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Legal, pensions and money

octopus automatically upping payments

(9 Posts)
karmalady Fri 30-Aug-24 16:29:50

They have got a cheek, I have had nothing but praise for octopus, until now. Not asked my permission and I am always in credit, have been since I joined them four years ago. Not a lot of credit because I remove excess but between £100 and £250

I am on fixed rate to early november but feel now that I will look around

I have been on site and upped my payment by £2 a month, at least that lets them know that I have seen their message and don`t agree with them

I am not happy with them, not now

Cabbie21 Fri 30-Aug-24 16:31:39

It has never been a problem with Octopus to set your own direct debit amount. I always pay less than their recommendation.

Siope Fri 30-Aug-24 16:42:37

They tell you they are increasing payments to make sure you cover what you are expected to spend over the next 12 months. I assume they’ve done it now because the new much increased price cap has been announced.

The emails are always clear that you can decline or amend the new amount, and it takes two minutes, if that, in the app. I really don’t see the issue.

MandL Fri 30-Aug-24 16:57:46

Another option might be to change to variable direct debit. I am also with Octopus, and now just pay for what I use every month. I just emailed them to make this change- it was very easy.

Georgesgran Fri 30-Aug-24 17:56:35

Is it just a suggestion though karma?. Actually the opposite happened with me and I felt they wanted to set my monthly payment too low - it was easy to use their website to adjust it to what I wanted.
You could do the variable direct debit like MandL but remember we are about to go into cooler weather fairly soon.
Personally, I prefer paying the same set amount every month.
Just re-signed with Octopus before the latest price rise.

Jaxjacky Fri 30-Aug-24 18:23:59

MandL

Another option might be to change to variable direct debit. I am also with Octopus, and now just pay for what I use every month. I just emailed them to make this change- it was very easy.

I did mine on their app.

tanith Fri 30-Aug-24 19:27:36

Its usually easy to change the amount yourself. They are probably trying to make sure people have enough reserve for the Winter as many wont receive the Winter fuel payment this Winter. Ive been withm them ages and not had any probs.

Shinamae Fri 30-Aug-24 21:27:01

They emailed me with a change, but I thought it was too low so I upped it myself not a problem at all

Charleygirl5 Fri 30-Aug-24 23:09:42

I did what Shinamae did with no problems either. I decided 2 days ago to fix it for a year so that was sorted easily. I have been with them almost since they started and found them very helpful.