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another question on credit depletion

  • 18 September 2022
  • 9 replies
  • 121 views

Userlevel 1

 

Hi All, 

 

After reading Jk62 question (sorry I do not know how to link their question here) about if you are in credit, the amount goes down in real time (if you have a smart meter).

 

Does this mean we're paying twice to Ovo? Once on each day and then when your bill day is. 

 

I was wondering why I was struggling to get my head around the online billing system. I just couldn't find the right phrase to match.

 

Also, does anyone know what happens if you have no amount in the account. Do you get in trouble if you go to, say minus figures. 

 

I have read the online help guides but they don't seem to address these issues specifically.

 

When I called the Support Team over a week ago, they said if I go to 'traditional' billing like pay on receipt, I could not pay by Direct Debit then. Back to paying balance up in full.

 

I would phone but Ovo is closed on Monday due to HM Queen's funeral. 

 

Best Wishes,

youngeru2 

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Best answer by juliamc 18 September 2022, 09:48

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9 replies

Userlevel 6
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No, you’re not paying twice.

If you have a Direct Debit agreement you have a float of money held in your OVO account. You keep it topped up, and OVO supply your electricity and gas.

Every month OVO will calculate the amount you’ve used that month, then produce a bill for that month. If you have a DD agreement they take the money from the float, if you don’t have a DD they’ll send you a bill, which you have to pay within a few days (poss 14 ? not sure).

The balance you see on your online account is an indiction of what’s in the float:

If you pay by DD the balance will increase when that’s paid (every month automatically by your bank), and every day will decrease by the amount of the charges for that day.

If you pay on receipt of the bill your balance will show as negative until you pay the bill.

Userlevel 1

 

Thanks for that @juliamc 

 

I still finding it quite a difficult change.

 

Anyone know if Ovo takes into account the money in the float before billing and what happens say you go into minus figures. 

 

Sorry for asking again. 

 

youngeru2

Userlevel 6
Badge +1

There are two answers to this - depending whether you pay on receipt of bill or you have a DD agreement,

You would only go into minus if you pay on receipt of the bill, and then you must pay it !! If you paid too much there would be a balance (or float) of the extra you paid. In that case the float would go towards you next bill.

If you have a DD agreement then the float would not go into minus, as the DD agreement would allow OVO to take money from your bank each month.

Userlevel 3

Hey @youngeru2,

 

Welcome to the OVO Online Community. 

 

Great to see our community members giving some tip-top advice here.

 

We have a live billing system which means that if you have a smart meter, that sends daily readings, your account balance will change every day according to your usage. This means that through the month you are able to check what you are using and how healthy your account balance it.

 

You then get a monthly statement which is an overview of the month, how much energy you’ve used and how much it’s cost.

 

We have a really great guide here you might find helpful:

 

 

If you don’t find the live billing useful, you could wait until you get your statement each month and check your usage there. 

 

Hope this helps. 

Userlevel 1

If you have a DD agreement then the float would not go into minus, as the DD agreement would allow OVO to take money from your bank each month.

 

I have the DD arrangement. Does anyone know how much Ovo could take out from my bank? 

 

 

 

 

thanks, 

youngeru2

Userlevel 1

Hey @youngeru2,

 

Welcome to the OVO Online Community. 

 

We have a really great guide here you might find helpful:

 

 

If you don’t find the live billing useful, you could wait until you get your statement each month and check your usage there. 

 

Hope this helps. 

 

I have read the help guide page that @Emmanuelle_OVO@Emmanuelle_OVO has kindly linked but it doesn't answer my points either or stick in my head. 

Userlevel 1

I'm a new customer with mental health challenges so find change really difficult, hard to follow ideas through. 

 

I'm still not getting how Ovo bills customers.

 

 

thanks, 

youngeru2 

Userlevel 6
Badge +1

Hi @youngeru2  if you’re looking at your OVO account on the OVO app touch on the word Payments at the bottom of your screen. That should show  Today’s Balance and a bit further down the screen it’ll show the Direct Debit amount, and the date it’s taken each month. 

Userlevel 3

Hey @youngeru2,

 

I’m sorry to hear that.

 

Have you heard of the Priority Services Register? It’s a completely free and offers a number of additional services including different bill formatting if that is something of interest to you. 

 

You can apply here

 

Hope this helps. 

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