Setting up and editing your Direct Debit

How do I set up a Direct Debit?

Usually when you join OVO you’ll set up a Direct Debit as part of the switching process. Even if you’re on a monthly payment plan, you may have chosen to pay by cash, cheque or postal order in arrears. 

If you pay in arrears 

If you’ve currently arranged to pay for your OVO gas and electricity in arrears and you’d now like to switch to paying by Direct Debit, we can help.

Payment in arrears means paying for energy after you’ve used it, by cash (by cash we mean paying via paying-in slip at your bank), cheque or postal order. You may be happy with this payment method, but it does have disadvantages. To start with, you can’t get our Self Service Reward – a saving of up to £60 a year. What’s more, making your payment is another thing to remember and worry about every month.

If that’s you, and you’d prefer the convenience of an automatic payment, we can help you set up a Direct Debit. Just call us on 0330 303 5063 and we’ll get it under way.

It’s also possible to set up a Direct Debit by post, or by email. Drop us a line – including your account number – and we’ll get back to you ASAP with next steps.

By email:
hello@ovoenergy.com

By post:
OVO Energy
1 Rivergate
Temple Quay
Bristol
BS1 6ED

You’re also welcome to drop into our office for a coffee, and we can sort it out face to face.
 

How to change your Direct Debit amount

When you first sign up for an OVO account, we’ll estimate how much energy you’ll use based on what you tell us – then divide the cost by 12. This gives us your Direct Debit amount. If you end up using more – or less – we’ll get in touch and ask to decrease or increase your payment.

However, you might want us to change the amount if something changes at home; if you’ve had an extension built, for example. It’s quick and easy to change Direct Debit amounts if you’d like to increase your payment in readiness for potentially larger bills, this can be done through My OVO. 

If you’d like to reduce your Direct Debit payment, it’s a little more complicated. We’ll need to take a look at the status of your account and have a chat about why you want to make a reduction. If it looks like a smaller payment will cover the energy you’ll use, then of course we’ll make the change.

It’s worth bearing in mind that you may build up a credit balance over the summer months – a good thing, we think. This’ll help to pay for your future energy costs when you use more over the winter – and you’ll also get our 3% OVO Interest Reward (rising to 5% in year 3) on any credit you’ve got.

In both cases, you’ll need to give us a call on 0330 303 5063 or our landline number 01179 303 100 to change your Direct Debit amount.

Remember, to be eligible for the Self Service Reward, you’ll need to pay your Direct Debit on time and at least the recommended amount (or more) each month.
 

How to change Direct Debit payment details

You can change your bank account details in My OVO on the My Profile page. You’ll need to do it at least 8 days before your next payment, though.

It’s also quick and easy to change the date the payment is taken, but you’ll need to call one of the numbers above to do that.
 

What happens if I cancel the Direct Debit at my bank?

If you cancel your Direct Debit, we’ll ask you to find another way to pay for the energy you use.

One of the ways we keep our prices down is by encouraging Direct Debit payments, so we’d appreciate it if you choose this payment method.

If you choose not to pay by Direct Debit and don’t find another way to pay for your energy use, we may have to take steps to collect the money you owe us.

If you’re on a fixed rate, All Online plan and you cancel your Direct Debit, you will not be eligible for the Self Service Reward until you have a Direct Debit set up again.