The end of the interest payment to help the customers pay the right amount through direct debit

Hey @SJM,

Sorry to hear this,

If you’re on a variable tariff you should be able to request all of the credit in your account. It might be worth contacting the support team via webchat. 

OK  @SJM see the post from @Emmanuelle_OVO 

If you try again and they refuse again, then post another update.

Obviously I don't know why they have refused you, but on the face of it OVO need to stop this behavior

@Jeffus what do you mean they refused me? I asked for the maximum and its being sent to me, in fact it’s already now in my bank account. No refusal invloved. What I cant get is anything above the maximum because, wait for it, it’s the maximum. It means that people who had more than the maximum in credit cant get to zero as their account will still be in credit which makes a mockery of the whole idea of zero balance.

There is no maximum, you should be able to ask for all your credit back as @Emmanuelle_OVO said.

You should be able to have zero credit. That is the rule.

That has always been the case.

There’s maximum, and then there’s maximum. One is the highest amount you can request bearing in mind the rules about not emptying the account unless there’s a DD in place. The other is an absolute figure, I think £2000, that a support agent can handle. More than that needs higher authority. 

There’s no ‘maximum in credit’ - you can keep as much as you like in your account. OVO would probably raise an eyebrow, though, if the credit balance appeared excessive, and urge you to reduce it.

I think it’s stretching it a bit to expect that you could request a refund of more than the current credit balance on the grounds that upcoming DDs will wipe out the deficit. Perhaps this isn’t what SJM meant ...

What’s your source? There is a maximum as I was informed that £1500 is the maximum by the call handler that you can request when I asked for it. There’s two things going on here, firstly prior to this new regualtion or whatever you want to call it came in you could always ask for your entire balance to be returned that was in credit and there were things in place to enable this but you could wait up to 8 weeks for the money. The second and recent way was via the new regualation to enable zero balance in the account, this had a maximum of £1500 an could take up to 10 working days (it was faster than that). If I want to now request the balance that’s still in my account after getting the £1500 then the first and origianl way would have to kick in. But rather than wait upto 8 weeks I’ve just reduced the DD to £5 a month which will clear it anyway in the same amount of time. In other words I’ve had to do the work to get to zero balance not the new regualtion, which as I’ve said many times now makes a mockery of the whole idea.

My preffered option was to reduce my DD until the credit was reduced however as this was not an option I have had a £500 refund paid yesterday. In a month or two I will have another refund as well. |This reward was the only thing keeping me here.

Did ovo ever pay interest on the account balance ? Does it now ?

Hi ​@100550717 ,

Yes, that used to be something OVO did via OVO Interest Reward in the early days. It paid up to 5% on credit balances up to £1,000 as a reward for paying by Direct Debit and staying in credit.

The scheme is no longer offered as it was closed in 2022 due to regulatory changes and because of the SSE to OVO Migration. If memory serves, the market chaos also made it unviable for them to keep it going so it came to an end.

I’ve not seen any supplier offer it since.

Thank you Blastoise. 
I dont remember them ever announcing it !

Better empty my account then !

david