Pay bills by Direct Debit and make your money go further

People in Britain are losing £1.1 billion a year by not paying household bills by Direct Debit, according to recent research.

Most bills for goods and services (including rent payments) can now be paid by Direct Debit, and many firms offer reduced charges and other benefits for people who do.

You could save over £100 on your annual gas and electricity bills by switching, and if you have a joint gas/electricity account and add things like phones, car insurance and satellite television you could be saving more than £200 a year.

To pay by DD just ask the service provider or check your bills for information about payment methods. Usually you can fill in a written instruction and post it or sometimes it’s possible to set up a DD over the phone. Remember to have you bank details handy.

What if I haven’t got a bank account?

It’s easy to open one and there is something suitable for everybody. Obviously you can get advice directly from a bank, or you can contact L&Q’s CHANGE team.

Am I protected if a payment is wrongly made?

Yes. Every company offering DD payment must comply with strict rules and give you notice of what the payment amounts are and when they will be collected. They also have to tell you about any changes in writing.

Once the DD is set up you can relax because your bills are paid automatically and on time. If an incorrect payment is ever collected there is an indemnity scheme to put things right.

L&Q has just launched a pilot scheme to reward residents who switch from using Standing Orders to making their payments by Direct Debit. Residents of L&Q Housing Trust, L&Q Forest Homes, Green Horizons and L&Q Supported Living who change method will be entered into a bi-monthly draw where three winners chosen at random will receive £100. If the scheme is successful we hope to roll it out to L&Q Beacon and L&Q Beaver residents in the near future.

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