My account is over £1200 in credit, but when I have applied for a refund online I'm being told I can't do this until further metre readings and the next statement. This isn't legal - anyone else had this problem?
Best answer by Darran_OVO
View originalThank you. But this is something I am aware of. I simply want to pay what owe and I will manage my own money to ensure I have enough in the winter - I have decided I want that money sitting in my account not Ovo’s.
In that case, we’d recommend reaching out to our Support Team, who can help get your Direct Debit arrangement cancelled and confirm any change to your rates as a result.
You’ll then be able to make manual online payments following each monthly bill, see the guide below for more details:
Hope this helps work out the best option for you going forward.
Unless you desperately need the money, leaving it with OVO is actually quite a good idea. Not many places are paying 5% interest at the moment...
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Unless you desperately need the money, leaving it with OVO is actually quite a good idea. Not many places are paying 5% interest at the moment...
Just so anyone reading this knows.
This is referring to the OVO interest reward.
Interest is payable on credit balances up to £1000 for customers that joined prior to 27th September last year.
This is worrying as an OVO customer.
As each month my balance is getting more and more positive, can I every month request a refund as you dont give me the option of changing my DD to a more sensible amount, indeed you keep bumping it up!! If all customers do so, im sure OVO would get the message and stop over charging people each month….
Thank you. But this is something I am aware of. I simply want to pay what owe and I will manage my own money to ensure I have enough in the winter - I have decided I want that money sitting in my account not Ovo’s.
I completely agree!
Hey
Thank you for your great question.
You can request a refund of up to £500 through your online account at any point as long as the following are met:
Have been billed within the last 28 days to an actual reading
Have an active Direct Debit with at least one payment received from that bank account
Request a refund of over £5
Request a refund up to £500
Leave a remaining balance of at least one month's Direct Debit
If you would like more refunded you can contact Support who can refund up to £2,000 as long as they either have a smart meter reading, or if you want over £599 refunded and have a traditional meter, you may need to send in a photo.
Check out these helpful guides that explain how we review direct debits and how you can use the direct debit calculator on your online account.
Hope this helps.
Thank you.
After speaking to work colleagues, apparently British gas can bill you quarterly for energy used, I think I'm going to change to them as I like to be in control of my usage and finances.
Have been waiting over 4 months for a refund.
The balance showing by OVO is 506.54 after the reply I was just directed again to a phone number.
Hi
You should be able to request a refund of £499 without having to call. If you’re on a fixed plan, that’s £499 whilst leaving one month’s payment amount in there as credit. If you’re on Simpler, you don’t need any credit in the account.
For a bigger refund than £499, we might need meter photos and an up to date reading. Why not just submit a request for £499 and request another refund next week?
I have nearly 600 in credit and they've only just let me reduce my energy DD from 241 to 186! I am only entitled to a refund of 37! how is this fair?
Hey
That does sound frustrating.
Customers should be able to initiate refunds via the Online Account for up to £500.
But you must match the following criteria to request a refund online:
Are you getting an error message appear?
We’ve got a great guide here you might find helpful.
Hope this helps.
I fit all of these things and it's still telling me I can't get more than £37! Just not fair at all.
I'm £1004.84 in credit I've requested a refund and I'm only allowed an £80 refund even though my monthly energy usage is only £96 and my direct debit is £308 per month which was increased by OVO from £206 I'd like to know why the hell this company feels that my money belongs to them going to take this up with my local MP and the energy ombudsmen
Absolutely appalled
The same question on this direct debit scheme is being asked all over the country. The government needs to step in soon to stop this “legal” banking of our money by OVO and other energy providers.
Hey
Sorry for the issues you’re having,
OVO allows customers to initiate refunds via their Online Accounts leaving 3 months worth of direct debit as credit in their account.
If you contact Support you can get the entirety of your credit refunded, leaving one months direct debit as credit in the account. This is because you pay monthly, in advance. We have a guide on this topic:
If you’re building up surplus credit on your account, you should be able to reduce your direct debit via your online account, this will also allow you to initiate a larger refund.
We understand that direct debit’s aren’t for everyone
Hope this helps.
Hey
Sorry for the issues you’re having,
OVO allows customers to initiate refunds via their Online Accounts leaving 3 months worth of direct debit as credit in their account.
If you contact Support you can get the entirety of your credit refunded, leaving one months direct debit as credit in the account. This is because you pay monthly, in advance. We have a guide on this topic:
If you’re building up surplus credit on your account, you should be able to reduce your direct debit via your online account, this will also allow you to initiate a larger refund.
We understand that direct debit’s aren’t for everyone
Hope this helps.
Can this simpler variable on demand plan be setup on your online account page?
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Hey
Sorry for the issues you’re having,
OVO allows customers to initiate refunds via their Online Accounts leaving 3 months worth of direct debit as credit in their account.
If you contact Support you can get the entirety of your credit refunded, leaving one months direct debit as credit in the account. This is because you pay monthly, in advance. We have a guide on this topic:
If you’re building up surplus credit on your account, you should be able to reduce your direct debit via your online account, this will also allow you to initiate a larger refund.
We understand that direct debit’s aren’t for everyone
Hope this helps.
Can this simpler variable on demand plan be setup on your online account page?
I would recommend phoning up and getting ovo to talk you through the implications.
The unit rate and standing charge is more expensive if you pay on demand rather than by direct debit. So you would end up paying more over a year.
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We still aren’t able to look up the different rates online are we
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We still aren’t able to look up the different rates online are we
Unfortunately not on the OVO website.
Although we could sign post other data sources on Energy Price Guarantee, to be certain of the exact ovo rates it would be better to call i think.
Honestly, i doubt there are many people that should be encouraged to switch given it will cost more.
We still aren’t able to look up the different rates online are we
Unfortunately not on the OVO website.
Although we could sign post other data sources on Energy Price Guarantee, to be certain of the exact ovo rates it would be better to call i think.
Honestly, i doubt there are many people that should be encouraged to switch given it will cost more.
How do you figure that out? If I could pay what I was actually due every month even with a 10% increase on my tariff I would have the £285.00 OVO have taken from me in my bank account at this moment.
As stated, I’m £285.00 in credit at the moment. Here is the rub though, my contract ends in early May, yet the direct debit and credit is worked out on a 12 month period from now. on each month. It just goes on and on. That means I get a debit every month from my bank account that bears no relation to my actual use and this amount gets added to the credit.
Effectively this means that the credit I/we accrue never actually gets used to pay the bill. It’s only there as a financial safety net for OVO to use if me and thousands of other customers like me default on their payment. Rather than let market forces dictate what happens in an open market - The goverment have done this to prevent any more suppliers going bust. The consumer has been made to pay into this safety net to safeguard against closures.
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Ah
As regards the apparent rolling 12 months, well that does seem wrong.
What are the benefits of the contracted rates? Without knowing the difference how would anyone know if it was a good option?
I moved from scottish power and paid quartely. When I signed up there was no other option offered for paying your monthly bill.
Email just came in to me as I was writing this about the January 2023 price increase!
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