Switch From DD to SO!

housebug

If, like us, you're tired of Direct Debit payments being taken from your account as much as a week ahead of the payment date you specify, switch where you can to Standing Order instead. The banks have no say over when a DD can be honoured. They simply forward payment whenever the payee requests it.

Standing Orders however cannot be dispersed before the date given. More control of your money!

Beware; some service providers, esp utilities companies, offer discounts if you pay by DD. They may try to talk you out of switching to SOs by telling you you will lose your discount. Don't listen to them. Tell them they have no right to dictate to you how you pay them, so long as they are paid in a timely manner. You have every right to their discount. You can threaten back by saying you'll drop them and go to another supplier. In most cases, they are willing to negotiate.

Fedz

Good idea

I thought DD had to be taken on or after (not before) the date you agreed too?
eg: 1st of every month or 16th of every month.

AFAIK, under direct debit guarantee you can claim any costs incurred because of the early payment of DD's you didn't agree too!

Please correct me if I'm wrong

phil-99

housebug wrote:

If, like us, you're tired of Direct Debit payments being taken from your account as much as a week ahead of the payment date you specify, switch where you can to Standing Order instead. The banks have no say over when a DD can be honoured. They simply forward payment whenever the payee requests it.

If the DD is taken before the due date, use the DD guarantee to get the money back from your bank. It's that simple. DDs MUST be taken on or after the date specified and for the amount that you were invoiced for in advance by the period specified in your agreement.

Joe_Bloggs

@Housebug
Is there a ruling/site somewhere that states this right for the consumer ?
I was duped into paying a gas bill that was several years gas supply (£110). My supplier will only issue a dual fuel discount on the gas bill. I have changed from standing order to direct debit for gas and electricity for an extra £50 rebate. They will only pay this when I actually get a gas bill where I owe them something. This surely is creative accountancy on their part.
J_B. ( An EDF energy victim. )