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My account is in debt - what options have I got?

  • 15 April 2017
  • 5 replies
  • 1320 views
D
Rank
Hi,

My usage has outdone your expectations a bit and so my account balance is currently negative. How long can it stay that way before I get in trouble?

Thanks!
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Best answer by Tim_OVO 3 May 2017, 17:50

Dear Ovo,



I am in the same situation as Dalmanly.



Thank you for your suggestion, it is useful!



It would be great to know, if there is an official deadline or date until the negative balance has to be cleared? It is just not mentioned anywhere, and I wouldn't like to get into trouble.



Thank you!



Bests,

Matyas



Hi Matyas,



This all depends on the tariff you've gone for. With a fixed contract, you need a Direct Debit set up, like Darran mentioned. We ask you to keep one month's credit in the account, so falling under this for any period of time might result in a Direct Debit review increase. With Simpler Energy, you don't need a Direct Debit, and you can sit pretty with £0 balance. If you do fall into debt, we'll let you know and give you options for how to clear it.



Hope this helps,

Tim
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5 replies

Darran_OVO
Userlevel 7
Hi dalmanly

Firstly, welcome to the forum! Thanks for posting your first question!

I thought I'd pick this up as we don't want you worrying unnecessarily.

If you are a Pay Monthly customer and have a direct debit in place which you are paying, you are not in trouble!! If you have used more energy than expected, you may want to visit My OVO on the website and increase your direct debit amount to make sure you don't end up increasing your negative balance.

Let us know if that helps, comment below if you need any further advice!

Thanks

Darran
Did a reply solve your question? Then mark it as the correct answer!
M
Dear Ovo,

I am in the same situation as Dalmanly.

Thank you for your suggestion, it is useful!

It would be great to know, if there is an official deadline or date until the negative balance has to be cleared? It is just not mentioned anywhere, and I wouldn't like to get into trouble.

Thank you!

Bests,
Matyas
Mattj3135
Rank
Userlevel 6
Dear Ovo,

I am in the same situation as Dalmanly.

Thank you for your suggestion, it is useful!

It would be great to know, if there is an official deadline or date until the negative balance has to be cleared? It is just not mentioned anywhere, and I wouldn't like to get into trouble.

Thank you!

Bests,
Matyas

Hi Matyas

If you're on prepayment meters the limit of a negative balance is £5.00. If you're on pay monthly there isn't an official limit - to cut off supply as a pay monthly customer OVO would need to install prepayment meters. If I'm not mistaken pay monthly are contractually obliged to be in credit, whereas a PAYG customer is only required top up a minimum of 1p.

@Tim_OVO @Darran_OVO or @Lucy_OVO is this right or am I way off the mark?
Tim_OVO
Rank
Userlevel 7
Dear Ovo,

I am in the same situation as Dalmanly.

Thank you for your suggestion, it is useful!

It would be great to know, if there is an official deadline or date until the negative balance has to be cleared? It is just not mentioned anywhere, and I wouldn't like to get into trouble.

Thank you!

Bests,
Matyas

Hi Matyas,

This all depends on the tariff you've gone for. With a fixed contract, you need a Direct Debit set up, like Darran mentioned. We ask you to keep one month's credit in the account, so falling under this for any period of time might result in a Direct Debit review increase. With Simpler Energy, you don't need a Direct Debit, and you can sit pretty with £0 balance. If you do fall into debt, we'll let you know and give you options for how to clear it.

Hope this helps,
Tim
Carbon neutral - we need a community to get there!
M
Rank
debt antagonism may be limiting convntional understanding that the increaseable tariff is better as a levy to misforunate customers.
I am a new smart resident reducing a startup debt. The nice tariffs are still untenable for the one to pay a debt concurrently has sadly, only in my circumstances, no figuring. Concealment!

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