Refer a friend loophole

Jyana

Yeah, I did feel a bit awkward leaving after only 5 months or so, especially as that wasn't my initial intention when I switched to them. My concerns with the market during summer 2021 was really the only reason why, and if they could have offered a longer term projection of my prices at the time I would have stayed. I'm one of those risk adverse customers though, and felt I needed to fix rather gamble at that point. 

I was surprised there wasn't any conditions on paying back any part of it for leaving so soon. And wouldn't be surprised if companies introduced something into their terms and conditions, similar to how banks have with their switch rewards offers, such as you can't claim again before a set date or need to do certain steps to qualify.

mac.d

TheElectricCow said:

Just to add to the info in the thread so far, my Octopus referral payment was credited to my account 4 days (2 working days though) after the first direct debit payment cleared. Worth noting that in practice this actually took a little over a month since switching due to how the billing cycles happened to fall, but the credit was granted well before my first bill had been generated at least. In my case this was still pretty much spot on for the usual timeframe they suggest in their FAQs, so it seems there could be some variation in the exact payout timeframe.

Mine was also four days after my first direct debit.

Mstty

mac.d said:

TheElectricCow said:

Just to add to the info in the thread so far, my Octopus referral payment was credited to my account 4 days (2 working days though) after the first direct debit payment cleared. Worth noting that in practice this actually took a little over a month since switching due to how the billing cycles happened to fall, but the credit was granted well before my first bill had been generated at least. In my case this was still pretty much spot on for the usual timeframe they suggest in their FAQs, so it seems there could be some variation in the exact payout timeframe.

Mine was also four days after my first direct debit.

Amazing it is only Dolor then so far that didn't get paid quickly so that seems to be the anomaly and within 4 days of first payment no matter how much appears to be the norm.

Thanks for this👍

michaels

Do companies perform a credit check on switching? One to think about in terms of credit score / remortgaging etc?

TheElectricCow

michaels said:

Do companies perform a credit check on switching? One to think about in terms of credit score / remortgaging etc?

None as far as I’m aware, unless perhaps the switch involves going from prepayment to a regular credit meter. Don’t think I even provided enough information for Octopus to run a check for my switch, all they wanted was some basic contact info and details of the supply I wanted to switch.

Alnat1

I moved to Octopus in April and set up a variable DD. I realised because of solar export payments that my account would probably be in credit until winter so I made a manual payment of £1 on 25th May. Within a couple of hours me and my referral friend had emails saying the £50 would be credited and it was, the same day.