Small rant (again) - update

[Green Aura]

I know the economy is in a bit of a state and that we're having to pay for it, despite it not being our fault, but I'm really fed up with companies hanging on to our money!

While the house in Manchester was empty we paid a nominal monthly sum to the utility companies so we could heat it during the winter etc. They owe us £500! and despite having been informed a week ago of the sale they haven't refunded us yet.

I rang our current providers (here) to check something out and during the conversation they admitted they're overcharging us (since March) to the tune of £50 a month! But they can't reduce our payments until August or refund any overpayment until October!

My daughter recently settled a compensation claim and when she hadn't received the money in nearly a month, rang the solicitors who said "oh yes I'll get that in the post to you today" - we have no idea how long they'd had the money, or would have kept it if she hadn't phoned them?

And her business start up grant which was supposed to be in the bank within 2 weeks of her interview (4 weeks ago) hasn't appeared yet because of holidays!

Altogether that tots up to a not insignificant £8600, most of which we need for the kitchen of the bakery.

How many other peoples' money are they hanging on to as well - I'm fuming!

[Odsox]

I know Maggie, it has always been like that but that's not a good reason to carry on this "tradition"

A month or so ago I bought some goods online with my debit card, the company then couldn't deliver to Ireland and so refunded my money back to my debit card. When I paid, the money IMMEDIATELY came out of my account, but the refund took 5 working days to re-appear in my account. It was all electronic computerised transfers and need only have taken less than 10 milliseconds and computers work weekends as well, so the only reason for the 5 working days is to hang on to your money as long as possible.

Bankers ? Not sure about UK banks but my Irish bank is now 90% owned by us taxpayers and they carry on just as bad if not worse, supposedly employed by us, playing about with our money, giving themselves huge bonuses and generally living up to their "bankers" nickname.

[MKG]

Yes - that delay is still claimed as "clearing", which is total and utter rubbish. I recently had a heated argument with my mother's insurance company, who claimed that a banker's draft had to clear (a banker's draft being an unquestionable form of money transfer). You're right, Odsox - the money disappears from your account immediately and, if it doesn't immediately appear in the receiver's account, then where is it? Electronic limbo?

Or are bankers questioning the ability of other banks to pay up? How ridiculous!

Oh ... hang on ...

Mike

[boboff]

I would normally like to be in credit at this time of the year with Utilities, as then your monthly amount should not change when you get to January and have bigger bills.

I have recently noticed a huge improvement in transfers, I transfered some money between banks a while ago, and in the time it took to log out of one account and into the other the money was there! I was amazed, and it does go to show it is possible, and some banks are doing something about it.

It is ruddy annoying mind when people have to be nudged to pay up.

It is amazing the number of businesses who use a client account to keep themselves solvent. The best one I remember seeing is an insurance broker, who kept all the premiums in a off shore account for a month before paying the underwriter, which is normal, some years the interest was in effect his total profit for the year.

Supermarkets are another, they get the cash banked in a week max, and pay for it after up to 90 days, it's that money that they use to "finance" store building programs.

[Zech]

I rang our current providers (here) to check something out and during the conversation they admitted they're overcharging us (since March) to the tune of £50 a month! But they can't reduce our payments until August or refund any overpayment until October!

Try switching to Scottish and Southern for electricity. They overcharge like the rest, but they're pretty good at paying it back when you ask them to.

[ajs88]

six months after bying our flat we recieved a letter saying that the previous owner had overpaid the service charge and was £60 in credit, credit that had been passed over to us, and that we needed to refund him for this.

i rang my solictor who, having had no contact with us since the sale, casually said 'oh buy the way your £50 in credit with us so you only need to send us a cheque for £10 to refund him.

so what if i had never had a reason to use them again that would just keep that £50 forever and never mention that they owed my £50 because they had overcharged me at some point grr

But yes being owed over 8k by various companies is obscene and shows why cashflow is the biggest problem for small businesses, anyway have some and i hope you get then money soon

[MKG]

six months after bying our flat we recieved a letter saying that the previous owner had overpaid the service charge and was £60 in credit, credit that had been passed over to us, and that we needed to refund him for this.

i rang my solictor who, having had no contact with us since the sale, casually said 'oh buy the way your £50 in credit with us so you only need to send us a cheque for £10 to refund him.

so what if i had never had a reason to use them again that would just keep that £50 forever and never mention that they owed my £50 because they had overcharged me at some point grr

But yes being owed over 8k by various companies is obscene and shows why cashflow is the biggest problem for small businesses, anyway have some and i hope you get then money soon

Typical stuff of today!!! No-one can pass their debt to someone else over to you without previous agreement, no matter what the circumstances. You should have informed the service provider that you had no intention of doing their job for them and then told them there was a charge for your services to date of £60. And yes, any company, solicitors or otherwise, who keep your money and say nothing should be forced out of business as being a waste of space.

It's a problem of the times. Most people think that any firm has got to be correct in its methods (far from the truth) and therefore let said firm get away with murder. My attitude to solicitors is on record on this site - probably the worst offenders.

One day, people will wise up.

Mike

[yvette]

We have had similar problem with utitlity companies, some of them used to claim that they could only sort out refunds, adjustments of payments (in our favour) once a year, but if it looked like I wasn't paying enough each month they would up the amount immediately! We once got arefund of over £100-00 because they had been overcharging us for so long!! I think the best revenge is to be very careful and use as little power as possible!!

[Green Aura]

Try switching to Scottish and Southern for electricity. They overcharge like the rest, but they're pretty good at paying it back when you ask them to.

We are zech, well with Scottish Hydro who are owned by SSE!

[Big Al]

I know the economy is in a bit of a state and that we're having to pay for it, despite it not being our fault, but I'm really fed up with companies hanging on to our money!

While the house in Manchester was empty we paid a nominal monthly sum to the utility companies so we could heat it during the winter etc. They owe us £500! and despite having been informed a week ago of the sale they haven't refunded us yet.

I rang our current providers (here) to check something out and during the conversation they admitted they're overcharging us (since March) to the tune of £50 a month! But they can't reduce our payments until August or refund any overpayment until October!

My daughter recently settled a compensation claim and when she hadn't received the money in nearly a month, rang the solicitors who said "oh yes I'll get that in the post to you today" - we have no idea how long they'd had the money, or would have kept it if she hadn't phoned them?

And her business start up grant which was supposed to be in the bank within 2 weeks of her interview (4 weeks ago) hasn't appeared yet because of holidays!

Altogether that tots up to a not insignificant £8600, most of which we need for the kitchen of the bakery.

How many other peoples' money are they hanging on to as well - I'm fuming!

The solicitors keep the cheques from the insurance companies etc in their clients account " just to make sure they don't bounce" but the interest earned on these CA must go somewhere....

I fail to see why the utillity company can't refund you or alter the payment schedule. If you are on pre payment and it is a key and card ( orange key cover / cap ) then it is a modern pre pay meter and they can set the meter tarrif remotely. If it's a very old meter then they might have to do it manually but they are very few and far between.
The uttillity company who are overcharging you are breaking the law if they knowingly overcharge a client and you need to phone them up asap and let them know that "you will be lodging a complaint with OFGEM when you put the reciever down on this call"
Also if you are paying by DD then they are breaking that agreement and you can ask your bank to refund you the money they [ the utlillity co] have taken. It also goes as a black mark on their record.
Are you by any chance on Npower??

[Thomzo]

i rang my solictor who, having had no contact with us since the sale, casually said 'oh buy the way your £50 in credit with us so you only need to send us a cheque for £10 to refund him.

so what if i had never had a reason to use them again that would just keep that £50 forever and never mention that they owed my £50 because they had overcharged me at some point grr

Your solicitors should have issued you with an invoice and a completion statement showing what moneys you had paid them and how much was due back to you. If they didn't do this they are breaking the rules. If they did, then you should really check it and follow it up.

I get my gas and electricity from NPower. A few years ago they tried to increase my direct debit amount by over 50%, even though my consumption had actually gone down that year as I'd had cavity wall insulation put in. I just wrote to them refusing the increase and telling them they could take no more than the amount I suggested. They complied.

I'm afraid it's a case of checking your finances very closely and being the one customer who shouts loudest. If we all made it clear that this isn't acceptable then they will have to listen.

Zoe

[baldybloke]

Last year I switched to a duel tariff with Ecotricity which whilst maybe not the cheapest has pretty good enviromental ethics. NPower my old supplier refunded my outstanding balance reasonably quickly.
If your supplier is messing you about, threaten to switch and you will find that they will usually bend over backwards to keep you.

[Zech]

Try switching to Scottish and Southern for electricity. They overcharge like the rest, but they're pretty good at paying it back when you ask them to.

We are zech, well with Scottish Hydro who are owned by SSE!

Ah well, maybe I've just had better luck with them than you have, or maybe there actually is a difference between the subsidiaries (we're with Southern). I'm currently trying to convince them that my meter is over-reading. It's taking ages, but I'm always impressed by the fact that the people at the other end of the phone are human beings, capable of engaging in discussion, rather than being completely script-tied.

[battybird]

I was amazed with my gas provider...I got the account notification for July and found that it said I was OWED £439!! Then noticed that they had estimated my usage for the last 6months as 9units costing £7!! I did a meter reading, sent it to them electronically and recieved a full refund of the amount I was in credit (£139) in 2 days and an email that they had reduced my direct debit payments by £30 a month.All without asking... I was getting ready to phone and argue about them using me as a savings bank...thoroughly deflated now! Still cannot work out how they estimated my usage was so little, but it gives me hope that some companies have at last worked out that being fair keeps customers happy.

Just dont let me start on how long it took Sa******r Bank to transfer savings from their account giving 0.10% interest to another company
Why does it take one bank two weeks and another 4days??

[MKG]

Because they're bankers.

Is that the word I'm looking for?

Mike