Make Savings by Using Direct Debit

There’s an interesting report published by BACs highlighting the amount of money lost by consumers by not having Direct Debits setup to pay their bills. On average, they estimate that an individual can save £187 per year by paying their bills this way.

Although the findings are questioned by Energywatch (independent watchdog for the electricity and gas industry), who say that in cases where people over-pay one month they may well lose out, it is generally accepted that you can make savings of a few pounds each month by paying by direct debit. Electricity and gas bills are where the biggest savings can be made.

If you have regular bills that are not yet paid by Direct Debit, it may be worth investigating if there are any savings to be made this way. (It might be worth mentioning that BACs is an industry body which provides / promotes Direct Debit / automated banking services).

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