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Why don't I get the OVO Interest Reward?

  • 13 August 2017
  • 8 replies
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I keep seeing adverts all over stating that the rate of Ovo rewards on credit is increasing so you get more than the original 3% on balances, so I'm wondefjng why I've never received a reward despite my account being in credit for several months. Seems like Ovo are becoming as dishonest as all the other energy suppliers.
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Best answer by Lucy_OVO 18 August 2017, 16:35

I keep seeing adverts all over stating that the rate of Ovo rewards on credit is increasing so you get more than the original 3% on balances, so I'm wondefjng why I've never received a reward despite my account being in credit for several months. Seems like Ovo are becoming as dishonest as all the other energy suppliers.

Hey Chalulu,

If you’re a Pay monthly customer and you’re in credit, you’ll see the OVO interest reward reflected each month on your statement (on the summary page).

Feel free to post a screenshot on this topic (blanking out any personal information) and I’ll be able to show you where it’s outlined. 🙂 I've also amended the title of your topic so that it's easier for other users to find.

Lucy
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8 replies

Userlevel 6
Badge +4
I keep seeing adverts all over stating that the rate of Ovo rewards on credit is increasing so you get more than the original 3% on balances, so I'm wondefjng why I've never received a reward despite my account being in credit for several months. Seems like Ovo are becoming as dishonest as all the other energy suppliers.

Hi @Chalulu welcome to the forum and thanks for posting.

On behalf of the ovo family may i offer our deepest apologies for the issues youve outlined re your interest reward.

As this is a complex account specific matter it would be best to reach out to the ovo customer care team to discuss further. If youre still struggling to get this resolved or infact resolve this please do post back to let us know how you get on.

Best wishes
Userlevel 5
Badge +2
I keep seeing adverts all over stating that the rate of Ovo rewards on credit is increasing so you get more than the original 3% on balances, so I'm wondefjng why I've never received a reward despite my account being in credit for several months. Seems like Ovo are becoming as dishonest as all the other energy suppliers.

Hey Chalulu,

If you’re a Pay monthly customer and you’re in credit, you’ll see the OVO interest reward reflected each month on your statement (on the summary page).

Feel free to post a screenshot on this topic (blanking out any personal information) and I’ll be able to show you where it’s outlined. 🙂 I've also amended the title of your topic so that it's easier for other users to find.

Lucy
Hi i'm in a somewhat similar position. I've been with Ovo for 3 and a half year now. Always been in credit, though as i've moved house on 2 occasions my 3% interest 'loyalty' reward hasn't increased to 4% and then 5%.

I'm owed a back dated payment of interest surely? Given that the interest rewarded is no way dependent on "the property" but more so the individual (me) and for how long i've held an account?
Userlevel 6
Badge +2
@GlasgowChris at the moment this interest reward will restart at 3% if you move out and sign up a new property to OVO.

Tim
So it's not for long standing customers at all then is it? Am I right in assuming that should a man/woman marry (thereby changing their name) this also results in a 'reset' of how long they've been a customer? Can't quite imagine a car insurer penalising it's
long standing customers for changing cars.. make sense?
Strongly suggest making this explicitly clear on your site else you may well find yourself being legitimately fined for misleading customers (and knowingly too, it would appear).
Userlevel 5
Badge +2
@GlasgowChris It’s just the way the accounts work as we’re not able to transfer the interest from one account to another one. It has been raised a few times internally os it’s definitely something that is being thought about. If we can find a way around it, we’ll let our customers know.

Lucy
Okie doke Lucy. Would still recommend making it clear though that the interest reward is in fact not for long standing customers, rather only for those long standing customers who don't move house.
Userlevel 5
Badge +2
I’ll definitely pass this onto the relevant team @GlasgowChris as I totally agree with you. 🙂

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