on the 19th, and one is yet to be credited on the 20th, so I am right it has been practically non existent for me hence me thinking it was odd.

If you look back on the balance history then a payment which leaves your bank on the 1st will show up has been credited on the 1st. If you had checked on the 3rd though, it would most likely have said "pending", even if they were both in the middle of the working week.

MWT

oliverbrown said:

After my Direct Debit leaves my bank account, it sits as "pending" on Octopus for a few days too. Octopus are a little nostalgic for cheques maybe.

DD batch processing is a little different to other payment methods, the instructions to debit the customers and credit the supplier are processed simultaneously, but at that point it is possible that a customer's account may contain insufficient funds, so there is a period of 3 working days following the payment date where the customer's bank can return the DD unpaid and recover the funds from the supplier's account.

So it is not until the 4th working day after the money left the customer's account that the supplier can be sure the customer did actually have the funds to make the payment.

This is why there is usually a delay before applying the payment to the account.

Chrysalis

oliverbrown said:

Chrysalis said:

oliverbrown said:

After my Direct Debit leaves my bank account, it sits as "pending" on Octopus for a few days too. Octopus are a little nostalgic for cheques maybe.

Checked my last 30 months, 28 were credited on the 15th, one was credited on the 19th, and one is yet to be credited on the 20th, so I am right it has been practically non existent for me hence me thinking it was odd.

If you look back on the balance history then a payment which leaves your bank on the 1st will show up has been credited on the 1st. If you had checked on the 3rd though, it would most likely have said "pending", even if they were both in the middle of the working week.

I did think that until I came across the one that was credited on the 19th.

In 4 of the last 5 months I been checking on the 16th, and was credited.

The money is leaving my account in the 12th according to my bank statement.

bristolleedsfan

MWT said:

oliverbrown said:

After my Direct Debit leaves my bank account, it sits as "pending" on Octopus for a few days too. Octopus are a little nostalgic for cheques maybe.

DD batch processing is a little different to other payment methods, the instructions to debit the customers and credit the supplier are processed simultaneously, but at that point it is possible that a customer's account may contain insufficient funds, so there is a period of 3 working days following the payment date where the customer's bank can return the DD unpaid and recover the funds from the supplier's account.

So it is not until the 4th working day after the money left the customer's account that the supplier can be sure the customer did actually have the funds to make the payment.

This is why there is usually a delay before applying the payment to the account.

Your detailed explanation refers to "supplier" this is supplier specific to Octopus Energy and suppliers that use or will in future use Kraken billing system.

When I was with other large suppliers account was credited on direct debit payment date which is probably why others who had similar experiences with other suppliers are commenting as they have been.

wakeupalarm

Why isn't Octopus Energy releasing a table of the EPG tariffs for all regions like EDF have done?

bristolleedsfan

Spies said:

wakeupalarm said:

Why isn't Octopus Energy releasing a table of the EPG tariffs for all regions like EDF have done?

What's the point other than making you a little green (with envy)?

Might reduce number of communications Octopus are getting - example

https://twitter.com/JenniFrance/status/1571865601366282241

"is anyone able to reply to my message or email please? I have to make a decision regarding Agile Octopus tomorrow but would like to know the new Standard Variable and Eco 7 rates that would apply before I do"

Spies

She doesn't NEED to know by tomorrow though, Octopus literally replied and said she can change any time.

People are just impatient 

woolythoughts

Sterlingtimes said:

The fiddling by Octopus of day and night tariffs makes Economy 7 a no go. I have asked to be moved onto standard.

I was placed on Economy 7 by default when I was expelled from Go for not having an electric car.

Hi

Why did you get expelled?  We had one then sold it and make the most of the cheap rate by running the washer, dish washer and drier overnight.........  Just wondering how they knew you didn't have a car.

Spies

woolythoughts said:

Sterlingtimes said:

The fiddling by Octopus of day and night tariffs makes Economy 7 a no go. I have asked to be moved onto standard.

I was placed on Economy 7 by default when I was expelled from Go for not having an electric car.

Hi

Why did you get expelled?  We had one then sold it and make the most of the cheap rate by running the washer, dish washer and drier overnight.........  Just wondering how they knew you didn't have a car.

They would ask you to provide a registration document to verify you own an EV I would guess!