Do you find it hard to manage your monthly payments? Do you keep on missing payment dates and suffer from fees and penalties? If you are, then you don’t have to worry anymore. You can now consider paying your electricity bills and other utility bills through Direct Debit. This payment system is safe, convenient, and reliable thus you can be assured that your monthly bills are always taken care of.
If you consider this payment system, your supplier will collect regular payments from your personal bank account. The amount collected will be according to the estimate of your annual energy consumption. The annual energy consumption is typically divided into twelve equal payments. Using this payment method will enable you to manage your monthly payments properly without worrying about missing payment schedules.
Issues To Consider When Using Direct Debit
A number of people consider Direct Debit as the cheapest method of paying energy bills since many suppliers can provide discounts when this payment method is selected. The discounts will eventually lead to more savings in the long run. However, before you provide an instruction to your bank to authorise certain business or individual to collect money from your account, you must first address certain issues.
As mentioned earlier, the amount collected for your electricity bills is based on an estimate of your yearly energy consumption which is then divided into twelve payments. To ensure that you are paying within a good amount range, you must check your estimated consumption, and compare it with your actual meter readings. This will help you determine if you are over-paying or under-paying your electricity bills. The supplier must also review your electricity bills and consumption at least once a year to make sure that you are not paying too much or not enough.
DD Guarantee: Your Protection When Paying By Direct Debit
When you use this payment method, you have to make sure that your energy supplier sets a fair amount based on the actual amount of your energy consumption. The supplier must also explain how they came up with your Direct Debit figure. You must also be refunded with any credits which you have built up when you ask your supplier. In addition to all these, you are also protected and covered by the Direct Debit guarantee. This means that the supplier must inform you at least ten days before the money is collected from your account.
Direct Debit is the preferred method of payment by over half of the UK's bill-paying population for making one off, regular or ad-hoc payments. Direct Debit collection is more popular than payment by cheques, cash, credit and debit cards. Visit our website for more info: http://www.smartdebit.co.uk/
Simple Guide To Paying Electricity By Direct Debit