With only a few exceptions the UK energy company collects its client’s payments via Direct Debit. Most utility based businesses, energy, telecoms and water all favor this method principally as it facilitates a smooth cash flow and the reduction of processing costs.
Some people are concerned about the apparent access this method of payment gives a supplier to their bank account. However there are very strict regulations governing the conduct of the way these transactions are set up and conducted. The banking community underwrites the entire process with a Direct Debit (D/D) Guarantee Scheme.
There is a distinct advantage for you choosing to have your utility account paid by D/D, that is, much greater choice of suppliers with more competitive pricing! Only a few suppliers allows its client’s to pay by cash or cheque whose cash/cheque rates are more expensive than the equivalent direct debit tariff.
So if you are on a cash/cheque rate for your energy you are missing out on a better deal. If you’d like to discuss this issue or any other relating to your commercial energy contract please do call me on my direct line 01234 267883.