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. To get things under way, call us on 0330 303 5063 or send us an email (or a letter) including your account number. We'll then send you a Direct Debit mandate form which you'll need to fill out and sign by hand.
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.
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