FiT payments

[Sunstroker]

[FONT=&amp]I presently get my FiT payments from Centrica, wearing their British Gas hat. Payments are prompt, but come by cheque, so I have to drive five miles to the bank to pay it in, then wait four or five days for it to clear through our ultra-efficient 21[SUP]st[/SUP] century banking system before I can get my hands on my money.[/FONT]

I asked them a year ago why they don’t make payment by bank transfer(they seem
to manage to extract money from their customers pretty efficiently by this
method) but they say “unfortunately we are only able to pay by cheque at the
moment, bank transfers will be something we will be offering in the future and
will let all our customers know once this is available.”
So far, nothing. I know that I could change my FiT provider, but before doing so I’d like to be
sure that the alternatives are any better.
So, who gives prompt payment by bank transfer?

 

[BruceB]

eon for my own

 

[Worcester]

Good Energy, they said it would be in the bank on the 18th, they were wrong, it was there on the 16th

 

[digital48]

EDF within a week (the last took just four days) of giving them the meter reading online.

 

[oldsalty]

SSE and Scottish Power both pay by bank transfer but slowly, SSE is about a month with the other MUCH slower at around 6 weeks!

 

[Berneray]

[FONT=&amp]I presently get my FiT payments from Centrica, wearing their British Gas hat. Payments are prompt, but come by cheque, so I have to drive five miles to the bank to pay it in, then wait four or five days for it to clear through our ultra-efficient 21[SUP]st[/SUP] century banking system before I can get my hands on my money.[/FONT]

I asked them a year ago why they don’t make payment by bank transfer(they seem
to manage to extract money from their customers pretty efficiently by this
method) but they say “unfortunately we are only able to pay by cheque at the
moment, bank transfers will be something we will be offering in the future and
will let all our customers know once this is available.”
So far, nothing. I know that I could change my FiT provider, but before doing so I’d like to be
sure that the alternatives are any better.
So, who gives prompt payment by bank transfer?

Maybe have a look at Utility Warehouse. I think they will pay monthly and also offset your FIT payments against your electricity/gas bill. One of my customers showed me his monthly statement from them and it had his gas and electricity usage as debits and his FIT payment as a credit. That month his FIT payment was more than his gas and electricity by £1.20.

 

[digital48]

Maybe have a look at Utility Warehouse. I think they will pay monthly and also offset your FIT payments against your electricity/gas bill. One of my customers showed me his monthly statement from them and it had his gas and electricity usage as debits and his FIT payment as a credit. That month his FIT payment was more than his gas and electricity by £1.20.

If I had my FiT payments set against my bill I would have quite a large positive balance for several months. I would rather have that in my bank earning interest.

 

[JTPR]

What interest????

 

[digital48]

What interest????

3% on Santander 123 current account. 6% on a First Direct Regular Saver account. And others...

 

[JTPR]

With inflation at 1.6% No real incentive to save...hey ho thats my excuse anyway

 

[digital48]

With inflation at 1.6% No real incentive to save...hey ho thats my excuse anyway

Short-sighted...

 

[JTPR]

Invest > Save....

Maybe into something like.....solar PV

 

[digital48]

Invest > Save....

Maybe into something like.....solar PV

And the income from our investment in PV goes into... savings at 6%