![]() This credit check provides us with your current credit score. ![]() A full credit check will stay on your credit report for 12 months. The impact this has on your credit score is minimal, providing you don’t have too many hard searches within a short space of time. This is a full credit check (commonly known as a hard search). When you join us we'll perform a credit check. You can read more about standing charges on our blog. The charge pays for costs such as government schemes to help reduce carbon emissions and fuel poverty, connections to and maintenance of the energy network as well as service administration charges. ![]() Standing charges are a fixed daily amount that customers have to pay, no matter how much energy you use. If you've switched tariff since your last bill then you'll see separate calculations based on the different energy prices. You'll also be able to see all of the calculations on your bill, including your current energy prices as well as the details for your electricity and gas meters. Normally you'll be in credit in the summer months and debit in the winter months when your energy usage is higher. If you pay by Direct Debit then you'll see the list of monthly payments you've made and the balance is there to show you whether you're in credit or debit. Payments - How much you've paid since your last electricity and gas bill.īalance - This is the balance due for payment. Previous balance - This is the balance of the energy bill you had before.Ĭharges - How much electricity and/or gas that you've used plus any standing charges. There are several important bits that you should check when you do receive your electricity and gas bill: We're here to make your energy bills as simple as possible to read. You also have the right to stop automatic payments.Understanding your electricity and gas bill. Monitor your account to make sure the amount and timing of the transfers are what you agreed to. Make sure you understand how much and how often money will be taken out of your account. It’s important to review the copy of your authorization and keep a copy for your records. The terms of your authorization must be laid out in a clear and understandable way. The payment authorization is your agreement to allow the company to debit your bank account for payment. The company must give you a copy of the terms of your payment authorization. Pay close attention to your bank account balance and upcoming automatic payments to make sure there will be enough money in your account when the payment is scheduled. Both the bank and the company might charge you a fee if there is not enough in your account. But if you forget to track your account balance and it’s too low when an automatic (or other) payment is due, you might have to pay overdraft or NSF fees. Be careful about overdraft and insufficient funds (NSF) feesĪutomatic payments can help you avoid late fees on your bills. Be wary of a company that pressures you to repay by automatic debit. Know your rightsĪ company cannot require you to repay a loan by automatic debit from your checking account as a condition for giving you a loan (unless the loan is an overdraft line of credit). Never give your bank account or debit card information to a company that you’re at all unsure about. ![]() Consider using a different payment method until you’re sure you’re happy with the company or service. However, be careful about giving a company permission to take payments directly from your account.īefore you give a company permission to make automatic withdrawals: Verify the companyīefore agreeing to let a company automatically take money out of your bank account, make sure the company is legitimate and credible. Automatic payments can help you stay on track with bills and other regular payments.
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